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By Phil Mercer Sydney 22 May 2008 A couple has embarked on a journey around Australia in a car powered by leftover vegetable oil from fish and chip shops. Rachel and Gerard Mimmo plan to drive 18,000 miles in a specially designed four-wheel drive. Fr
The price of oil has dropped around 20 percent in recent weeks, but remains more than double what it was just a couple of years ago. The high price has given oil companies the incentive to revisit old fields long ago abandoned as unprofitable. As VO
By Mil Arcega Washington, DC 04 May 2006 watch Ripple Effect of Oil report The latest data on consumer spending shows the U.S. economy continues to expand at a healthy pace. But some economists fear o
HOUSTON, Sept. 7 (Xinhua) -- British oil giant BP announced Wednesday it had a major oil discovery in the Gulf of Mexico. An appraisal well the company drilled in a previously untested northern segment of the Mad Dog field in the Gulf of Mexico found
Saudi Arabia is signaling that it is going to boost its supply of oil on its own after failing to convince other oil producers to jointly agree to more production. Several news agencies reported Saturday that the Saudis could increase their oil produ
NEW YORK, July 13 (Xinhua) -- Crude prices rose on Friday as supplies tended to be tight on new Iran sanctions and production problems in North Sea. There was news on Thursday saying that the Obama administration expanded sanctions on Iran, in an eff