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Venezuela to Revoke Contracts of Underperforming Oil Firms

Venezuela’s oil minister urge partner oil firms to boost oil production but warns of contract revocation if desired levels are not achieved.

Oil investment back below $100

Crude oil continues its rapid fall down the charts, as Europe’s election results dash the confidence of investors.

Marathon Petroleum: All set to enhance Detroit refinery

Marathon plans to expand its Detroit oil refinery and actively pursues buy out of Detroit homes in line with its $2.2B project

Liberian oil sector wants more foreign investors

President Sirleaf of Liberia encourages influx of foreign oil investors into the country and cites importance of economic transparency.

Hawaii goes green with bio refinery plant

Hawaii envisions to complete its bio refinery facility by 2013 and eventually tail off reliance on imported fuel.