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Russia oil firm Rosneft nears deal with BP
Stephen Beard Oct 19, 2012
The state-controlled Russian oil firm Rosneft is reported ready to enter a multi-billion dollar joint venture with the British oil giant BP to create the world’s biggest listed oil company.
Report: Iraq could double its oil production
Eve Troeh Oct 10, 2012
Higher production could make Iraq the world's second-largest oil exporter. Most of the added oil won't go to the U.S., but to countries helping Iraq rebuild its oil facilities and basic infrastructure.
What California can do about record gas prices
Eve Troeh Oct 8, 2012
Not much short of encouraging an oil company to build new refineries. Tough state regulation of auto pollution cuts off California from sources of gas outside the state.
California gas prices hit record high
Jeff Horwich Oct 8, 2012
In California this morning drivers are paying an average $4.66 for a gallon of gas. Governor Jerry Brown has ordered that winter will come early this year -- in the form of so-called "winter blend" gasoline.
California, all of a sudden, hits $5 gas
Adriene Hill Oct 5, 2012
California discovers how close it lives to a tipping point when refinery problems combine to create a sudden gas shortage and a spike in prices.
Is the U.S. at risk of another OPEC oil embargo?
Scott Tong Oct 3, 2012
The OPEC oil embargo nearly 40 years was a shock to the U.S. and its economy. But the long-term effects proved a shock to Saudi Arabia and other OPEC members, who learned that oil and politics don't mix.
Libyan oil production almost back to normal
David Gura Oct 1, 2012
Civi war combatants mindful of the importance of oil on the economy, left infrastructure largely undamaged.
Energy independence? For the U.S., it's a pipe dream
Scott Tong Oct 2, 2012
The U.S. can become less dependent on foreign oil, but it's still a part of the global oil market --and that means no insulation from oil price shocks.
U.S. petroleum reserve is a versatile weapon
Eve Troeh Oct 1, 2012
The Strategic Petroleum Reserve was established to protect the economy from an embargo. But just the threat of releasing oil into the market can rein in speculation in oil futures, too.
Oil sanctions cause pain in Iran, but also at gas pumps
Scott Tong Sep 24, 2012
As world leaders gather to discuss the oil santions against Iran, that country is selling only half the volume of a year ago. But its reduced production is raising oil prices around the world.
