News / International
Russian Auctions Tycoon Moving into Solar Power
Billionaire Viktor Vekselberg is out to prove that solar has a place in Russia, the world’s largest exporter of oil and gas.
Nigeria and it’s Oil Paradigm
As petroleum minister during the 1970s oil boom, Muhammadu Buhari set up the Nigerian National Petroleum Corporation. It is an accident of history that the same man, elected president in March, could now be compelled to dismantle the state oil company he helped create.
Chevron Wants to Share $1 Billion in South Africa Refinery Updates
South Africa, which sets gasoline prices that fuel producers can charge, needs to ensure companies can recover the cost of upgrading their facilities to handle cleaner fuels, Chevron Corp.’s local unit said.
Nigerian Oil Union Stops Halliburton Operation Due to Job Cuts
Nigeria's main oil union has shut down the local operations of U.S. oilfield services provider Halliburton Co in protest against job cuts, the trade body said on Tuesday.
Brazil Oil Group Hopes Regulatory Changes Will Boost Exploration
Brazil's national oil-industry association, IBP, released a list of suggestions for regulatory changes on Monday that it hopes will boost exploration activity in the wake of falling oil prices, high costs, delays and a graft scandal at state-run oil company Petrobras.
Solar Power Looking to Outpace Shale in the United States
Move over shale. The sun is now the fastest growing source of U.S. electricity.
PetroChina Accounces First Large Scale Shale Oil Field Discovery
PetroChina announced on its official website on May 26 that the country's first 100-million-tonne large-scale shale oilfield has been discovered, the Xinanbian oilfield in northern Shaanxi, adding further oil resources to the annual stable oil yield of 50 million tonnes of oil from the Changqing oilfield, according to the website of the Shanghai-based Stock Information Service.
Despite Huge Find, Decreasing Prices Means No Drilling in Canada
The news was bittersweet for Canada’s Northwest Territories. While the region found out last week that its Canol and Bluefish formations hold Canada’s largest shale oil reserves, the slump in prices means no one’s drilling there any more.
