On April 26, weathered oil is seen near the coast of Louisiana from a leaking pipeline that resulted from an explosion on a Deepwater Horizon offshore oil rig. Crews are working with robot submarines to activate a shutoff device known as a blowout preventer to close off the flow of oil at the sunken rig's well head. Hundreds of miles of marshes, barrier islands, and white sand beaches are threatened by the approaching oil in the Gulf of Mexico.
Oil companies ExxonMobil and BP defy the United States by collaborating with Russia in the energy sector. ExxonMobil and BP have separately signed agreements with Rosneft, Russia's state-owned oil company.
France has banned fracking but is now planning to tap into geothermal energy which requires a process similar to fracking, Alic writes. The oil industry likely sees an opportunity to reverse the fracking ban.
Total SA, a French oil supermajor, will sell its 49 percent stake in a Canadian oil sands project. The sale raises questions about whether the controversial Keystone XL pipeline project is really in the US’ interests, Alic writes.
Executives from oil giant BP recently descended on Tanzania with a request to pursue natural gas investments and try their luck in a venue that has become one of the biggest gems in the region, Alic writes.
With violence on the rise, including a recent attack on a major oil pipeline, it may be only a matter of time before international oil companies lose their stomach for post-war Iraq, Graeber writes.
Oil super majors' performance hasn't been very impressive of late, Alic writes. They might have to get smaller to get bigger if they wish to avoid being rendered irrelevant by the growing ranks of juniors, she adds.
BP and Exxon Mobil have taken opposite sides in the escalating conflict over oil between the Iraqi central government and the Iraqi Kurds, Alic writes.
Stocks rise to highest levels since 2008. Dow gains 490 points for the month of April. S&P is up nearly 38 points.