Production is soaring in Alberta’s bitumen belt, but the environment is suffering, writes John Vidal.
The main militant group in Nigeria’s oil-producing Niger Delta said on Wednesday it would attack major oil pipelines in the next 30 days.
With oil prices at record highs, government coffers in the world’s eighth biggest oil exporter are swollen to unprecedented levels.
Threatened with beheading and harried by pirates, people fleeing the Niger Delta’s Bonny Island this weekend struggled to reach Port Harcourt.
Oil rose to near a barrel on Tuesday, rebounding from a dip prompted by the restart of some production in major African oil exporter Nigeria.
Oil prices hovered near a barrel on Monday, swinging between gains and losses as traders weighed global supply concerns and a stronger dollar.
The future of northern Alberta’s aspen and pine woods, its rivers and animals are in doubt as the world’s greatest modern oil rush accelerates.
Oil leapt to a new record high near a barrel on Friday, spurred by growing worries of threats to supplies from Iran and Nigeria.
The most high-profile rebel group in Nigeria’s oil-rich Niger Delta said on Thursday it was suspending a two-week-old unilateral ceasefire.
Nigerian President Umaru Yar’Adua believes a peace summit slated for this month on the Niger Delta will end the crisis in the restive oil-rich region.
The price of oil rocketed to a record high past $146 a barrel on Thursday owing to falling reserves of US crude and simmering tensions over Iran.
An attack by Islamic extremists on Saudi Arabia’s oil sector would have disastrous consequences on the world market, analysts warn.
Oil surged past $145 per barrel for the first time on Thursday as the weak US dollar and Middle East tension stoked its record-breaking run.
With unrest in the Niger Delta cutting into oil output, Nigeria has made peace efforts a priority, but has little to show for its efforts.
Opec has concerns that future demand for oil might not be strong enough to justify investment to boost oil production.
Oil leapt to a new record high above a barrel on Friday, extending gains after surging nearly 4% in the previous session.
Oil leapt to a new record high near a barrel on Friday, extending gains after surging nearly 4% in the previous session.
Algerian Energy Minister Chakib Khelil, president of Opec, forecast on Thursday that oil prices could rise to $150 to $170 a barrel.
The US Supreme Court on Wednesday threw out a punitive damages order against oil giant Exxon for one of the world’s worst environmental disasters.
Nigerian security forces have clashed with militants believed to be responsible for an attack on Royal Dutch Shell’s main offshore Bonga oilfield.
Chakib Khelil, president of Opec, on Tuesday rebuffed calls from oil-consuming countries to increase supply.
”Neither the Constitution nor our people will allow any violation of our sovereignty”, says Hussain al-Shahristani, Iraq’s Oil Minister.
World energy powers embarked on a new level of dialogue to rein in runaway oil prices at an emergency meeting in the Red Sea city of Jeddah on Sunday.
Nigerian militants have blown up a key oil-supply pipeline operated by Chevron, in the latest attack targeting the country’s oil industry.
The world’s top energy policymakers meet in the Red Sea city of Jeddah on Sunday for emergency talks on halting oil’s unrelenting rally.
Nigerian President Umaru Yar’Adua has ordered the country’s armed forces to tighten security in the Niger Delta.
The dotcom bust shook the world almost a decade ago, last year the credit crunch seized up markets, and now an oil price bubble may cause more havoc.
Rising oil prices, global food shortages and the economic crisis are proof for many survivalists that society is on the brink of meltdown.
Crude oil rocketed to a record high of almost $140 a barrel on Monday despite news that Saudi Arabia was ready to raise output.
Diesel use in South Africa, driven by home generators and the trucking of coal to Eskom power stations
Opec secretary general Abdullah al-Badri on Tuesday appealed for calm, saying the record-high oil price was unbearable and did not reflect any shortage of supply.
High global oil prices and cuts in fuel subsidies in some countries will slow growth of oil demand this year, the International Energy Agency (IEA) forecast on Tuesday, also reporting a surge in supply in May.