Oklahoma City-based Bronco Drilling Co. is making its first international foray, and the destination is Moammar Gadhafi’s Libya.
The deal, announced this week, is another sign that U.S. investment is broadening in a nation once considered a pariah by the United States.
Multinationals rushed into oil-rich Libya when President Bush lifted restrictions that had barred […]

Asia Energy proposed to extract about 10-15 million tons of coal from Phulbari coal field adopting open-pit mining from final depth of 250 to 300 meters by removing 4400 million tons of overburden (rock, sand, mud, soil) covering an area of about 5.2 sqkm throughout the life of the mine i.e. 36 to 38 years. […]

The Chinese Petrochemical Corporation (Sinopec) -China’s second largest oil firm- is holding talks with Venezuela to start operations in Orinoco Oil Belt, official newspaper “Shanghai Daily” reported on Friday.
Further, Sinopec is taking control of a 32 percent stake in exploration project Posa, in Golfo de Paria Este, under a new joint venture where Venezuelan state […]

“There is a natural gas exploration deal worth $900 million (454 million pounds),” Shokri Ghanem, the chairman of state owned National Oil Corporation (NOC), told reporters.
He noted that the agreement had been negotiated and had not been the result of a bidding round.
The move is BP’s most significant Libya initiative since its assets there […]

Albrecht and Heun and its subsidiary Future Mining Inc.’s controversial Indian Trail Road mining operation application again brought a packed house to a Middle Township municipal board’s meeting last week.
Individuals have expressed concerns regarding the project including dust, traffic, environmental contamination, watershed contamination, loss of forested areas and decrease in property values.

A senior U.S. diplomat says the international community needs to bring more pressure on Iran to end, what he describes as, its efforts to develop nuclear weapons. Jim Teeple has details from our Jerusalem bureau.
Speaking at an international conference on security issues in the Israeli city of Herziliya, Undersecretary of State for Political Affairs Nicolas […]

Russia and Belarus have agreed on a new price structure for oil tariffs after Russia halted its vast oil supplies to Europe earlier this week.
“For 2007, an export tariff of $53 will be paid for every tonne of the 20 million tonnes of crude oil delivered to Belarus,” Russian Prime Minister Mikhail Fradkov said after […]

In May 15 this year, the United States announced its long-anticipated decision to restore full diplomatic relations with Libya. This decision will pave the way for Libya’s removal from the US list of states sponsoring terrorism and harbouring terrorists.
In addition, the country’s name will be removed from the annual certificate of countries not cooperating fully […]