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Oil News

Four killed in fiery blast at Mexico oil rig

- Eight firefighting vessels with water cannon battled a blaze on a Mexican offshore oil platform for hours, an inferno that killed four workers and forced 300 to be evacuated.

Death toll in Mexico oil rig blast rises to four: official

- The death toll in an explosion and fire at a Mexican oil rig rose to four on Wednesday, state energy firm Pemex said.

Amnesty warns on 'seriously alarming' Nigeria oil spills

Lagos - Amnesty International on Thursday said two major oil companies operating in Nigeria, Shell and ENI, reported a combined 553 oil spills in 2014, a "seriously alarming" figure that qualifies as a "national emergency.

Brazil authorizes investigation of lawmakers in Petrobras scandal

Rio De Janeiro - Brazil's Supreme Court authorized the investigation of dozens of politicians, including the presidents of the senate and of the chamber of deputies over the multibillion-dollar graft case roiling state oil giant Petrobras.

Court upholds judge's removal from Eike Batista trial

Rio De Janeiro - A Brazilian appeals court confirmed Tuesday the removal of a judge from an insider dealing case against Eike Batista, setting the stage for a likely retrial.

Death toll from Brazil rig explosion rises to five

Oslo - The death toll from a blast which ripped through a Petrobras oil rig off Brazil has risen to five, with another four people still missing, the rig's owner said Thursday.

Three dead in Petrobras rig blast off Brazil

Rio De Janeiro - An explosion ripped through a Petrobras rig off Brazil Wednesday, killing three people, injuring 10 and leaving six others missing in a new blow to the embattled state oil giant.

Can Brazil president survive growing Petrobras scandal?

Bras - Mounting allegations that her party received hundreds of millions of dollars in a kickbacks scandal engulfing oil giant Petrobras have sent Brazilian President Dilma Rousseff's poll ratings tumbling and could fatally undermine her.

UN Security Council aims to dry up IS group financing

New York - The UN Security Council plans to adopt a resolution next week aimed at halting funding to Islamic State militants from oil, antique trafficking and ransoms, diplomats said.

Police seize Brazil tycoon Batista's cash, cars

Rio De Janeiro - Police on Friday seized a piano, the equivalent of $45,700 in cash, six cars and other possessions from the home of Brazilian tycoon Eike Batista, once Brazil's richest man, who is on trial for insider trading.

Obama clash looms after Senate passes Keystone

Washington - The US Senate on Thursday approved a bill authorizing construction of the controversial Keystone XL oil pipeline from Canada to the United States, a Republican priority that faces a presidential veto.

BP off hook for several billion dollars in oil spill fines

New York - A US judge said energy giant BP faces a maximum fine of $13.7 billion for the 2010 Gulf of Mexico oil spill, a sum reduced by several billion dollars.

Op-Ed: Campaign against Doritos and sustainable oil continues - update

Campaign group SumOfUs.org have released a new online advert to coincide with Doritos annual ‘Crash the Super Bowl’ commercial competition. This is part of the long running campaign against the company over rainforest destruction.

Venezuela's Maduro holds talks in OPEC kingpin Saudi

Riyadh - Venezuelan President Nicolas Maduro held talks in OPEC's leading oil producer Saudi Arabia on Sunday, officials said, before he headed to Algeria for further dialogue about low world crude prices.

Deadly Libya strike on tanker draws Greek condemnation

Darnah - Libya's internationally recognised government said Monday that its aircraft bombed an oil tanker off the Islamist-held port of Derna, killing two crewmen and drawing condemnation from Greece.

Suicide bomber targets Libyan parliament

Benghazi - A suicide bomber blew up a car outside the headquarters of Libya's internationally recognised parliament Tuesday, wounding three lawmakers, a legislator said.

First air strikes hit Libya's militia-held Misrata

Tripoli - Forces loyal to Libya's internationally recognised government carried out their first air strikes Sunday against militia-held third city Misrata, a spokesman said.

22 Libya soldiers killed in speedboat attack on oil ports

Benghazi - Islamists killed at least 22 soldiers on Thursday after a surprise attack in which they used speedboats in a failed bid to seize some of Libya's main oil terminals, officials said.

Drilling for microbes in extreme environments

Scientists have been analyzing samples from the deepest-ever marine drilling expedition to identify living microbes. In parallel, researchers exploring the Arctic have found life thriving below the ice.

Denmark claims potentially energy-rich Arctic waters

Copenhage - Denmark will lay claim to energy-rich but contested territory around the North Pole on Monday by submitting data to the UN which it says demonstrates the area is an extension of its continental shelf.

Libyan forces repel Islamist attack on oil region

Benghazi - Islamist fighters launched a three-pronged attack Saturday on a key oil region in eastern Libya but were pushed back by pro-government forces, military officials said.

Op-Ed: Dismal New Year's for Putin

Moscow - Perhaps it’s a good thing that Russia’s government is calling off New Year’s Eve parties. They probably would fizzle. Vladimir Putin’s Ukraine adventures have led to the price of condoms and hookers rising.

Bangladeshis use sponges to clean oil spill threatening dolphins

Dhaka - Bangladeshi villagers using sponges, shovels and even spoons worked Friday to clean up a huge oil spill in a protected area that is home to rare dolphins, after environmentalists warned of an ecological "catastrophe".

US Supreme Court rejects BP challenge to Gulf settlement 

Washington - The US Supreme Court on Monday refused to hear energy giant BP's challenge to a settlement ordering it to pay hundreds of millions of dollars to businesses hurt by the 2010 Gulf of Mexico oil spill.

Spain's Canary islanders protest against oil drilling

About 200 people, including tourists, formed a giant "SOS" on a beach on Spain's Canary Islands on Sunday to protest against drilling for oil off the archipelago.

Venezuela to slash budget after OPEC steadies output

Caracas - Venezuelan President Nicolas Maduro ordered his government to slash the budget of his oil-dependent and economically-weak nation, as crude prices plunge after OPEC held output steady.

U.S. oil prices open $4.40 lower following OPEC meeting

New York - U.S. oil prices sank more than $4 in opening trade Friday, a day after OPEC decided to not cut production in response to lower prices.Near 1400 GMT, US benchmark West Texas Intermediate for delivery in January stood at $69.

Oil plunges to new multi-year lows on OPEC decision

New York - Global oil prices plunged Friday to new multi-year lows after the OPEC oil-producing cartel decided to maintain crude output in an oversupplied market.US benchmark West Texas Intermediate for delivery in January closed at $66.

OPEC move to keep oil output target sparks price slump

Vienna - OPEC's decision against cutting oil production, despite a global glut in supplies, triggered a five-dollar collapse in crude prices and prompted a fall in early trading on Asian markets Friday.

Op-Ed: Putin may be losing his Russian roulette game

Moscow - With prominent Russians falling from a Moscow skyscraper and drowning in an OPEC country it may or may not be just a coincidence, but it appeared to indicate that President Vladimir Putin’s economy is dangerously threatened by a growing glut of oil.
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