Speculation was mounting this week on news of a potential oil strike as a promised announcement from hydrocarbons exploration company Desire Petroleum grew closer. Zoom Image Having contracted the semi-submersible rig the Ocean Guardian for its initial

Oil prices slumped at the end of the week, tumbling Friday close to USD 80 a barrel as continued uncertainty about Greece`s economy helped lift the dollar higher. Benchmark crude for April delivery dropped USD 1.52 to settle at USD 80.68 a barrel on

Petrobras, the Brazilian national oil company, will spend between $200bn and $220bn over the next five years as it ramps up capital expenditure to develop potentially enormous new oil fields discovered off Brazil's coast in 2007, Almir Barbassa,

It turns out the timing could not have been worse for Saudi Arabia. Only two years ago, consumers were clamoring for more supplies, OPEC producers were straining to increase their output, and prices were rising to record levels. But now, for the first

The U.S. Department of Labor's Occupational Safety and Health Administration has cited Chipco LLC, a natural gas well salvage and capping business based in Zanesville, with two alleged willful and seven alleged serious violations of federal workplace

NORA ROBERTS: NORA ROBERTS, who has died at the age of 91, was an artist and educationalist who played an influential role in the development of the national Texaco children's art competition. She was also well known in labour and transport history

In response to House Energy and Commerce Chairman Henry Waxman’s request for information about chemicals used in hydraulic fracturing, a half-century old method of extracting natural gas, the Congressional Natural Gas Caucus is seeking the opportunity

Last summer, Saudi Arabia put the final bolt in its largest oil expansion project ever, opening a new field capable of pumping 1.2 million barrels a day more than the entire production of Texas. The field, called Khurais, was part of an ambitious $60

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Last summer, Saudi Arabia put the final bolt in its largest oil expansion project ever, opening a new field capable of pumping 1.2 million barrels a day more than the entire production of Texas. The field, called Khurais, was part of an ambitious $60