NEW YORK - Oil prices surged more than $3 Friday, shattering a previous record in a spike near $128 a barrel, as prices at the pump pushed to new highs of their own. The gains come 10 days before the

The airline industry has no future. The same is true for airfreight. No air carrier has a viable plan to make a profit with oil at current prices—much less in years to come as the petroleum available to world markets

WASHINGTON -- Mexican Energy Secretary Georgina Kessel's warning to the Mexican Congress last week sounded ominous: If legislators did not approve reforms within the oil sector, the country would suffer a "severe energy crisis" within a decade. That's probably an

In recent years, the Russian state has renationalized large chunks of the energy sector, so it would surprise no one if TNK-BP were next in line. Yet the idea that the pressure on TNK-BP stems solely from the government is

Canada's trade minister, itching for a free trade pact with a wary European Union, said on Thursday the EU should want to deepen its trade relations with Canada for its oil. "Canada's an energy power," Trade Minister David Emerson told

Saudi Aramco and ConocoPhillips said on Friday that they would proceed with plans to build a 400,000 barrel-per-day refinery in Yanbu, Saudi Arabia, even as costs for new refining facilities soar. The plant is one of four that the world's

Venezuela's President Hugo Chavez said Thursday that his government wants to continue its oil business relationship with the U.S., despite the difficult relationship between both countries. "We want to continue selling oil to the U.S. and we want to continue

Toyota announced today that worldwide cumulative sales of the Toyota Prius the world’s first mass-produced petrol/electric hybrid vehicle have passed the 1 million mark, with approximately 1,028,000 units sold as of the end of April this year*1. Prius sales are

Obesity contributes to global warming, too. Obese and overweight people require more fuel to transport them and the food they eat, and the problem will worsen as the population literally swells in size, a team at the London School of

Bloomberg) -- Saudi Arabia, the world's largest oil exporter, will increase crude oil production next month in response to customer requests. The country will raise output by 300,000 barrels a day to 9.45 million barrels a day in June, Saudi

On May 4, the executive board of OJSC "Gazprom" approved "The guidelines for improvement of procurement system of OJSC "Gazprom" and agreed to purchase tubular goods at higher prices. Beginning June, OJSC "Gazprom" will buy domestic large diameter pipes at

The conference "Oil and Gas Equipment Standardization" (STANDARTNEFTEGAZ-2008) will open in Moscow on May 20. The conference will address the need for modernization and harmonization of oil and gas industry standards. Additionally, the conference will look at oil and gas

CHARLOTTE, N.C. — A review of state records shows Duke Energy is shutting off service to more customers this year because they can't pay their bills. The Charlotte Observer reviewed records on Duke, the largest utility in the Carolinas....

Oil prices have risen above $127 a barrel for the first time. Light, sweet crude for June delivery rose as much as $3.31 to $127.43 a barrel in electronic trading Friday on the New York Mercantile Exchange by afternoon in

MINING giant Rio Tinto and oil producer BP have dropped plans to build a coal-fired power generation plant with carbon capture and storage technology in Kwinana, Western Australia. Hydrogen Energy, a joint venture company between the two companies, has spent

Scientists, managers oppose plan that may allow for new power plants The Bush administration is on the verge of implementing new air quality rules that will make it easier to build power plants near national parks and wilderness areas, according

Between a quarter and a third of the world's wildlife has been lost since 1970, according to data compiled by the Zoological Society of London. Populations of land-based species fell by 25%, marine by 28% and freshwater by 29%, it

RIYADH The United States said on Friday it had agreed to cooperate to protect Saudi Arabia's oil and will help the world's top crude exporter to develop peaceful nuclear energy. The White House announced the agreements as President George W.

Studies cite compounds in fertilizers, fossil fuels with cascading effects WASHINGTON - While carbon dioxide has been getting lots of publicity in climate change, reactive forms of nitrogen are also building up in the environment, scientists warn in two new