General Muhammadu Buhari was inaugurated as president of Nigeria Friday in the nation’s capital, delivering a speech in which he vowed to fight “official bungling” and eliminate the presence of terror group Boko Haram in the nation.
OPEC’s attempt to over-produce crude oil for export to crush prices and bankrupt the American shale-fracking oil boom has failed, according to a draft OPEC long-term strategy report seen by Reuters ahead of the cartel’s policy meeting in Vienna on June 1st.
Strange black blobs of tar-like goo surged on onto southern California’s Manhattan Beach by the thousands, closing down the two-mile area Wednesday while the U.S. Coast Guard and National Ocean and Atmospheric Administration are investigating the source and substance.
The New York Times offers a dismaying look at the Islamic State’s financial situation by Sarah Almukhtar: She looks at data from the RAND Corporation and judges that the modern-day Mordor “has revenue and assets that are more than enough to cover its current expenses despite expectations that airstrikes and falling oil prices would hurt the group’s finances.”
Texas Governor Greg Abbott has signed into law House Bill 40, which restricts cities and towns from imposing local ordinances that regulate oil and gas drilling, or attempt to ban fracking operations. The new law became effective immediately on Monday, May 18.
FIFA President Sepp Blatter allegedly will not enter the United States due to an FBI investigation over rewarding the 2018 World Cup to Russia and the 2022 World Cup to Qatar.
Royal Dutch Shell’s Arctic drilling program has taken one step closer to gaining approval to begin drilling off the northwestern coast of Alaska, but furious environmentalists are planning to stop the oil rigs with a kayak flotilla.
Sticky, black gobs of tar goo are washing up on southern California beaches–but before climate change activists sound the alarm, experts are saying the phenomenon is completely natural.
Dr. Carson, I know you are smart, very smart. But you know medicine. You need very smart people to advise you on energy policy now, before you address the topic any further. I have a cadre of energy experts that I could make available to you—and any candidate who wants smart energy policy. Call me, maybe?
Saudi Arabia is still rich, but they are burning through their foreign reserve cash at a record pace due to lower oil prices and an unwillingness to cut the domestic spending that ensures the survival of the royal family. With the nation hemorrhaging cash, Saudi Arabia’s total foreign reserves fell by 5 percent, or $36 billion in just the last two months.
Russian President Vladimir Putin admitted this week that Western sanctions placed on Russia’s banks and oligarchs have damaged the nation’s economy, but he is confident Russia will remain strong and continue to grow.
Russian President Vladimir Putin is facing protests from unpaid government workers across the largest country in the world. Teachers, autoworkers, and construction workers were among the workers who protested against Putin.
This week, the Venezuelan government announced a series of manufacturing and infrastructure investments from China that could ultimately amount to up to $20 billion in ten years, though China only agreed to an initial $5 billion in “development” funds this Sunday.
The Guardian has run a piece attacking ExxonMobil for its stubborn, selfish refusal to stop being an oil business. Here’s how the oil giant responded when asked for a quote: “ExxonMobil will not respond to Guardian inquiries because of its
In a surprising assessment that indicates the Venezuelan economy is doing worse than its socialist government has indicated, a Barclay’s report on the nation’s oil exports show that the nation has reduced exports of crude to the Caribbean by at least half, including exports to its greatest political ally, Cuba.
Only an hour after the Obama administration released new rules for hydraulic fracturing, also known as fracking, the oil and natural gas industry had a response to the rules.
As a result of declining U.S. oil prices, companies continue to cut jobs, challenging families across the nation to overcome the loss of employment and income.
The Saudi Arabian government released Mayssa al-Amoudi and Loujain al-Hathloul from jail after 72 days after being imprisoned for driving. Women are not allowed to drive in the country.
In a video posted on the White House’s website on Sunday, President Barack Obama announced his administration’s effort to protect the Arctic National Wildlife Refuge, which includes preventing oil exploration in the area. Transcript as follows: Alaska’s National Wildlife refuge
A committee investigation the involvement of Kurdish officials in illegally smuggling cars, food, and fuel across territories held by ISIS, largely seen as engaging in a business relationship with the Islamic terrorists organization, has implicated them in the trade and will decide
President Obama and his minions, who refused to believe that increasing U.S. oil production would drive the price of gas into the ground, are now eating oily crow.
Iranian President Hassan Rouhani said on Tuesday that nations responsible for the downward spiral of oil prices will suffer.
For the first time since 2009, the price of United States oil fell below $50 a barrel, and Brent crude (West Texas Intermediate crude) fell to a five-and-a-half year low of $51.12 per barrel. That statistic is in great part due to fracking and a global excess in oil supply, combined with OPEC’s refusal to slow its production.
Venezuelan President Nicolás Maduro is currently en route to China to ask President Xi Jinping for some much-needed financial assistance in light of an oil crisis that has left a mismanaged and increasingly impoverished Venezuela on the brink of disaster.
The recent plunge in gas prices has been welcome relief for many, but today’s price at the pump still isn’t what it used to be in nominal and inflation-adjusted real terms, reports the Wall Street Journal.
(Reuters) – Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world’s biggest crude exporter, takes action to reverse the slump, Iran’s deputy foreign minister told Reuters.
In an interview with Bloomberg earlier this week, former Federal Reserve Chairman Alan Greenspan commented on oil prices and the functionality of the OPEC cartel. Partial transcript as follows: GREENSPAN: OPEC is no longer the modular producer, and as far
Despite tumbling oil prices, Saudi Arabia’s oil minister has insisted the country will not slash production in order to keep prices up. Brent crude oil – whose per barrel price is used as a world bench mark – dropped by another
On Tuesday, the Commerce Department released revised GDP figures that showed third quarter growth at 5%, the strongest third-quarter growth in eleven years.
MCALLEN, Texas — A massive gas explosion and fire south of the Texas border forced Tamaulipas authorities to scramble firefighters and emergency personnel. Unlike previous explosions, no injuries have been reported. The explosion took place Wednesday afternoon near the rural
Although Iraq’s semi-autonomous region of Kurdistan is currently engaged in a war against the Islamic State and faces massive sectarian tension with neighboring lands, the Kurds are getting closer to reaching economic independence through its booming oil revenues. Earlier this
