Kenya to Receive 500,000 Barrels of Oil Monthly From Sudan

Sudan will supply 500,000 barrels of crude oil monthly to Kenya in keeping with an agreement signed at the weekend by the two countries.

Venezuela Increases Proven Oil Reserves By 30%

Venezuela’s Minister of Energy and Petroleum, Rafael Ramirez, announced yesterday that the country’s proven oil reserves have been increased to 130 billion barrels, a 30% increase over previous official figures. Ramirez made the announcement...

Volcano Gas Technology Could be the Key to Unlock More North Sea Oil

Cutting edge technology from the United States that uses gas from an extinct volcano to extract more oil from mature fields is to be examined by UK Energy Minister Malcolm Wicks. Mr. Wicks will be visiting Denbury Resources Inc, an American oil and gas...

American Public Says US Government Not Facing Reality That Oil is Running Out

A new WorldPublicOpinion.org poll finds that a majority of Americans think that their government is failing to prepare for the ultimate depletion of oil reserves. Three out of four Americans (76%) say that the government should assume that “oil...

Pulling Out of Iraq Could Make Oil Prices Reach $200 a Barrel

On Fox News Sunday yesterday, former White House adviser Karl Rove claimed that redeployment from Iraq would cause oil prices to shoot to $200 a barrel. “If we were to give up Iraq with the third largest oil reserves in the world to the control...