Analysis: After a rough season, Brazil hopes bidding for its massive offshore oil reserves will right the ship. Now Brazilian oil workers are striking and energy majors like Exxon-Mobil, Chevron and BP aren't placing their bids.
Brazilian President Dilma Rousseff poses with workers of state-run oil giant Petrobras. (Vanderlei Almeida/AFP/Getty Images)
HOUSTON — Brazil has had a lousy year. Many hope Monday's sale of its vast Libra offshore oil reserves will turn the tide. But only about a quarter of the expected firms will actually turn out for the bidding round.
BEIJING — To woo clients, Will Latta, 43, used to spend three nights a week with coal barons from China’s inner provinces, drinking "baijiu" — a local grain liquor that tastes a lot like motor oil. “Eventually, I had to draw a line,” he said. “It was getting bad — hallucinations and things.” But it was all in the service of the long, patient game of building a company in an industry where China is truly driving global innovation: clean energy.
LIMA — Angered by alleged US spying on Brazil, President Dilma Rousseff Tuesday postponed her state visit to the White House planned for next month. This marks another setback on the international stage for US President Barack Obama.
A senior official of Tokyo Electric Power Co. admitted during a meeting with opposition lawmakers on Friday that the massive radioactive water buildup at the crippled Fukushima Daiichi nuclear power plant is "not under control."
The government quickly rushed to play down the remark by Kazuhiko Yamashita, who holds TEPCO's executive-level title of fellow, as that view directly contradicts Prime Minister Shinzo Abe's statement last week to the International Olympic Committee in pushing Tokyo's bid to host the 2020 Summer Olympics.
ROME, Italy – The food the world wastes accounts for more greenhouse gas emissions than any country except for China and the United States, the United Nations said in a report on Wednesday.
Every year about a third of all food for human consumption, around 1.3 billion tons, is wasted, along with all the energy, water and chemicals needed to produce it and dispose of it.
Almost 30 percent of the world's farmland, and a volume of water equivalent to the annual discharge of the River Volga, are in effect being used in vain.
OSLO — There are few more scenic places in the world to cast a ballot than the Lofoten Islands. But potential riches offshore have turned this tranquil archipelago into a battleground for the future of Norway's oil wealth.