The South Korean businessman Tongsun Park, has been sentenced to five years in prison for accepting at least $2 million to work on Iraq’s behalf to influence the UN oil-for-food program.
Park was sentenced by US District Judge Denny Chin for his conviction seven months ago on conspiracy charges. A jury had rejected his claims […]

A BP employee has admitted destroying documents after plaintiffs’ lawyers subpoenaed her laptop on an anonymous tip that she had information useful in the lawsuits against the UK oil company arising from its fatal refinery explosion, reports the Financial Times.
Court records show that on November 3 2006, plaintiffs’ lawyers subpoenaed Susan Moore, BP regulatory affairs […]

The U.S. Minerals Management Service (MMS) has approved Shell’s plan to drill as many as a dozen exploration wells over the next two years in the Beaufort Sea.
The agency, which supervises Alaska’s oil and gas leasing released an environmental assessment that said that the project would not cause “undue or serious harm or damage to […]

Good article in the New York Daily News about Iraq’s new oil law. “Throughout nearly four years of the daily mayhem and carnage in Iraq, President Bush and his aides in the White House have scoffed at even the slightest suggestion that the U.S. military occupation has anything to do with oil” says the paper.

“The […]

The bankrupt Russian oil company Yukos, whose former owner Mikhail Khordorkovsky languishes in a Siberian prison, is to be sold off next month in the first in a series of “bargain basement” auctions.
Russian bankruptcy officials have confirmed that the first batch of Yukos assets will be sold at the end of March, with further sales […]