To date, the 2010 Deepwater Horizon oil spill is the largest marine oil spill in U.S. history. The incident claimed 11 lives and released almost 210 million gallons of crude oil into the Gulf of Mexico. More than a decade and hundreds of millions of dollars later, researchers are still trying to find out where all this oil ended up through a concept called environmental fate. Some of the most commonly... 

Saudi Arabia may go bankrupt within the next five years if the government maintains its current spending habits, the International Monetary Fund said in a report Wednesday. Saudi authorities are already planning spending cuts as the world’s biggest oil exporter seeks to cut its budget deficit created by the drop in crude prices. Saudi officials have repeatedly said that the kingdom’s economy... 

Production of crude oil in western Canada emits more harmful carcinogens into the environment than official estimates let on, according to a new study. The Keystone XL pipeline would, if approved, move tar sands oil from Alberta through the US to Texas. A new study by the University of Toronto-Scarborough published Monday in the Proceedings of the National Academy of Sciences reported that Canadian... 

A firefighter walks away from the burning pipeline ignited by an explosion on July 21, 2013 near Tonanitla, Mexico. Seven people have been injured in central Mexico in an oil pipeline explosion, which was ignited by an attempted theft of crude oil. Mexican authorities say five police officers and two firefighters were hurt early Sunday when they responded to the explosion and fire near the municipality... 

Thousands of gallons of oil have spilled from a pipeline in Texas, the third accident of its kind in only a week. Shell Pipeline, a unit of Royal Dutch Shell Plc, shut down their West Columbia, Texas, pipeline last Friday after electronic calculations conducted by the US National Response Center showed that upwards of 700 barrels had been lost, amounting to almost 30,000 gallons of crude oil. By Monday,... 

Residents of Mayflower, Arkansas are shocked, frustrated and discouraged after an ExxonMobil oil pipeline – which many were unaware existed – burst, devastating the small town by flooding its streets with thousands of barrels of Canadian crude. ExxonMobil is cleaning up the town after an oil pipeline spilled thousands of oil all over its streets. The company’s Pegasus pipeline –... 

An Australian company claims it has found an untapped shale oil field with estimated reserves that could potentially put the country next to remarkably oil-rich Saudi Arabia. Still, extracting the discovered treasure poses a huge technical challenge. ­Brisbane-based company Linc Energy has presented two estimates by respected independent consultants claiming that drilling and seismic exploration... 

The Greek-owned oil tanker MT SMYRNI was seized on May 10, 2012, in the Arabian Sea while carrying 135,000 metric tons of crude. Somali pirates have hijacked a Greek-owned oil tanker with 17 crew members onboard off the coast of Oman in the Arabian Sea, Press TV reports. MT SMYRNI, carrying a cargo of 135,000 metric tons of crude oil, was en route Turkey on Thursday when pirate gangs stormed the vessel,... 

The Indian government has announced that it is working to continue crude oil purchase from Iran, resisting renewed pressure from the United States to halt buying Iranian oil. The announcement was made by Indian Foreign Minister Somanahalli Mallaiah Krishna on Thursday in a written letter to the upper house of Indian parliament, Wall Street Journal reported. “The government is studying the impact... 

Iran’s decision to halt oil exports to some European Union member states has caused serious concern among major European consumers of Iranian crude such as Italy, Press TV reports. Tehran threatened to halt oil shipments to EU states after the bloc reached a decision on January 23 to ban Iranian oil imports for its members. The EU decision came after Washington imposed similar sanctions against... 

New Western sanctions seek to prevent other countries from importing Iran's crude oil. India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil. According to a report published by DEBKAfile news website, unnamed sources have stressed that China is also expected to follow suit. India and China... 

Energy experts believe the new US sanctions on Iran could lead to a major hike in crude oil prices. South Korea has announced that it will buy around 10 percent of its needed crude from Iran in 2012, which will be slightly higher than last year. Seoul’s demand for more Iranian oil follows the approval of a new act by the US Senate for imposing tougher sanctions on Iran’s financial and energy...