New data on Iraq oil revenues suggests that country’s government will reap an even larger than expected windfall this year — as much as $70 billion — according to the special U.S. auditor for Iraq.
New figures from Iraq’s government show revenue from exports hit $5.83 billion in December — more than $1 billion over what […]

Climate change could cause global conflicts as large as the two world wars but lasting for centuries unless the problem is controlled, a leading think tank has warned.
The Royal United Services Institute, based in the UK, said a tenfold increase in research spending, comparable to the amount spent on the Apollo space programme, will be […]

The Iraqi Oil Minister Hussein Al-Shahristani has said the country will likely drop oil service contracts with foreign companies if they don’t have their proposals finalized by a June deadline and will move forward with the work on its own.
“June is already a bit late… We may drop them if they aren’t signed soon ( […]

Alaska officials have rejected Exxon Mobil’s latest plans to develop the giant Point Thomson oil and natural-gas field, setting up a legal showdown to determine whether the state can revoke the lease.
The move is the latest sign of how testy the relationship between Alaska and oil companies has grown in recent months as state officials […]

Only last week, Brazil’s President Luiz Inacio Lula da Silva rejected allegations that biofuels are responsible for the recent rise in global food prices. In a diplomatic rebuke, two other Latin American leaders have now issued dire warnings about the effects of biofuel production on food supplies.
Speaking at the UN in New York, Bolivian President […]