The U.S. Interior Department will release today its new five-year plan to expand oil and gas drilling in the Gulf of Mexico, as well Alaska and Virginia.
The proposed drilling area includes major fishing areas and is set to be controversial.
The new leasing plan “would significantly increase the nation’s domestic energy supplies while protecting the [...]

Seven Chinese oil workers and two Africans who were kidnapped last week during a rebel attack on a Chinese oil field near the Somali border have been released.
The Ogaden National Liberation Front, a militant group fighting for control of eastern Ethiopia, claimed responsibility for the attack last week, which is run by a division of [...]

BP looks set to win a controlling stake in Pakistan State Oil (PSO) in a deal worth around $600 million.The Pakistani Government owns 54 per cent of PSO and is selling 51 per cent stake in the group, leaving 3 per cent in government hands.
BP has been competing with Petronas, the Malaysian oil and gas [...]

Only 10 days after Congressman Maurice Hinchey introduced the End Oil Aid Bill in the U.S. Congress, more than 150 organizations from 50 countries have written to House Speaker, Nancy Pelosi, recognizing her clean energy efforts and calling on her to lend support to eliminate international ‘oil aid’.
The letter (Acrobat pdf) cites over $20 billion [...]

Direct World Bank financing for oil companies is worth hundreds of millions of dollars a year, but the Bank’s behind the scenes work to make the world safe for Big Oil is priceless.
While Bank support for mega-projects involving companies like Exxon and BP may get most of the attention, the Bank’s biggest impact on [...]