BP has announced that it is planning to spend $500 million to set up a biofuels research centre that will be attached to a major US or UK university. BP says the centre – which will be called the BP Energy Biosciences Institute – will focus on improving the efficiency of existing biofuels; developing new … Read More
Day: June 21, 2006
China Buys Billion-Barrel Russian Field from TNK-BP
The dragon is thirsty. China’s consumption of oil has risen exponentially in the past decade and by last year it was the largest oil importer after the US. Slowly but surely China is buying up foreign oil and gas reserves to fuel its rapidly growing economy. In little under a year, Chinese firms have signed … Read More