Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
Iowa-Based Petroleum Marketers Management Insurance Upgraded
Feb 28 2012 // A.M. Best Co. has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to “a-” from “bbb+” of Petroleum Marketers Management Insurance Company (PMMIC) of...
Supreme Court Weighs Foreigners’ Claims Against Corporations
Feb 28 2012 // Corporations and human rights groups are squaring off in a Supreme Court fight over whether foreign victims of war crimes, killings and other atrocities can haul multinational companies into American courts and try to...
BP Oil Spill Trial Delayed for Settlement Talks
Feb 26 2012 // The trial to decide who should pay for the 2010 Gulf of Mexico oil spill has been delayed by a week to allow BP Plc to try to cut a deal with tens of thousands of businesses and individuals affected by the disaster. Less...
Complex Trial Over Blame for Gulf Oil Spill Set to Open
Feb 24 2012 // It could be the ultimate case for passing the buck. A massive trial over the 2010 Gulf of Mexico oil spill heads for a New Orleans federal courtroom on Monday, to determine how much BP Plc and others should cough up for...
Top Japan Insurer to Cut Coverage for Ships in Iran Under Sanctions
Feb 24 2012 // Japan’s main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new European Union sanctions, officials said on Friday. Starting in July, European...
India Still Insuring Exports to Iran
Feb 24 2012 // India’ export guarantee agency has not stopped giving insurance cover to shipments to Iran and has only tightened criteria as part of a more cautious approach, official sources said on Friday, as western sanctions...
TGA Insurance Managers Adds Gallien in Oil & Gas Unit
Feb 23 2012 // TGA Insurance Managers Inc., a subsidiary of Texas-based Hallmark Financial Services Inc., has hired Michael Gallien as product manager for its oil and gas program. Prior to joining TGA, Gallien worked at Chartis from 2009...
Judge: BP, Anadarko, Transocean May Be Liable for Oil Pollution Claims
Feb 23 2012 // BP Plc and Anadarko Petroleum Corp. are liable and Transocean Ltd. may be liable for civil damages under federal pollution laws over the catastrophic 2010 Gulf of Mexico oil spill, a U.S. judge ruled. Wednesday’s...
Reuters: Dubai Finance Centre to Allow Transactions in Chinese Yuan
Feb 23 2012 // The Dubai International Financial Centre (DIFC), the United Arab Emirates’ financial hub, expects to permit transactions in Chinese yuan from this year, industry sources told Reuters on Thursday. The change would...
Mitsui Unit to Pay $90 Million Over Gulf Oil Spill
Feb 21 2012 // Mitsui & Co. Ltd.’s MOEX Offshore agreed with the U.S. Justice Department to pay at least $90 million to settle some of its liability in the Deepwater Horizon oil spill, the first government settlement involving...
BP Wins Ruling Keeping Prior Accidents Out of Gulf Spill Trial
Feb 20 2012 // BP Plc won a court order to keep references to some previous accidents out of the trial to assess blame for the 2010 Gulf of Mexico oil spill, the oil company’s second victory in as many days to bar potentially...
BP Keeps Prior Accidents Out of Gulf Oil Spill Trial
Feb 20 2012 // BP Plc won a court order to keep references to some previous accidents out of its trial to assess blame for the 2010 Gulf of Mexico oil spill. It was the oil company’s second victory barring potentially damaging...
Ohio Petroleum Producers Push Back Against Proposed Regulations
Feb 14 2012 // Ohio petroleum producers are pushing back against a call by the state attorney general to increase environmental penalties and chemical reporting requirements on the drilling industry. Republican Attorney General Mike...
BP Wins Dismissal of Part of Investor Lawsuit Over Gulf Oil Spill
Feb 13 2012 // A U.S. federal judge dismissed a large part of a nationwide lawsuit accusing BP Plc and top executives of fraud for misleading shareholders before and after the 2010 Gulf of Mexico oil spill about the oil company’s...
Obama Budget Seeks Higher Taxes on Big Business
Feb 13 2012 // President Barack Obama’s 2013 budget proposal, released on Monday, calls for raising hundreds of billions of dollars from U.S.-based global companies, while ending cherished deductions and tax breaks for oil...
BP Wins Ruling Keeping Prior Accidents Out of Gulf Spill Trial
Feb 9 2012 // BP Plc won a court order to keep references to some previous accidents out of this month’s trial to assess blame for the 2010 Gulf of Mexico oil spill, the oil company’s second victory in as many days to bar...
BP Preparing ‘Vigorously’ As Start of Gulf Oil Spill Lawsuits Nears
Feb 7 2012 // BP said it was preparing “vigorously” for lawsuits related to its Gulf of Mexico oil spill, which are due to start later this month, as it unveiled a rise in fourth-quarter earnings boosted by higher oil prices...
BP Fails to Shift Gulf Oil Spill Costs to Transocean
Feb 6 2012 // Oil giant BP has lost its attempt to shift over $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up...
Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study
Feb 6 2012 // The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1 percent increase in U.S. tort costs in 2010, according to a new report. The 2011...
BP Fails to Shift $15 Billion of Gulf Oil Spill Costs to Transocean
Feb 6 2012 // Oil giant BP has lost its attempt to shift more than $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion cleanup...
