Chevron to pay $155 million for Brazil oil spill

US oil giant Chevron has agreed to pay 310 million reales ($155 million) to Brazil for an oil spill last year that fouled beaches in Rio de Janeiro, officials said Saturday.

Using methane rather than flaring it

Chemists at ETH Zurich and the Paul Scherrer Institute have found a new, direct way to convert gaseous methane into liquid methanol. This offers industry the interesting prospect of using the gas, rather than simply burning ...

China orders US oil giant to halt rigs after spill

China said Wednesday it had ordered US oil giant ConocoPhillips to immediately stop operations at several rigs in an area off the nation's eastern coast polluted by a huge slick.

Enhanced oil recovery research lab targets stranded reserves

Tens of billions of barrels of oil remain stranded in aging fields in Wyoming's Big Horn, Wind River and Powder River basins, according to David Mohrbacher, director of the University of Wyoming's Enhanced Oil Recovery Institute ...

Oil boom possible but time is running out

Oil recovery using carbon dioxide could lead to a North Sea oil bonanza worth £150 billion ($240 billion) – but only if the current infrastructure is enhanced now, according to a new study published today by a world-leading ...

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