Even after spending $2.7 billion in U.S. reconstruction funds, Iraq’s oil sector has failed to achieve any of the goals to boost production, according to a new report by the Government Accountability Office.
Indeed, the highest production levels were reached back in 2004 and have not been equaled since then. In addition, the State Department’s oil […]

The melting of mountain glaciers and ice caps as a result of global warming over the next century is likely to cause bigger than expected increases in sea levels, according to scientists.
An assessment of the volume of water running into the oceans from melting ice caps suggests that sea levels could rise by two to […]

As part of Global Cool’s campaign to raise awareness of climate change in India, Hollywood celebrity actress Sienna Miller has joined forces with Indian superstar Amitabh Bachchan to urge Indians to do more to curb global warming.
The Hollywood actress, and star of “Casanova,” “Layer Cake” and “Alfie” met Bachchan in Mumbai at the start of […]

Further details have emerged of CNOOC’s oil contract with the Somali government. It grants the Chinese state giant the right to almost half of any profits from production but also promises large bonuses to the Somalis if significant discoveries are made.
A production-sharing contract signed last year gives CNOOC and its partner, China International Oil and […]

Nigerian President Umaru Musa Yar’Adua has warned that oil companies operating in Nigeria must be made to pay heavy fines for oil spills caused by them.
Taking a much stronger line than any of his predecessors, the President said that regulatory authorities must ensure that stiff penalties are imposed on companies that default in cleaning up […]