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ExxonMobil Sets Drilling Records

ExxonMobil Sets Drilling Records

ExxonMobil has completed the world's longest extended-reach well drilled from an existing offshore fixed platform drilling rig, increasing the company's ability to produce more domestic oil supplies from existing facilities at the Santa Ynez unit, offshore southern California.

Medvedev Threatens Russia Withdrawal From Kyoto Deal - Report

Medvedev Threatens Russia Withdrawal From Kyoto Deal - Report

Russian President Dmitry Medvedev said Friday the country will pull out of the Kyoto environmental agreement if a compromise can't be found concerning the reduction of carbon emissions, the RIA Novosti news agency reports.

Russia, Ukraine Approve New Gas Agreements

Russia, Ukraine Approve New Gas Agreements

Russia and Ukraine approved on Friday new gas agreements reached by energy giant Gazprom and its Ukrainian partners, the Russian government press service said. It said the agreements are based on Ukrainian President Viktor Yanukovych's proposals and establish a new pricing structure.

Turkey Believes Iran Nuclear Deal Still Possible

Turkey Believes Iran Nuclear Deal Still Possible

Turkey's foreign minister said on Wednesday he believed it was still possible to revive a deal, widely regarded as dead, under which Iran would send much of its low enriched uranium, or LEU, for processing abroad.

UN:China Must Spend $86B/Yr To Meet Greenhouse Gas Targets

UN:China Must Spend $86B/Yr To Meet Greenhouse Gas Targets

Facing rising energy needs from a wave of unprecedented urbanization, China will have to spend up to $86 billion a year to reach ambitious greenhouse gas-reduction targets, a United Nations report says, one of the first estimates of how much China's global warming targets will cost.

France, Italy Press EU Commission For Climate Border Tax

France, Italy Press EU Commission For Climate Border Tax

The European Union must come up with new tools to advance international climate talks, and must consider introducing a border tax system linked to the carbon dioxide content of products imported into the bloc, according to France's President Nicolas Sarkozy and Italy's Prime Minister Silvio Berlusconi.

Russia Shuts Last Weapons-Grade Plutonium Reactor

Russia Shuts Last Weapons-Grade Plutonium Reactor

Russia shut its last weapons- grade plutonium reactor on Thursday, local news agencies reported, under a deal with the United States to cut the risk of nuclear proliferation from Soviet era bomb-making plants.

Cnooc, Sinochem Said to Bid on Statoil Brazil Field

Cnooc, Sinochem Said to Bid on Statoil Brazil Field

Cnooc Ltd., China’s biggest offshore energy explorer, and Sinochem Group may separately bid as much as $3 billion for a 40 percent stake in a Brazilian oil field owned by Norway’s Statoil ASA, two people with knowledge of the companies’ plans said.

Iraq To Get $850M Signature Bonuses From 7 Oil Deals

Iraq To Get $850M Signature Bonuses From 7 Oil Deals

International oil companies will pay Iraq this year $850 million as signature bonuses for signing deals to develop seven oil fields awarded during the country's second licensing auction held in December last year, the Iraqi cabinet said in a statement Wednesday.

California Scuffle Over Renewable-Energy Goal

California Scuffle Over Renewable-Energy Goal

Already straining under high unemployment and large budget deficits, California could face a new crisis of spiraling costs for renewable energy unless officials loosen new rules, the state's three large utilities say.