World oil prices have reached new peaks, above 74.0 dollars in London and 72.0 dollars in New York owing to low stocks of gasoline in the United States and tensions over Iran's nuclear programme. Struck a record high of 74.22 dollars per barrel
A tiny chemical reactor that can convert vegetable oil directly into biodiesel could help farmers turn some of their crops into homegrown fuel to operate agricultural equipment instead of relying on costly imported oil.
Oil traded above $72 for a second day in New York after a government report showed U.S. stockpiles unexpectedly fell as the peak season for demand approaches.
The U.S. Energy Department said the nation's supply of gasoline shrank by a larger-than-expected 5.4 million barrels last week to 202.5 million barrels. The decline, the seventh in as many weeks, pushed gasoline [When demand exceeds supply?]
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"The Iranian situation is getting no better and any combination of events could lead to a conflagration,'' said Michael Fitzpatrick, vice president of energy risk management at Fimat USA Inc. in New York. ``China's GDP is growing at
In an extreme energy project tapping heat from raw sewage, Oslo's citizens are helping to warm their homes and offices simply by flushing the toilet. Large blue machines at the end of a 300-meter long tunnel in a hillside in central Oslo use frid
Venezuela has taken control of two oil fields operated by French firm Total and Italy's Eni. The government said it had taken the step after failing to agree a deal with the two firms which would give it a majority stake in new ventures.
The Bush administration's landmark nuclear deal with India could alter the world's nonproliferation regime, and rewrite the geopolitical rules of South Asia. If it passes Congress in its current form, that is. And that is far from a foregone
Nigerian militants freed 3 foreign oil workers after five weeks in captivity and said their fighters would now focus on crippling oil exports from the world's eighth largest supplier.
The average retail price of gasoline soared by almost 14 cents last week, rising above $2.50 a gallon for the first time since late October.
The US is threatening to ban oil exports from Venezuela, Jose Vicente Rangel, Venezuela's Vice President said on Friday. "If we can sell gasoline to China, India and Latin America, as we have been doing, we will not have a problem," he
Rebels blew up an oil pipeline in Nigeria's southern delta, further hitting oil supplies. The latest in a series of attacks on oil installations in the eighth biggest oil-exporting country, which had already reduced supplies by a quarter.
Using GNEP's new fuel technology, called UREX-Plus, the US could end its 3-decade moratorium on reprocessing spent nuclear fuel intended to keep plutonium from spreading, officials say. "The goal of GNEP is recovery of the energy in a way th
Leaders of a militant group that is holding 2 Americans hostage and has disrupted world oil markets say they are fighting for justice and economic development. They warned foreign oil workers must leave the region or risk being killed.
A New York Times article reports that last July's discovery at Purdue is under close peer review,... but shhhhhhhh.
Too little oversight of financial markets — not supply and demand problems — are to blame for skyrocketing natural gas prices, top law enforcement officials in four Midwestern states said Tuesday.
U.S. drivers saw gasoline prices soar an average 7.7 cents a gallon over the last week. The national price for regular unleaded gasoline jumped to $2.33 a gallon, up 33 cents from a year ago and the highest level in a month.
Had the terrorists succeeded in penetrating the guarded facility and detonating their bombs inside, they might have released toxic chemicals that could have killed and sickened thousands.The damage to the world economy would have been severe
Al Qaeda has advised followers to attack pipelines in Saudi Arabia and Iraq but to steer clear of oil wells because they are the lifeline of Muslim states. Disrupting oil supplies would hurt the US economy and destabilize the Saudi royal family.
The Interior Department disclosed that a provision was mysteriously deleted from hundreds of federal drilling leases in the late 1990s that would have required producers to pay royalties, once prices reached a certain level, on oil or gas taken from
Connecticut has given social service agencies permission to supply low-income residents with discounted heating oil from Venezuela, whose energy aid program for the U.S. needy has rankled the Bush administration.
Al-Qaida has claimed responsibility by 2 of its members for the foiled attack on a Saudi Arabian oil facility at Abqaiq. This was an effort by al-Qaida to prevent the theft of Muslims' wealth by "crusaders and Jews" and to force "i
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Ecuador reached an agreement with oil protesters late on Wednesday to halt violent demonstrations in Napo province that have shut down a major pipeline. "Now we will go ahead and negotiate their demands."
Militants in the Niger delta mounted fresh attacks on oil installations yesterday, extending a wave of sabotage which has crippled exports from Africa's leading oil producer. The guerrillas seized a Nigerian army post and dynamited a floating bar
The US has brushed off Venezuelan President Hugo Chavez's latest taunts to Secretary of State Condoleezza Rice and his new threat to cut off oil supplies [to the US].
[While threatening to nuke Iran for the same,] President Bush warned that US dependency on oil left the country "hostage" to countries that may be hostile and urged new nuclear plant construction by 2010.
WHITE HOUSE -- President George W. Bush is heading out on a three-state tour promoting technologies that he hopes will help the United States kick its imported-oil habit. The tour is taking him to Wisconsin, Michigan and Colorado, and it will reprise