In announcement on Friday, the Department of the Interior cited current market conditions and low industry interest as reasons for the cancellation of two potential Arctic offshore lease sales that were scheduled under the current five-year offshore oil and gas leasing program for 2012-2017. This news comes after Shell’s announcement that it would cease further exploration […]
Worries about China’s faltering economic growth pushed down stock and oil prices around the world on Monday. U.S. stock markets plunged at the open, with the Dow off nearly 5 percent in the first few minutes of trading. After a day of wild swings in stock prices, U.S. indexes were down 3.6 percent or more […]
The Obama Administration has given Royal Shell Oil permission to drill in the Arctic Ocean off Alaska’s northwest coast. This is the first time gas and drilling operations have been given the go-ahead since an exploratory well was drilled in 1991. In a statement released Monday, an administration environmental official pledged to monitor the work […]
WASHINGTON—More details are emerging about the role Turkey has allegedly been playing in assisting Iran to dodge international sanctions involving the trading of gold by an Iranian businessman that Turkey’s president once dubbed a philanthropist. Ministers and associates of the President Recep Tayyip Erdogan’s family are alleged to have been paid off with substantial bribes […]