Although Chevron was fined $28 million and had its drilling rights in Brazil suspended for the recent offshore oil spill at their Frade field, some industry experts suggest the company will be able to avoid a long-term ban.
Enbridge acquire stake in a key Cushing-Gulf Coast pipeline after TransCanada’s Keystone XL pipeline ambitions are dealt a blow.
A land purchase in South Dakota by a small, Texas-based independent Bedrock Oil & Gas Co. has led to speculation that the state could possibly hold a Bakken-sized oil formation hosting 3 to 24 billion barrels of oil.
Nunavut is bound to have some piece of the estimated 160 billion barrels of crude oil believed to be locked up in the Arctic – the challenge is finding it.
Total and Eni among the first foreign firms to restart operations in Libya, while others await developments.
Key report from the US Department of State should set the stage for project`s approval from the White House, say analysts.
Analysts see Brent prices easing and WTI ending the year where it began, but do not rule out more volatility over Q4.
After BP-Rosneft deal falls through, Exxon score a major coup with partnership that grants them access to untapped reserves that could top 110 billion barrels of oil equivalent.
Spread between WTI and Brent crude the emerging oil story of 2011.
A significant find by home-grown Statoil could provide a spark for the flagging Norwegian oil industry.
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