How BP got into another fine mess

The immediate cause of BP’s latest Russian crisis is the ruling last month of an arbitration panel in Switzerland. But its roots spread all the way to the Gulf of Mexico, and as far back as the company’s last but one chief executive. And it all reflects the company’s floundering attempts to secure production growth in a world of dwindling oil resources. (more…)...
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Oil price set to double if production is cut off

First published in the The Independent on Sunday, 27 February 2011. Oil prices surged to a thirty-month high this week as the turmoil in Libya cut supplies by over 1 million barrels per day, raising the chances of a global supply shock that could push the economy back into recession. Brent crude reached almost $120 per barrel, its highest level since August 2008, as international oil companies pulled out and foreign workers fled the country. (more…)...
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