China’s Anti-Graft Investigator Keeps Oil Giants in Its Sights

China’s anti-corruption investigators continued to zero in on the nation’s oil giants, calling on two of its biggest state-owned companies to review their overseas investments and accusing them of nepotism.

As oil slides, Singapore oilfield service firms struggle to refinance debt

(Reuters) - Two Singapore oilfield service firms are finding it tough to refinance debt maturing later this year as the slump in crude prices has made investors and lenders hesitant, banking sources said.

Steven Chu warns UK its nuclear plans risk becoming financial drain

A leading energy expert has warned that although the British government is right to proceed with new nuclear plants they risk becoming a “financial drain” unless they can be built on time and on budget.

Fracking Foes Force Some Oil Drillers to Tread Lightly

A fight over fracking is looming in Texas. Another stand-off is shaping up in Colorado. Yet drillers’ reactions couldn’t be more different. In Texas, drillers are doing their noisy in-your-face fracking as usual.

Shell and Nigeria have failed on oil pollution clean-up, Amnesty says

Little action has been taken to clean up pollution caused by oil production in Nigeria’s Niger Delta region, either by the government or Shell Oil, Amnesty International and other groups charged Monday.

Angola Upgrades Port as It Aims to Be Africa’s Busiest Hub

Angola’s main port installed new cranes and provided more training to reduce its cargo unloading time by 80 percent as the government reviews a plan to build Africa’s biggest shipping terminal.

Spain's oil deposits and fracking sites trigger energy gold rush

Spain is already the world's largest olive oil producer but now it's looking to a very different kind of oil to pull it out of economic decline: petroleum.

Morgan Stanley sells oil trading business to Russia's Rosneft

LONDON/MOSCOW (Reuters) - Morgan Stanley has sold the majority of its global physical oil trading operations to Russian state-run oil major Rosneft , becoming the latest Wall Street firm to dispose of a major part of its commodity business.

Shell Nigeria declares force majeure on oil export

LAGOS: Shell Nigeria declared ``force majeure'' Friday on exports of Bonny Light Crude oil, blaming increasing oil thefts that analysts say likely will lead companies to sell off more investments in Nigeria's declining onshore oil industry.

China in $5 bn drive to develop disputed East China Sea gas

BEIJING: Chinese state-run oil companies hope to develop seven new gas fields in the East China Sea, possibly siphoning gas from the seabed beneath waters claimed by Japan, a move that could further inflame tensions with Tokyo over the disputed area.

EU raids oil majors in probe over possible price fixing

BRUSSELS: The European Commission said Tuesday it carried out surprise inspections at several major oil companies over possible price fixing in breach of EU anti-trust rules.

Oil drilling technology leaps, clean energy lags

NEW YORK (AP) — Technology created an energy revolution over the past decade — just not the one we expected. By now, cars were supposed to be running on fuel made from plant waste or algae — or powered by hydrogen or cheap batteries that burned nothing at all.

Uganda says agrees on 30,000 bpd oil refinery with Total, CNOOC

KAMPALA (Reuters) - Uganda, France's Total and China's CNOOC have agreed to build a small oil refinery in the east African country, Uganda's government said, in a step towards resolving disagreements that have delayed commercial oil production.

ConocoPhillips delays 2014 Arctic marine drilling

ANCHORAGE, Alaska (AP) -- ConocoPhillips Alaska announced Wednesday it will not drill in Arctic waters off Alaska's northwest shore in 2014.

Shell dividend pleases shareholders but profits disappoint City

Shell has rewarded investors with a 4.7% increase in dividend payments covering the last quarter of 2012 after making $7.3bn worth of profits – a major increase on the same period of 2011.

OFT says UK petrol market is working well

Motoring organisations have expressed disappointment after a study found drivers are paying fair fuel prices.

BP Returns to Profitability and Raises Dividend

LONDON — BP returned to profitability with a better-than-expected third-quarter profit, prompting the oil giant to raise its dividend.

Overcoming challenges of Arctic oil drilling

Energy giants are investigating the potential riches in the Arctic region, but one has already broken ranks.

Shell gets OK for Arctic drilling prep

NEW YORK (CNNMoney) -- The Obama administration has granted Royal Dutch Shell permission to begin drilling preparations off the coast of Alaska, bringing the region a step closer to offshore oil production.

Protecting porpoises' hearing adds millions to wind farm projects

Porpoises are adding millions of euros to costs for wind-turbine developers in waters off Germany, delaying the nation’s shift from nuclear energy.