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New Oil Spill Found Off China’s Coast

Posted July 12th, 2011 at 11:25 am (UTC-5)
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An off-shore oil rig has leaked and spread oil over about one square kilometer off China’s northeast coast, the third oil spill in the area in less than two months. The State Oceanic Administration says the leak occurred in the Suizhong 36-1 oil field, operated by China National Offshore Oil Corporation, in the region known […]

Tags: , , Posted in East Asia Pacific

BP Wants to Stop Paying Future Loss Claims

Posted July 8th, 2011 at 8:50 pm (UTC-5)
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British oil company BP says it should not have to pay for potential future economic losses to people in the U.S. Gulf region, saying the economy there has recovered from the 2010 oil rig explosion and massive oil spill. In a 29-page document made public Friday, the company noted that tourism is booming in the […]

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South Sudan Oil Could Bypass North

Posted July 6th, 2011 at 1:05 pm (UTC-5)
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South Sudan is talking about building new pipelines to pump oil through Kenya instead of going north through Khartoum. South Sudan Road and Transport Minister Anthony Lino Makana told reporters Wednesday that building a new pipeline “is not a hard thing for us.” He said several oil companies have already approached South Sudan about the […]

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Montana Governor Responds to Spill With Emergency Declaration

Posted July 6th, 2011 at 11:40 am (UTC-5)
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The governor of the U.S. state of Montana has declared an emergency in seven counties affected by an oil spill into the Yellowstone River from a ruptured pipeline. Governor Brian Schweitzer issued the order late Tuesday. It lists the ExxonMobile oil company as being responsible for the spill. Exxon officials have said they have seen […]

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US, Chinese Oil Firms Face Heat Over Oil Spills

Posted July 6th, 2011 at 6:15 am (UTC-5)
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U.S. and Chinese oil companies are facing harsh criticism for their failure to disclose an oil spill off the eastern coast of China for almost a month. The environmental group Greenpeace said it is “disappointed” in the delays in reporting the spill, which has contaminated 840 square kilometers in Bohai Bay off the coast of […]

Chinese Firm Denies Cover-Up in Yellow Sea Oil Spill

Posted July 5th, 2011 at 3:50 am (UTC-5)
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Chinese state media are warning of potential long-term environmental damage from a Yellow Sea oil spill that went virtually unreported for two weeks. A spokesman for China’s largest offshore oil and gas producer is quoted Tuesday in the Communist Party-controlled Global Times denying any attempt to cover up the spill off northeastern Shandong province. The […]

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Oil Pipeline Ruptures in Western US

Posted July 5th, 2011 at 1:10 am (UTC-5)
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Officials in the western U.S. state of Montana say an oil pipeline that ruptured last week dumped about 1,000 barrels of crude oil into the rain-swollen Yellowstone River. The spill from the ExxonMobil pipeline late Friday near the town of Laurel sent oil many kilometers downstream in the river known for its superb fishing. Residents […]

Tags: , , Posted in Economy, US

Oil Pipeline Ruptures in Western US

Posted July 2nd, 2011 at 8:25 pm (UTC-5)
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An oil pipeline that runs under the Yellowstone River in the western U.S. state of Montana has ruptured, dumping an unknown amount of oil into the waterway. The ExxonMobil pipeline ruptured late Friday near the town of Laurel and prompted an evacuation of local residents. Witnesses reported seeing an oil slick in the river. Exxon […]

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Chinese Firm Opens Iraq’s First Oil Field in 20 Years

Posted June 28th, 2011 at 1:45 am (UTC-5)
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China’s largest state oil company says it has begun operations at an oil field in Iraq, marking the first new oil project to get under way in that country in more than 20 years. The China National Petroleum Corporation said on its website that it began pumping oil last week at the Al-Ahdab field 180 […]

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Oil Importers Release Emergency Supplies To Ease Prices

Posted June 23rd, 2011 at 12:55 pm (UTC-5)
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(new info grafs 3 & 5) The 28 member nations of the International Energy Agency say they will release millions of barrels of oil from emergency stocks over the next month to make up for production curtailed by fighting in Libya. IEA officials say disruptions in Libya have kept 132 million barrels of high grade […]

Tags: , , , Posted in Economy