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Big international energy groups and state-owned oil companies from China and India are circling Kosmos Energy for its Ghanaian oilfield assets, which have been valued at $3bn-$6bn by analysts. The sale could open an oil corridor off the west African coast, stretching as far north-west as Sierra Leone.

All was remarkably staid as shareholders celebrated Halliburton's $4 billion in operating profits in 2008 at the company's recent AGM in Houston, a striking 22 percent return at a time when many companies are announcing record losses. At the same time, Sen. Byron Dorgan's Senate Democratic Policy Committee was holding a hearing on Capitol Hill focused on abuses by former subsidiary KBR.

At Halliburton's recent annual shareholders meeting in Houston, all was remarkably staid as the company celebrated its $4 billion in 2008 operating profits, a striking 22% return at a time when many companies are announcing record losses.

Just three months ago, however, Halliburton didn't hesitate to pay $382 million in fines to the U.S. Department of Justice as part of the settlement of a controversial KBR gas project in Nigeria in which the company admitted to paying a $180 million bribe to government officials.

U.S. Agriculture Secretary Tom Vilsack issued a temporary order yesterday governing development in "roadless" areas of national forests, requiring all new projects to be approved by him personally. A USDA official said it is unclear whether projects with a strictly commercial aim, such as logging or mining, will be allowed.

As the Obama administration tries to steer America toward cleaner sources of energy, it would do well to consider the cautionary tale of this new-generation nuclear reactor site. The massive power plant under construction on muddy terrain on this Finnish island was supposed to be the showpiece of a nuclear renaissance. But things have not gone as planned.

In a combative and sometimes colorful annual meeting, Chevron's CEO and chairman exchanged barbs with activists over pollution in the Amazon rain forest and the company's human rights record. The nation's second-largest oil company is awaiting a verdict from a judge in Ecuador that could come with a $27 billion price tag.

Chevron's 2008 annual report is a glossy celebration of the company's most profitable year in its history. What Chevron's annual report does not tell its shareholders is the true cost paid for those financial returns, or the global movement gaining voice and strength against the company's abuses. This jointly-produced report documents negative impacts of Chevron's operations around the globe, in stark contrast to the message sent by the company's ubiquitous "Human Energy" advertising campaign.

The Justice Department is increasing its prosecutions of alleged acts of foreign bribery by U.S. corporations, forcing them to take costly steps to defend against scrutiny. The crackdown under the Foreign Corrupt Practices Act, or FCPA -- a post-Watergate law largely dormant for decades -- now extends across five continents and penetrates entire industries.

Originally posted at http://www.sfgate.com/cgi-bin/blogs/green/detail?entry_id=40674

France's new naval base in Abu Dhabi, its first overseas military base in 50 years, has sparked a round of lobbying on behalf of lucrative business for French companies including Dassault, the military aircraft maker, and a consortium of Total, GdF-Suez and Areva, which is bidding to build two nuclear power stations in the UAE. Dassault is hoping to sell as many as 60 of its Rafale fighters to the UAE.