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Bolivia´s President Evo Morales is analyzing Monday with specialized officials the current situation of Andina Co., controlled by Spanish transnational Repsol which is accused of illegally trafficking petroleum.
The commander of Nigeria's military operation in the oil-rich Niger delta has warned of more unrest there as Africa's biggest oil producer and most populous nation heads towards national elections next year.
Mauritanian leaders and Australia's Woodside Petroleum have still to reach agreement over contracts, a fortnight before an oil production deal starts.
Evo Morales was sworn in on Sunday as Bolivia's first indigenous president in a historic and emotional ceremony that set the tone for his new government, promising to move much the profits of Bolivia's natural resources to the people of Bolivia.
The oil giant Royal Dutch Shell was considering pulling out of the volatile Niger Delta region yesterday after heavily armed militants stormed one of its facilities and killed at least 17 people.
Spanish energy giant Repsol-YPF said that it respects international law, in reaction to accusations that the company claimed to own part of Bolivia's gas reserves.
For months a pitched battle has been fought between communities that claim authority over this village and the right to control what lies beneath its watery ground: a potentially vast field of crude oil that has caught the attention of a major energy company.
The corruption-prone country expects oil revenues to total $160 billion by 2025.
Venezuela has
given the world's biggest oil company, ExxonMobil, until the end of
this year to enter a joint venture with the state.
Failure to do so will almost certainly result in Exxon losing its oil field concessions in the country.
Venezuela's socialist government has now signed new agreements with almost all foreign petroleum companies.
After months of pressure from left- wing leader Hugo Chavez most foreign oil firms working there have caved in.
An antitrust lawsuit filed against Exxon Mobil Corp. and BP PLC claims the two oil giants are restricting the nation's supply of natural gas and keeping prices at record highs.
Oil giant Total is to compensate Burmese villagers who claimed they were used as forced labour during the building of a major gas pipeline.
December 9, 2005
Ebocha Journal
Strangers in the Dazzling Night: A Mix of Oil and Misery
By LYDIA POLGREEN
EBOCHA, Nigeria - The sun had almost set, and another glum happy hour arrived at One for the Road. Veronica, its proprietor, put out her white plastic chairs and tables, checked her stock of chilled beer and waited for paying customers. There was no need to switch on the lights. Across from her tavern, day and night, burns a ghastly, eternal flame.
Azerbaijan prepares for another round of oil wealth and risk as a consortium led by BP gets ready to pump one million barrels a day from a big offshore field to Turkey's Mediterranean port of Ceyhan.