Iran has indicated that its threat to cut oil supplies to European states in order to pre-empt an EU oil embargo may be only a symbolic one

Oil ministry fears retaliation to EU embargo would harm Iran more than Europe

The blog gasdrillinginbalcombe is providing a forum for discussion of Cuadrilla's proposal to see whether exploring in Balcombe for shale oil might be worth while. This post doesn't aim to add to that discussion, which follows a meeting at which a senior Cuadrilla  man was ambushed. Rather, I do recommend signing up for email notifications of comments. There's a lively debate g...

The North Sea oil industry will be at greater risk of "unnecessary and harmful" interference by Europe if Scotland becomes independent, the Government has warned industry leaders.

If Scotland can claim independence — and a 'geographical share' of the oil regardless of population — then why can't Orkney & Shetland? It's the Up Helly Aa festival in Lerwick tonight, where men dress up as vikings and set a longship ablaze. Not a very Scottish festival, but when your nearest city is Bergen how Scottish do you feel? Laurance Reed, a former ...

Executives and diplomats are worried that stopping exports to Athens could be part of Tehran’s retaliation plan

India, the world's fourth largest oil consumer has informed the US and Europe that it will not participate in the embargo on Iranian oil scheduled to start - if it starts - this summer. "It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important cou...

As political and societal will gathers to massively cut carbon emissions over the next years, the value of carbon-intensive oil and gas firms is likely to plummet, potentially leaving taxpayers with the burden for bailing them out, argues Matthew Ulterino. More »

Third, poll after poll shows overwhelming public support for a tax on bankers’ bonuses; a mansion tax on multimillion-pound properties; a windfall levy on the oil and utility companies; a Robin Hood tax on financial transactions; and a one-off wealth tax of 20% on the richest 10% of households (which would raise a whopping £800bn

Iran’s oil minister says his country has a market for oil exports even with cuts to Europe and will face no problem with European embargo