Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
Senate Bill on Iran Sanctions Targets Banks, Subsidiaries, Insurers
Feb 3 2012 // Banking transactions with Iran and financing for its oil shipments could come under tougher scrutiny after a bipartisan sanctions bill easily passed a key U.S. Senate Committee on Thursday. The Senate Banking Committee...
BP Emails Reveal Company Veiled Spill Rate
Feb 2 2012 // On the day the Deepwater Horizon sank, BP officials warned in an internal memo that if the well was not protected by the blow-out preventer at the drill site, crude oil could burst into the Gulf of Mexico at a rate of 3.4...
Halliburton Wins Ruling vs. BP Over Some Gulf Oil Spill Claims
Jan 31 2012 // A federal judge on Tuesday said Halliburton Co. is not liable for some pollution claims arising from the 2010 Gulf of Mexico oil spill, setting back BP Plc’s effort to hold other companies responsible for part of the...
Florida Lawmaker Warns on Damages If Cuba Oil Drilling Spills
Jan 30 2012 // Since the United States couldn’t stop Repsol from drilling for oil off Cuba’s coast, it should make the Spanish oil giant pay dearly for damages from any spill that threatens neighboring Florida, a...
Ex-BP Worker Files Whistleblower Suit Over Cleanup
Jan 30 2012 // A former BP employee has filed a whistleblower lawsuit against the company, claiming he was fired for airing concerns about the cleanup of Mississippi’s shoreline after the Gulf oil spill. In a federal suit filed...
Arctic Ice Melt Lifts Hopes for Russian Maritime Trade
Jan 27 2012 // When severe snowstorms prevented life-sustaining fuel supplies from reaching the frozen Alaskan town of Nome, U.S. officials turned to a Russian company for help. The relief mission through perilous, ice-choked seas was...
Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study
Jan 27 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 Must Cover Some Transocean Gulf Oil Spill Damages
Jan 27 2012 // A federal judge on Thursday said BP Plc must indemnify Transocean Ltd. for some compensatory damage claims over the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier, who oversees multistate litigation over...
BP Fails to Shift $15 Billion Gulf Oil Spill Costs to Transocean
Jan 27 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...
Analyst: BP to Agree to $20-25 Billion Gulf Oil Spill Settlement with Justice Dept.
Jan 19 2012 // BP is likely to agree to pay the U.S. Department of Justice $20-$25 billion to settle all charges around the Gulf of Mexico oil spill, according to a leading analyst, a prediction that is at least twice what the company...
Insurance Settlement Boosts Gains for McMoRan in Q4 2011
Jan 18 2012 // New Orleans-based independent petroleum producer McMoRan Exploration Co. posted a fourth-quarter profit on higher oil prices and a settlement of its 2008 hurricane insurance claims, the company reported Jan. 17. For the...
Travelers Broadens Coverage and Raises Limits for Oil and Gas Risks
Jan 17 2012 // Travelers Oil & Gas has enhanced its EnergyPro Control of Well Care, Custody and Control coverage by increasing limits and broadening coverage. More contracts for specialized oil and gas field services, such as...
Company Cautions Against Linking Well, Ohio Quakes
Jan 13 2012 // Boos, applause and the occasional outburst marked a gathering of about 500 Ohio residents seeking explanations for a series of earthquakes that has hit their area since deep injection drilling came to town. At a news...
Cyclone Heidi Shuts Australian Iron Ore Ports, Oil Fields
Jan 11 2012 // A tropical cyclone bearing down on Western Australia forced the closure of some of the world’s largest iron ore ports and several offshore oil fields on Wednesday, the first major series of shutdowns in what is...
Grounded Cargo Ship Breaks Apart on New Zealand Reef
Jan 9 2012 // A cargo ship grounded off the New Zealand coast since October has split in two, spilling sea containers and debris and sparking fears of a fresh oil spill, maritime officials said Sunday. The wreck of the Greek-owned Rena...
Ecuador Plaintiffs to Seek Damages from Chevron Abroad
Jan 5 2012 // Ecuadorean plaintiffs who won an $18 billion environmental case against Chevron Corp will pursue legal action against the company overseas in a bid to collect the damages, their lawyer said on Wednesday. An appeals court...
Ecuador Court Upholds $18 Billion Judgment against Chevron
Jan 4 2012 // An Ecuadorean appeals court on Tuesday upheld a ruling that Chevron Corp should pay $18 billion in damages to plaintiffs who accused the U.S. oil giant of polluting the Amazon jungle and damaging their health. A local...
Russian Oil Rig Sinks; More than 50 Feared Dead
Dec 19 2011 // A drilling rig with 67 crew on board capsized and sank off Russia’s far eastern island of Sakhalin on Sunday while being towed through a winter storm, leaving more than 50 dead or missing in the icy Sea of...
Chevron Lawsuit Flags Brazil Investment Risks
Dec 16 2011 // A $10.6 billion lawsuit against U.S. oil company Chevron and rig contractor Transocean could further cool an increasingly chilly investment climate in Brazil’s natural resources industry. The lawsuit, filed as a...
Alabama Judge Grants Probation to 4 in Oil Spill Claims Fraud
Dec 14 2011 // Four people will spend five years on probation after being convicted of pocketing money from Gulf oil spill claims. The Press-Register reported that U.S. District Judge William Steele also ordered the four to pay back...
