BP has entered into its second oil sands project in the space of a week, this time with CanadaÔÇÖs Value Creation Inc., it has been revealed.

BP has entered into its second oil sands project in the space of a week, this time with CanadaÔÇÖs Value Creation Inc., it has been revealed.

Canada-based energy and services company Emera Inc. has announced it is to buy the US company Maine & Maritimes Corp.

London-based Vedanta Resources is kick starting the break-up of its business by spinning off its £13 billion aluminium division.

Canada's National Energy Board (NEB) has approved an application from TransCanada Corporation to construct and operate the Keystone XL Pipeline Project, an expansion of its Keystone pipeline to the US Gulf Coast.  The $1.7 billion project will transport crude oil from Hardisty, Alberta to the Canada/US border at Monchy, Saskatchewan. The NEB said Keystone will be the first pipeline to directly connect Canadian crude oil to the largest refining market in North America.  The Keystone pipeline currently stretches from Hardisty to refining hubs in Illinois.

The UKÔÇÖs Department of Transport has unveiled plans for a ┬ú30 billion railway network designed to slash journey times between the capital and cities in the north.

Oil giant BP has announced it will pay Oklahoma firm Devon Energy $7 billion for its assets in a deal that will allow the UK firm to begin exploring off the coast of Brazil.

The UK-based oil giant BP has announced a deal that will allow it to begin exploring off the coast of Brazil.

Californian oil major Chevron has announced plans to streamline its operations worldwide, with an emphasis on its downstream operations in Europe, the Caribbean and Central America.  A decline in fuel demand caused by the global economic slowdown has reduced profits as oil prices have remained high.

The US oil major Chevron has said it is seeking a buyer for its UK refinery in Pembrokeshire. The plant employs around 1,400 people and processes 220,000 barrels of crude oil per day.