Monday, May 20th
Last update02:11:22 AM GMT
Energy Glance
After scarring the ancient landscapes of Jerusalem and Bethlehem in the name of security, Israel’s separation barrier had been slated to carve through this Palestinian village’s 2,500-year old farm terraces and aqueducts.
But for the first time in years, Israel’s high court has given Batir and its 6,000 residents – famed for its annual yield of aubergines – reason to hope that a way of life preserved through centuries won’t be destroyed.
A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.
Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday, a source familiar with the investigation said on Friday.
Oil companies will face the full force of the law if they manipulated prices, Britain's energy minister said on Wednesday as a rating agency warned of massive fines if a European Commission's probe into oil pricing found any wrongdoing.
Oil firm Eni (ENI.MI) said the European Commission had asked it to provide information, although it was not being probed.
The Italian company's statement came a day after the offices of Shell (RDSa.L), BP (BP.L) and Statoil (STL.OL) were raided by investigators over suspected oil price manipulation.
More than 21 million acres offshore Texas will go on the auction block to energy explorers in an August sale in New Orleans, the U.S. government announced.
The U.S. Interior Department and its Bureau of Ocean Energy Management said the auction would open unleased areas in the western Gulf of Mexico.
On August 28, 1928, in the Scottish highlands, began the secret story of oil. Three men had an appointment at Achnacarry Castle - a Dutchman, an American and an Englishman.
The Dutchman was Henry Deterding, a man nicknamed the Napoleon of Oil, having exploited a find in Sumatra. He joined forces with a rich ship owner and painted Shell salesman and together the two men founded Royal Dutch Shell.
The American was Walter C. Teagle and he represents the Standard Oil Company, founded by John D. Rockefeller at the age of 31 - the future Exxon. Oil wells, transport, refining and distribution of oil - everything is controlled by Standard oil.
A fourth government probe is under way into Royal Dutch Shell's mishap-prone 2012 Alaska drilling season, this time for possible violations of international marine environmental rules, a U.S. Coast Guard official said on Wednesday.
The Coast Guard has asked federal prosecutors to consider taking action on possible violations of the International Convention for the Prevention of Pollution from Ships (MARPOL) committed in the operations of Shell's Kulluk drillship, said Rear Admiral Thomas Ostebo, head of the Coast Guard in Alaska.
Ten years after the United States invaded and occupied Iraq, the country’s oil industry is poised to boom and make the troubled nation the No.2 oil exporter in the world. But the nation that’s moving to take advantage of Iraq’s riches isn’t the United States. It’s China.
America, with its own homegrown energy bonanza, isn’t going after the petroleum that lies beneath Iraq’s sands nearly as aggressively as is China, a country hungry to fuel its rise as an economic power.
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