Tar oil sands contribute more to global warming than conventional crude oil, according to a new study by the U.S. Department of Energy’s Argonne National Laboratory, which was conducted in collaboration with Stanford University and the University of California at Davis. Their report has added more fuel to the controversial development of tar sands oil. Continue reading →
The discovery of Tupi field meant that Brazil’s economy would prosper by producing oil and join the league of countries that have the well-developed economies courtesy of oil business. However, this has not been the case due to corruption scandals that have marred the exploration of petroleum, expenses incurred and complexity of pre-salt areas contract conditions. Continue reading →
Technip, a Paris-based gas and oil industry leader in project management, engineering, and construction has landed a contract with Chevron North America Exploration and Production Company to decommission the brownfield development and new installations. Continue reading →
Svilen Petrov reported on May 30, 2015 in a brief article posted on the website of Maritime News Maritime Transport and Shipping Journal that a significant oil deposit has been located beneath waters lying off the coast of the Falkland Islands. An offshore oil rig, the Eirick Raude, struck oil in an area where the chances of making a successful strike had been considered low by many oil business experts. It is unclear what, if any, impact the discovery will herald for oil prices. Continue reading →
Ecologists are trying to estimate how Santa Barbara oil spill could hurt California’s Channel Islands which are known as “Galapagos of the north” because of their biological diversity. Continue reading →
The most famous American oil spill in recent history was in 2010 when BP oil rigs reported a massive, long-lasting leak. It took many months to finally stop the flow of crude oil into the Gulf of Mexico. Farther back there was another oil spill in the Gulf caused by Hurricane Ivan in 2004. Now, over a decade later, it is suspected by government officials that there has been, and still is, a leak from those wells knocked over in the hurricane. Taylor Energy Company is responsible for fixing their problems and cleaning up the constant oil slicks in the area from their wells. More stringent restrictions on oil companies seem to be a new, positive trend but the problem is on-going and probably will be long-term.
China is known to be the top most energy consumer in the whole world. Here, oil is the most consumed fuel as well as the most traded commodity in the market. This country has even beaten the United States as far as importing crude oil is concerned. Continue reading →
The Royal Shell oil industry plan is to pay out 55 million pounds, $83.4 million dollars in restitution for two oil spills in Nigeria which occurred in 2008. This was decided after conceding to a conclusion with the affected people. Continue reading →