Russian Prime Minister Vladimir Putin said on Tuesday Israel may be excluded from the Blue Stream-2 gas pipeline project as it has uncovered its own gas deposits.
Turkey and Azerbaijan on Monday signed a long-awaited deal on the transit of gas to Europe seen as crucial to plans to reduce the continent’s dependence on Russian gas.
The weekly average oil price of the Organization of Petroleum Exporting Countries (OPEC) rebounded to 71.79 U.S. dollars per barrel last week, the Vienna-based cartel said Monday.
As BP hacked away at a pipe gushing oil at the bottom of the Gulf of Mexico, investors sawed off 15 percent, or $21.1 billion, of the company’s market value Tuesday.
WTI oil prices open trading over $73 a barrel Thursday in Asia after a report showed US crude inventories fell more than expected, suggesting consumer demand is growing.
The future of BP was in doubt last night after the US government launched a criminal investigation into the Gulf of Mexico disaster, the the worst oil spill in American history.
BP’s stock plummeted and took much of the market down with it Tuesday as the federal government announced criminal and civil investigations into the Gulf of Mexico oil spill.
A fire at an Iranian oil well near the Iraq border killed three people on Saturday and injured 10 more, Iran’s official IRNA news agency reported.
Royal Dutch Shell, the Anglo-Dutch oil and gas producer, said Friday that it had struck a deal to buy most of the assets of East Resources for $4.7 billion in cash, moving into the coveted sector of natural gas contained in shale deposits.
The Algerian president made a surprise Cabinet reshuffle on Friday, kicking out his longtime ally Chakib Khelil, a former OPEC chief, from the Energy Ministry amid a growing corruption scandal in the North African country’s oil and natural gas industries.
