Energy, Mining & Utilities
Diamond is a neighborhood of four streets in the town of Norco, Louisiana, 40 miles up the Mississippi River from New Orleans. Diamond is in the heart of the region's infamous ''Cancer Alley.''
LOS ANGELES (May 6, 2002) -- At its annual shareholder meeting today, Occidental Petroleum (NYSE:OXY) announced its plans to return to the Colombian government its controversial Siriri oil block (formally Samore), located on the traditional territory of the U'wa people. This follows a nearly decade-long peaceful campaign by the U'wa to halt the oil project.
Sierra Leone police opened fire on a group of protestors who were demonstrating against a palm oil plantation in the southern province of Pujehun. The project is being developed by Societe Financiere des Caoutchoucs (Socfin), a French agri-business giant.
"For the government, if they lose the Enron case, it will be seen as a symbolic failure of their rather significant campaign against white-collar crime," said John C. Coffee Jr., a professor at Columbia Law School. "It will be seen as some evidence that some cases are too complicated to be brought into the criminal justice process."
The oil executives were sworn in. This formality created the very kind of picture - six of the most powerful American executives lined up with their right hands up in the air - that they had sought to avoid. Otherwise, much of the theatrics were the same, and so were the arguments from the oil executives.
Dueling reports released yesterday -- one by a consortium largely funded by the biotech industry and the other by a pair of environmental and consumer groups -- came to those diametrically different conclusions.
The leader of Bolivia on Thursday ruled out compensating oil companies for nationalized oil and gas fields as he came under questioning from European officials at the start of a high-level meeting on energy and trade.