By Ben Geman - 11/21/11 11:29 AM EST
Chevron is taking “full responsibility” for an oil spill off Brazil’s coast, an accident Reuters calls a “major test for one of the world's fastest-growing oil frontiers.”
The Wall Street Journal reports that the oil giant is pledging to investigate how it made a critical miscalculation when drilling the deep-sea well.
Bloomberg reports that the head of Saudi Arabia’s state oil company says renewable energy is “faltering” globally and warns not to "turn our backs on renewables."
Platts reports that oil giant Saudi Aramco CEO Khalid al-Falih said the company is focusing on development of natural-gas reserves and refining.