Italy and Spain depend on Libya for as much as 22 percent and 13 percent of total crude consumption, respectively, a supply not easily replaced on short notice.
The Aug. 18 announcement that Exxon Mobil will not purchase a stake in Ghana's offshore oil fields opens the door for China, which is setting a new standard for how to woo Africa's petrol powers.
Drilling on the relief well has stopped while BP prepares to raise the failed blowout preventer from the sea floor. The effort is not just a safety precaution. The equipment is also evidence that may reveal how the Gulf oil spill happened.
Tropical depression racing toward the Gulf of Mexico Thursday increased pressure on BP and the US government to decide whether to evacuate dozens of ships at the site of the ruptured oil well.
Oil spill BP clean-up continues, but dozens of ships prepared Thursday to evacuate as a tropical rainstorm brewing in the Caribbean brought the deep-sea effort to plug BP's ruptured oil well to a near standstill.
The Obama administration on Monday cited control systems on subsea blowout preventers as one reason for its offshore drilling moratorium. But more than a year before the BP oil spill, authorities learned that balky control systems were the most common cause of blowout preventer failure.
At Tuesday's congressional hearing, legislators criticized four Big Oil companies for being no more prepared for a large spill than BP.
Two people were killed in Oman when Cyclone Phet came ashore on Friday. The storm also halted oil and gas production in the small Persian Gulf nation.
A petroleum engineer charges that BP is doing the minimum to clean up the Gulf oil spill. Here are three things BP should do.
As efforts continue to stop the flow from the BP oil spill, areas used for recreation and fishing are being closed to public access. It's a blow to recreational and commercial fishing businesses.