Four Nigerian farmers and their communities will receive 16 million dollars in compensation from Shell for allegedly polluting the environment through oil pipeline leaks. The oil company and Friends of the Earth, a campaign group, reached an agreement on the amount. A joint statement states that it is being given without any admission of responsibility. […]
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The OPEC alliance is planning to make deep cuts in the oil production, which it ships to the global economy that will decrease supply in an already tight market, despite of the pressure from the United States and several other countries across the globe. Energy minister from the OPEC cartel, with leading member Saudi Arabia, […]
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Joe Biden, president of the United States has now orders a large release of the oil from the reserves of the United States in an effort for bringing down the high costs of fuel, and the release of around 180 million barrels of oil for more than six months has been largest since the reserve […]
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Jennifer Granholm, energy secretary of the United States said, the United States emergency oil reserve has been a tool, which is available to the US government for addressing the unusual short-term mismatches between the demand and supply of oil as the government of the United States is looking to move to the less volatile sources […]
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