Channel 4 News
| Apr 7, 2013
It is a fight of David and Goliath proportions. A small indigenous community deep in the Ecuadorian rainforest is taking on one of South America's largest oil companies. Can they win support in a country desperate to pull itself out of economic woes?
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CCTV News
| Feb 26, 2013
China's state-owned oil entity CNOOC Ltd completed a $15.1 billion takeover on Monday of Canadian oil and gas company Nexen, the largest foreign takeover in China's history. State broadcaster CCTV reports on the offshore drilling sites that now be...
Al Jazeera English
| Feb 17, 2013
Thousands of protesters have gathered in Washington DC to demand government action on climate change. One of the major items on environmentalists' agenda is the controversial Keystone Pipeline, which would carry millions of barrels of crude oil fr...
Euronews
| Jan 30, 2013
A Dutch court has ordered Shell to pay damages to a Nigerian farmer whose livelihood was ruined by oil spilled from one of its pipelines. Three similar claims were dismissed in the closely watched case, seen as a test for legal action against mult...
Associated Press
| Jan 2, 2013
A runaway Shell drilling rig ran aground on a remote Alaskan island during a fierce storm. No oil has been detected in the water, but critics say the accident shows the dangers of allowing offshore drilling in the Arctic to go ahead.
Al Jazeera English
| Nov 28, 2012
BP has been temporarily banned from new federal contracts by the Environmental Protection Agency, which cited the oil giant's "lack of business integrity." BP recently paid $4.5 billion to settle criminal charges from the Deepwater Horizon spill, ...
Al Jazeera English
| Nov 26, 2012
More than 100,000 demonstrators in Rio took to the streets to protest a proposed new law which would share more oil profits with regions in Brazil that produce no oil. Residents of Rio de Janeiro state, which produces 80 percent of the nation's oi...
Al Jazeera English
| Nov 16, 2012
It has been two-and-a-half years since the Deepwater Horizon drilling rig exploded, killing 11 workers and spilling nearly 5 billion barrels of oil into the Gulf of Mexico. Now, oil giant BP has reached a settlement with the US government. The com...
Channel 4 News
| Nov 15, 2012
BP will pay the biggest ever criminal fine in US history as part of a $4.5bn settlement. The oil giant has pleaded guilty to 14 criminal charges relating to the Deepwater Horizon disaster, which killed 11 workers.
— Apr 27 at 03:55 pm
...more then before in less then a year and the value of Iranian currency dropped more then 46% in less then four months and few thousand people lo...
— Jul 17, 2012 at 03:28 am
...of Iraq and the volume could rise to 100-200 tankers per day. This has angered the Iraqi government of Prime Minister Nouri al-Maliki who called...
— Jan 15 at 08:58 am
...2012, the United States and the European Union (EU) imposed new sanctions on the financial and energy sectors of Iran on the pretext that the co...
Petroleum is a naturally occurring flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. The name Petroleum covers both naturally occurring unprocessed crude oils and petroleum products that are made up of refined crude oil. A fossil fuel, it is formed when large quantities of dead organisms, usually zooplankton and algae, are buried underneath sedimentary rock and undergo intense heat and pressure.
Petroleum is recovered mostly through oil drilling. This comes after the studies of structural geology, sedimentary basin analysis, reservoir characterization. It is refined and separated, most easily by boiling point, into a large number of consumer products, from petrol and kerosene to asphalt and chemical reagents used to make plastics and pharmaceuticals. Petroleum is used in manufacturing a wide variety of materials, and it is estimated that the world consumes about 88 million barrels each day.
(via Freebase)
