Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.
As crude oil prices tried to bounce back from a five-year low, oil companies and OPEC try to adjust to low oil prices. BP earnings kicked off the big oil earnings season and they could have been worse.
Well it may not have really felt like it to the Canadian oil producers but according to the International Energy Agency 2012 report, the price of oil averaged $112.00 a barrel, the highest price in history.
BP Plc reached an estimated $7.8 billion settlement with businesses and individuals damaged in the 2010 Deepwater Horizon oil rig disaster that killed 11 people, removing one of three major litigation fronts facing the company