Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
The Next New Thing: Coverage Issues from Fracking Claims
May 25 2012 // Every few years it seems that there are predictions a new type of claim that threatens to engulf carriers. In the 1980s and 1990s it was environmental clean up claims and SuperFund, followed shortly by asbestos, the fear...
Officials: 3 Dead in Explosion at Old Arkansas Oil Well
May 23 2012 // Officials say three workers are dead following an explosion at an abandoned oil well near El Dorado in southern Arkansas. Union County Emergency Manager Jerry Thomas says three workers at Long Brothers Oil Company were...
Senate Passes Tougher Iran Sanctions
May 22 2012 // The U.S. Senate unanimously approved on Monday a package of new economic sanctions on Iran’s oil sector just days ahead of a meeting in Baghdad between major world powers and Tehran. The sanctions add to a raft of...
The Next New Thing
May 21 2012 // Coverage Issues from Fracking Claims Every few years there are predictions of a new type of claim that threatens to engulf carriers. In the 1980s and 1990s it was environmental clean up claims and SuperFund, followed...
Vermont Becomes First State in U.S. to Ban Hydraulic Fracturing
May 18 2012 // Gov. Peter Shumlin on Wednesday signed into law the nation’s first ban on a hotly debated natural gas drilling technique that involves blasting chemical-laced water deep into the ground. The Democrat, surrounded at a...
Misuse of BP Oil Spill Funds Prompts Changes by Florida County
May 17 2012 // Amid a criminal investigation into the alleged misuse of funds paid by BP after the 2010 Gulf oil spill, a Panhandle county made big changes this week in the way it oversees spending for promotion of the area’s...
Data Shows Iran Petro-Chemical Exports Plunge Due to EU Insurance Sanctions
May 17 2012 // Iranian petrochemical exports have plunged nearly 90 percent in the last two weeks as most maritime firms, including those in Iran, cannot find insurance to transport the cargo due to EU sanctions, according to traders and...
Refueling by EU Shippers May Violate Iran Sanctions
May 11 2012 // European ship owners could violate impending EU sanctions against Iran without even knowing it every time they set sail, leaving them vulnerable to being blacklisted, the managing director of leading industry group...
UK Seeking Delay to EU’s Iran Ship Insurance Ban
May 9 2012 // The UK is seeking to persuade fellow European Union members to postpone by up to six months a ban on providing insurance for tankers carrying Iranian oil, arguing that it could lead to a damaging spike in oil prices,...
Shrimp Processors Object to BP Oil Spill Settlement
May 7 2012 // Shrimp processors have asked a federal judge to delay preliminary approval of BP Plc’s proposed settlement of economic damage claims from the 2010 Gulf of Mexico oil spill, arguing that it is unfair to parts of the...
BP Proposes Gulf Oil Spill Claims Settlement
May 7 2012 // BP Plc reached settlements on April 18 to resolve billions of dollars of claims from the 2010 Gulf of Mexico oil spill, and asked a U.S. judge for a long delay in any trial over remaining disputes stemming from the...
Oil, Economy Fuel Insurance Hiring in Texas
May 7 2012 // Job Outlook Across the nation, employment levels in insurance agencies and brokerages declined at a faster rate than the overall U.S. employment level since the recession began in 2007. The good news: Some independent...
BP Wins Delay of Gulf Oil Spill Trial
May 4 2012 // A trial to assign blame and damages that could total tens of billions of dollars for the 2010 Gulf of Mexico oil spill has been put off until January, in a setback for the U.S. government, which wanted to try its case this...
Sen. Rubio: 100% of BP Fines Should Go to Gulf States
May 3 2012 // Sen. Marco Rubio, R.-Florida, said he opposes a plan that would give Gulf coast states 80 percent of the fines stemming from the 2010 oil spill because the other 20 percent will be cut up and spent elsewhere, a position...
BP’s $7.8 Billion Gulf Oil Spill Settlement Wins Initial Court OK
May 3 2012 // BP Plc won preliminary court approval of an estimated $7.8 billion settlement to resolve more than 100,000 claims by individuals and businesses stemming from the 2010 Gulf of Mexico oil spill. The accord comprises two...
U.S. Opposes Delay in BP Oil Spill Trial
May 2 2012 // The U.S. government said a trial to assign blame and damages among BP Plc and others over the 2010 Gulf of Mexico oil spill should not be delayed until after a hearing over a $7.8 billion settlement of private party...
Shipping Exec: India’s State Insurers to Provide $50 Million Cover for Iran Oil Buy
May 1 2012 // Indian state-run insurers have agreed to give limited cover to local ships for carrying Iranian oil, helping the energy-hungry country import reduced volumes from sanctions-hit Tehran from July, a Shipping Corp of India...
Shrimp Processors Object to BP Oil Spill Settlement
Apr 24 2012 // Shrimp processors have asked a federal judge to delay preliminary approval of BP Plc’s proposed settlement of economic damage claims from the 2010 Gulf of Mexico oil spill, arguing that it is unfair to parts of the...
New Prosecutor Seeks to Stop Chevron’s Brazil Operations
Apr 20 2012 // A new prosecutor in the case against Chevron Corp and drilling firm Transocean Ltd for an offshore oil spill said Thursday he will seek to suspend the companies’ operations in Brazil, a sign that he may be just as...
Audit of Gulf Oil Spill Claims Fund Finds $64 Million in Underpayments
Apr 20 2012 // An audit of the $20 billion fund for paying victims of the 2010 Gulf of Mexico oil spill found “significant errors” that led to about 7,300 claimants who were underpaid receiving an extra $64 million, the U.S....
