Rex Tillerson hadn't been CEO of ExxonMobil very long when the late president Hugo Chavez made foreign oil companies in Venezuela an offer they couldn't refuse. Give the government a bigger cut, or else. Most of the companies took the deal. Tillerson refused. Chavez responded by nationalizing ExxonMobil's considerable assets in the country, which the company […]
The Organization of the Petroleum Exporting Countries (OPEC) and other major oil producing countries, including Russia, decided to cut production during the first half of 2017. Since the OPEC meeting in late November 2016, crude oil prices have been rising, and traded at 18-month highs to kick off the New [...]
Click here for reuse options! Republicans and oil industry trade groups are threatening to challenge the ban in court or through legislation. President Obama gave environmental advocates a Christmas present when he announced in late December that he was banning oil and gas drilling in huge swaths of the Arctic and Atlantic oceans. Show More Summary
SEATTLE—Much of the news out of the Arctic lately late has been about efforts to protect the fragile region from new oil and gas development, but that may be about to change. Less than a month after the Obama administration announced that it was banning offshore oil and gas production in most of...
Much of the news out of the Arctic of late has been about efforts to protect the fragile region from new oil and gas development — but that may be about to change. Less than a month after the Obama administration announced that it was banning offshore oil and gas production in most of the Arctic,...
The Maritime and Port Authority of Singapore has reported “good progress” in cleaning up an oil spill after two containerships collided late Tuesday night in the East Johor Strait separating Singapore and Malaysia. The MPA said Friday...Show More Summary
“What happened to oil in the late 1970s?” was a question assigned to me in elementary school to discuss with family over the Christmas holiday break. At the time, this question seemed innocent enough, and I didn’t know how my family would react about what I soon learned to be two oil embargoes.
President Obama gave environmental advocates a Christmas present when he announced in late December that he was banning oil and gas drilling in huge swaths of the Arctic and Atlantic oceans. This action “indefinitely” protects almost 120 million acres of ecologically important and highly sensitive marine environments from the risks of oil spills and other industrial impacts.
by Patrick Parenteau, Vermont Law School President Obama gave environmental advocates a Christmas present when he announced in late December that he was banning oil and gas drilling in huge swaths of the Arctic and Atlantic oceans. This...Show More Summary
With the end of oil trading year 2016 in sight, the most surprising moment for many industry observers was the revelation late in the annual cycle that Russia would work with the Organization of Petroleum Exporting Countries (OPEC) to lower crude production in 2017. It seems the first instance of cooperation [...]
Save for early punk rock and a few obscure power pop bands, I'm not a huge fan of '70s rock-n-roll. Rooted as a blues band in the late '60s, the Steve Miller Band grooved into the '70s
It’s late afternoon on a recent Monday in Venice, and fast-walking Angelenos enter and exit the busy Erewhon health foods market like ants frantically prepping for a storm. Two perpendicular tables near the entrance to the market entice shoppers to stop and take a gander at the goods laid out before them. Energetic...
"They came to doctors too late. … Only a miracle can save them." Those were the words to the Siberian Times from the Irkutsk region's health minister regarding those sickened from ingesting a deadly bath oil, with dozens already dead from the mass poisoning—said to be the "worst such...
Oil has been center stage since late 2014. Most recently, after two years of depressed prices, OPEC agreed to curtail output by 1.2 million barrels per day at its meeting in Vienna in late November in an attempt to end the global supply glut. Show More Summary
A recently discovered oil leak along an important waterway may give further weight to the Standing Rock Sioux's efforts to keep crude oil away from its primary water source. But will the message be too late?
John Michael Greer (aka The Archdruid) has a look back at why the peak oil "movement" (a term I've always loathed) faltered so quickly once oil prices dropped back off their late 2000s / early 2010s highs - Why the Peak Oil Movement Failed. Show More Summary
The US oil rig count rose by 12 to 510 this week, according to oilfield-services giant Baker Hughes. The count of rigs plunged with oil prices from late 2014, representing one of the best anecdotes of how the downturn was impacting US shale drillers. Show More Summary
Via Raw Story: Seth Meyers is not happy about President-Elect Donald Trump nominating Exxon Mobil CEO Rex Tillerson to be the Secretary of State. The “Late Night” host railed on the pick in his latest “Closer Look” segment, noting, “I...Show More Summary
Late in the summer of 2016, I predicted that crude oil prices would be in the mid-$50s by the end of 2016, and the low $60s by the first quarter of 2017. The post Forecast: There Are Big Changes (and Big Profits) Coming to the Oil Sector in 2017 was originally published at The Wall Street Examiner. Follow the money!
Oil stocks are the top performers in the S&P 500 on Monday following news that OPEC and non-OPEC members reached an agreement to cut production and boost prices. Late Saturday, Khalid al-Falih, the Saudi oil minister, announced a deal...Show More Summary