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Oil and Gas Exploration

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  • Exxon, Rosneft to Drill in Soviet Nuclear Dump Wednesday, 26 Sep 2012 | 2:58 PM ET
    off shore oil rig

    Exxon Mobil and Rosneft are planning to drill in the Kara Sea that holds enough oil to supply the world for five years. But environmentalists fear nuclear radiation.

  • China Reaches for Control of More Canadian Oil Tuesday, 25 Sep 2012 | 4:06 PM ET
    Oil Storage Tank

    Last week, shareholders at Nexen voted in favor of the proposal in what could be a landmark for a Canadian business. But lawmakers in Ottawa have expressed reservations about Beijing's dominance in a market habitually tied to the United States.

  • An aerial view looking south along the Mediterranean coast of the walled old city of Akko in northern Israel.

    Israel is interested in developing natural gas alternatives in the eastern Mediterranean. The problem is that it is in contested waters claimed by not only Israel, but the Palestinian Authority, the Republic of Cyprus and Turkey.

  • Race Is On as Ice Melt Reveals Arctic Treasures Wednesday, 19 Sep 2012 | 1:06 PM ET
    Trans-Alaska Pipeline near Fairbanks

    The Arctic’s abundant supplies of oil, gas and minerals are, thanks to climate change, becoming newly accessible, the New York Times reports.

  • Tamminen: Wars Over Oil Yield No Winners Tuesday, 18 Sep 2012 | 5:53 PM ET
    City skyline and modern construction, Ho Chi Minh City, Vietnam.

    We're not talking about the Persian Gulf. It's the South China Sea where China and Vietnam are on a collision course that could result in higher commodity prices and far worse.

  • Can Syria's Rebels Ever Overthrow Assad? Tuesday, 18 Sep 2012 | 2:49 PM ET

    In an interview with OilPrice.com, the president of a private intelligence company discusses whether rebels can defeat Syria's President Bashar al-Assad.

  • Kilduff: Oil’s ‘Flash’ Warning to All the Markets Tuesday, 18 Sep 2012 | 10:49 AM ET

    The crude oil market signaled a warning to all the markets with its precipitous decline, yesterday.

  • A makeshift emerald mine in The Panjshir Valley, Afghanistan.

    Officials and industry experts are worried that the potential wealth to be made from Afghanistan's resources has increased the level of corruption, violence, and intrigue in the country.

  • Trading Oil Exploration & Production     Friday, 7 Sep 2012 | 6:31 AM ET

    Andrei Gaidamaka, Lukoil deputy CEO, discusses how a drop in crude oil inventories will impact energy exploration and production.

  • Saudi Arabia, the world's central bank for oil, could become a net oil importer by 2030 according to a new study by Citigroup, the international financial conglomerate.

  • Five Oligarchs Whose Names You Need to Know Wednesday, 5 Sep 2012 | 3:53 PM ET

    Oligarchs are the wealthy few who benefit from the government and for all intents and purposes call the shots behind the scenes. Oilprice.com considers five key oligarchs and oligarch families who will shape the future.

  • US Accuses BP of Gross Negligence in Gulf Tuesday, 4 Sep 2012 | 11:27 PM ET
    BP sign

    The US Department of Justice intends to prove at trial that gross negligence or willful misconduct by BP caused the 2010 Deepwater Horizon disaster in the Gulf of Mexico, government lawyers have said, in the clearest statement yet that they are seeking the maximum possible penalties from the British oil group. The FT reports.

  • Oil Prices: Supply Worries Aren't What Matters Now Tuesday, 4 Sep 2012 | 3:41 PM ET

    Geopolitical and economic issues are shaping the price of oil more than worries about supply.

  • Colombian Oil: Is It Time To Invest? Thursday, 30 Aug 2012 | 3:26 PM ET
    The Ecopetrol SA oil refinery stands in Cartagena, Colombia, on Tuesday, March 13, 2012. Ecopetrol SA, Colombia's largest oil company, plans to finish repairs this week to a pipeline sabotaged by guerrillas more than a dozen times this year.

    'Senior' Colombian oil stocks are just above 50 percent of their highs, and the rest are anywhere from 20-50 percent of their highs.

  • Q&A: The Real Reason Behind Oil Price Increases Wednesday, 29 Aug 2012 | 4:26 PM ET
    Off Shore Oil Rig

    Is our energy future one of falling prices and plentiful supply or should we prepare for declining supply and sky high prices?

  • Chavez Plans to Double Venezuela Oil Output by 2019 Tuesday, 28 Aug 2012 | 4:01 PM ET
    Venezuelan President Hugo Chavez speaks at Latin American summit

    The Venezuelan president pledged to invest $130 billion in Venezuela's Orinoco Oil Belt between 2013 and 2019 to boost national production from 3 million barrels per day to 6 million bpd, doubling output to make it OPEC’s second-largest producer after Saudi Arabia, knocking Iran into third place.

  • The Real Factors Behind Gasoline Price Volatility Friday, 24 Aug 2012 | 5:19 PM ET
    A worker pumps gasoline into a car.

    Nothing infuriates Americans more than volatile, spiking gasoline prices. But often the causes given for gasoline price hikes seem contrived.

  • Demand Is Weak, So Why Are Oil Prices Rising? Tuesday, 21 Aug 2012 | 2:21 PM ET

    Fundamentally, it seems, markets are well supplied, though it may be emotional factors driving certain aspects of the energy market.

  • India’s New Oil Find: Is It a Sea—or a Puddle? Monday, 20 Aug 2012 | 12:49 PM ET
    off shore oil rig

    According to the U.S. government’s Energy Information Agency, “In 2009, India was the fourth largest energy consumer in the world, after the United States, China, and Russia. Despite a slowing global economy, India's energy demand continues to rise. As vehicle ownership expands, petroleum demand in the transport sector is expected to grow in the coming years. While India's domestic energy resource base is substantial, the country relies on imports for a considerable amount of its energy use. According to the International Energy Agency, hydrocarbons account for the majority of India's energy use.”

  • Europe's Fastest-Growing Economy Needs More Oil Friday, 17 Aug 2012 | 9:44 AM ET
    Turkey's Energy Minister (2R), Turkish Cypriot leader Dervis Eroglu (4R) and Turkish-Cypriot Prime Minister Irsen Kucuk (R), attend a ceremony an oil rig platform during a ground-breaking ceremony in the village of Sygkrasi, near Famagusta, where the state-run Turkish Petroleum Corporation (TPOA) bored their first onshore probe on April 26, 2012.Turkey began its first exploratory oil and gas drilling in the breakaway northern sector of the divided Cyprus on April 26, amid a dispute over rights t

    Turkey’s dependence on imported oil is hampering its growth, and is likely to continue doing so as the country’s prosperity increases, regional analysts and energy experts say.