Tony Hayward, BP’s fresh-faced CEO, is preparing staff for a far-reaching shake-up of the oil company as he delivered a blunt warning that third-quarter revenues would be “dreadful”.
Hayward told a staff meeting in Houston he would be announcing a streamlining of the company’s organisation next month. He said that BP’s financial performance was at its […]

The Bush administration was criticised yesterday for organising an alternative climate change forum, as the United Nations secretary general stressed that the UN is the best place to discuss global measures.
“The UN climate process is the appropriate forum for negotiating global action,” the UN’s Ban Ki-moon, told world leaders and superstars of the climate movement, […]

The Russian mid-sized oil firm Tatneft has given Shell’s operations in Russia a boost by choosing it as its partner in developing vast deposits of heavy bitumen oil in the Volga region in the republic of Tatarstan.
Although no specific details of the agreement have been made public the firm has said it will choose […]

Former US President, Bill Clinton, has told the Financial Times the US needs to unleash “the greatest concentration of economic activity since we mobilised for World War II” by embracing new energy technology and regulatory incentives to tackle climate change.
His comments come as leaders of 80 countries are expected to attend a special UN meeting […]

MEND has threatened to resume attacks on oil facilities in the Niger Delta and kidnapping of foreigners, ending a four-month ceasefire. The threat follows the arrest of a factional leader of MEND, Henry Okah, in Angola on arms trafficking.
“With effect from 12 midnight today, Sunday September 23, 2007, we will commence attacks on […]