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Skyrocketing energy prices propelled ExxonMobil (XOM) to the top of the 2006 Fortune 500 list, and consigned Wal-Mart (WMT) to the No. 2 spot on the magazine's annual ranking of the nation's largest publicly traded companies.
Venezuela has taken control of two oil fields operated by French firm Total and Italy's Eni.
Last month, the Bush administration confirmed that it expected the government to waive about $7 billion in royalties over the next five years, even though the industry incentive was expressly conceived of for times when energy prices were low. And that number could quadruple to more than $28 billion if a lawsuit filed last week challenging one of the program's remaining restrictions proves successful.
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.
U.S. hostage Macon Hawkins and five other foreign oil workers kidnapped last month by Nigerian militants were freed today.
A House Republican began a broad investigation on Wednesday of an Interior Department program that is expected to give billions of dollars in benefits over the next five years to companies that pump oil and gas on federal territory.
The federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years.
Villagers in Okerenkoko, once a peaceful settlement along a creek in Nigeria's oil-producing delta region, have feared for weeks what a big military operation against a guerrilla insurgency could bring.
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.