It is the latest twist in the on-going soap opera of Ecuadorian oil.
You have the Indigenous Indians fighting in the courts in a multi-billion battle against Texaco’s lethal toxic legacy – a battle that has been going on for decades.
But now the tiny Latin American country is threatening to follow its powerful neighbour, Venezuela, and [...]

The corridors of power in Buenos Aires would have been chortling with laughter yesterday as the British oil boom in the Falklands looked like going bust, even before it began.
Over the last month, as the oil-industry hype grew, the war of words between Argentina and Britain escalated, threatening to become a full blown diplomatic war.
But [...]

Just days after outlining its business strategy BP is offering a massive $7 billion in cash to buy Devon Energy’s deepwater assets.
In a broad-ranging deal, BP will pay Devon Energy $7 billion for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico.
Interestingly the deal also involves extraction of the oil sands. BP will [...]

Tensions are rising rapidly over the imminent oil exploration around the Falklands.
Yesterday Argentina accused Britain of “whipping up the spectre of war” after the British Prime Minister Gordon Brown, insisted the Falkland Islands were being properly protected to allow oil and gas exploration.
“We have made all the preparations necessary to make sure the Falklands Islands [...]

Whilst international attention has focussed recently on the ecological and climatic impact of the tar sands, another heavy oil boom is happening which is equally important.
Just three years after a spate of nationalisations in the heavy oil belt of Orinoco, Venezuela has once again signed deals with foreign companies that require investments of up to [...]