Royal Dutch Shell says an oil spill in the waters off Nigeria has been stopped and oil “largely dispersed” less than a week after the leak began, and before the oil reached the West African nation’s coastline. In a statement Monday, the oil giant said it will continue to monitor the area and clean up […]
Afghanistan to Sign Oil Deal with China
Posted December 26th, 2011 at 12:05 pm (UTC-5)
Afghanistan has agreed to sign a deal with a state-owned Chinese oil company for oil exploration and extraction. President Hamid Karzai’s office announced Monday China National Petroleum Corporation will work with Afghan company Watan Group to develop three oil fields in northern Afghanistan. The area is estimated to hold around 87 million barrels of oil. […]
Environmental Group Says Nigerian Oil Spill Stretches 900 Square Kilometers
Posted December 23rd, 2011 at 8:20 pm (UTC-5)
An environmental group says an oil spill off the coast of Nigeria this past week could stretch across more than 900 square kilometers of ocean. The U.S.-based group, SkyTruth, says it estimates from satellite images it has obtained that the slick is 70 kilometers long and spans 17 kilometers at its widest point. Royal Dutch […]
Nigeria Races to Keep Away Worst Offshore Oil Spill in a Decade
Posted December 22nd, 2011 at 2:20 pm (UTC-5)
Nigerian authorities are trying to prevent the worst offshore oil spill in a decade from reaching the West African nation’s southern coastline. Officials said the spill from a Royal Dutch Shell oil field about 120 kilometers off the coast was moving toward the shore Thursday, two days after it began. The head of Nigeria’s National […]
Life Raft Found Near Sunken Russian Oil Platform
Posted December 19th, 2011 at 4:35 am (UTC-5)
A life raft was spotted Monday in the icy waters near a capsized Russian oil rig. The raft could hold as many as 15 people. Rescue crews could not immediately confirm if there are any survivors on board. At least 16 people are dead while the fate of 37 others remains unknown after the drilling […]
More than 50 Presumed Dead in Russia Oil Platform Accident
Posted December 18th, 2011 at 2:40 pm (UTC-5)
At least four people are dead and 49 others missing and presumed dead after a Russian oil rig capsized and sank early Sunday in the frigid Sea of Okhotsk. The Russian Transportation Ministry said 14 crew were rescued by an icebreaker and a tug boat after the platform was smashed by a giant wave and […]
4 Dead, 49 Missing in Russia Oil Platform Accident
Posted December 18th, 2011 at 8:10 am (UTC-5)
Russian officials say search and rescue efforts have been called off for the night, leaving 49 crew members still missing after an oil drilling rig with 67 crew on board capsized and sank in icy waters off the Far East island of Sakhalin. A regional emergency ministry spokesman told reporters that four crewmen were confirmed […]
2 Dead, 51 Missing in Russia Oil Platform Accident
Posted December 18th, 2011 at 4:10 am (UTC-5)
Russian officials say at least two people are dead and 51 are missing after an oil drilling rig with 67 crew on board capsized and sank in icy waters off the Far East island of Sakhalin. A regional emergency ministry spokesman told reporters that 14 crew members were rescued from the Kolskoye platform. They are […]
Prices Fall For Key Commodities
Posted December 14th, 2011 at 1:05 pm (UTC-5)
Prices for oil and gold fell on world markets Wednesday, as some worried investors shunned euros and bought U.S. dollars. Concerns about the European debt crisis were a factor in pushing the value of the euro below $1.30. That brought the dollar to its highest level in 11 months. The stronger dollar means the greenback […]
Early Freeze Stops Alaska Fuel Delivery
Posted December 6th, 2011 at 7:10 am (UTC-5)
With the port of Nome, Alaska frozen shut by an early season storm, residents of the far northern U.S. town are faced with the prospect of extremely high gasoline prices. The port froze before the final fuel delivery of the season arrived. Local government officials have researched alternative ways to get the fuel into Nome. […]
