The Andes
Ecuador reaches settlement with Oxy Petroleum
Ecuador will pay $1 billion to US oil giant Occidental following a settlement in a case over cancellation of a massive contract in the Amazon basin.
Tag: petro-oligarchy
Planet Watch
Obama and the KXL-TPP contradiction
Obama nixed the Keystone XL pipeline a day after announcing he will sign the Trans-Pacific Partnership—which includes mechanisms for challenging the KXL cancellation.
Planet Watch
Retreat on Arctic drilling —push to open ANWR
The Interior Department announced the cancellation of two pending Arctic offshore lease sales—as Alaska's governor makes a new push to open the ANWR to oil companies.
Mexico
US eases oil export ban
The US Department of Commerce agreed to allow limited crude oil trading with Mexico, easing a ban on crude exports that has been in place for 40 years.
East Asia
China allows first pollution suit under new law
A court in China ruled that a lawsuit against ConocoPhillips China and China National Offshore Oil for a 2011 oil spill can proceed under a new law allowing NGOs to directly sue polluters.
Planet Watch
Ice Age fears: don’t believe the hype
Russia Today trumpets specious claims of a new Little Ice Age—convenient propaganda for Putin to go on exploiting Arctic oil without worrying about global warming.
Mexico
Mexico sells offshore oil blocs, but majors are shy
For the first time in nearly 80 years, Mexico opened its oil industry to foreign investors, offering 14 offshore exploration blocs—but only two sold, and not to industry majors.
Planet Watch
Obama’s new offshore plan: don’t believe the hype
Obama's five-year plan for offshore drilling opens up the Southeast coast and grandfathers Arctic leases—but the industry is still griping because it would keep ANWR off limits.
Planet Watch
Behind oil slump: shale boom or geopolitics?
Experts tell us the North American shale oil boom is responsible for low prices despite Middle East unrest. But the price slump serves Western aims of weakening Russia and Iran.
The Andes
Colombia’s Ecopetrol to process fracking licenses
The president of Colombia's Ecopetrol, Javier Genaro Gutiérrez, announced that the state oil company will start processing licenses for the use of fracking technology.
Iraq
Low oil price: calm before the storm?
The new Iraq crisis sparked a brief oil shock, but prices have since stabilized. We are told this is due to the North American energy boom—but are prices set to surge again?
The Andes
Peru leaks: oil company rewrote environmental law
Leaked e-mails reveal that Austrailia's Karoon Energy provided "technical support" in the proposed reform of Peru's hydrocarbon law that would loosen oversight of oil exploration.