Today’s stories are all about big bucks. Oil giant Shell is facing renewed accusations of profiteering after reporting record profits of $27.6bn - the highest-ever figure reported by a British company.
The huge profits - equivalent to more than $3m an hour and a 9% increase on last year - will cause anger amongst Britain’s motorists […]

Canada’s Suncor Energy has said it will spend C$20.6 billion on an expansion scheme that will make it the biggest producer in the oil sands of northern Alberta.
Suncor’s board of directors gave the go-ahead for the Voyageur project, a 200,000 barrel-a-day expansion of the company’s already massive oil sands operations near Fort McMurray, Alberta. Voyageur […]

A new report says the Iraqi Government could earn an extra $19.2 billion of revenue this year as a result of higher crude oil prices and the revival of the country’s own oil industry.
The prediction is suggested by figures set out in the latest quarterly report from Stuart Bowen, Special Inspector General for Iraq Reconstruction […]

A fascinating story tucked away in the Gulf press.
An anonymous Iraqi MP claims that some U.S. companies have offered a $5 million bribe to each Iraqi MP for passing Iraq’s controversial oil and gas law which has been stalled in the parliament for more than a year.

Suddenly Ed-the-Earth-Destroyer Stelmach is hounded everywhere he goes.
He was the target of environmental groups that protested outside Canada’s climate change conference in Vancouver.
But Stelmach fended off criticism over his government’s new climate-change strategy that won’t see absolute greenhouse gas reductions until 2020. Stelmach warned that implementing dramatic emissions reductions in Alberta similar to what’s called […]