All the signs have been there for a while, but now the head economist of the International Energy Agency, Fatih Birol has succinctly articulated the growing crisis for the oil majors. They are doomed to become “niche players” in the oil sector, he predicts.
“Western oil companies are going through an identity crisis,” argues Birol. “Enormous […]

An agrarian crisis is brewing because of climate change that could jeopardise global food supplies and increase the risk of hunger for a billion poorest of the poor, scientists are warning.
South Asia and Africa would be hardest hit by the crisis, which would shift the world’s priorities away from boosting food output year after year […]

Ecuador is the latest oil-producing country to try and renegotiate the terms and conditions over contracts, this time trying to impose a windfall tax on Chinese companies in the country.
However the Chinese state oil firms are seeking international arbitration to try to overturn the move, arguing it threatens millions of dollars of investment in the […]

The British Government will present plans to build a third runway at Heathrow which will effectively double the number of flights from the airport.
The Transport Secretary, Ruth Kelly will publish proposals today for building a new runway dedicated to short-haul flights by 2020. In the interim, she intends to allow up to 60,000 more flights […]

The major oil spill off the southern coast of Russia killed over 15,000 birds and poisoned over 20,000, the state agricultural and natural resources monitoring agency has confirmed.
“It is impossible to determine the exact number of perished birds due to the fact that the dead birds were swept to the beach and covered by some […]