Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
BP CEO: Industry Needs to Reassess Deep-Sea Operations, Safety
Jun 4 2010 // Oil companies need to improve safety technology for deep-water drilling and the massive spill in the Gulf of Mexico should prompt the industry to rethink its business model for such operations, BP chief Tony Hayward said...
Oil Rig Tragedies Shock Insurers, Destabilize Market, Says Willis
Jun 4 2010 // The U.S. Deepwater Horizon and Venezuelan Aban Pearl drilling rig losses have left upstream energy insurers with an unprecedented bill of $795 million within the space of a single month, destabilizing the market and...
Florida’s Pensacola Beach First in State to Suffer Oil Effects
Jun 4 2010 // Oil sheen and tar balls have washed ashore on a northwest Florida beach crowded with holidaymakers and swimmers in what appeared to be the first impact on the state from the Gulf of Mexico oil spill, authorities and...
Gulf Spill Workers Complaining of Flulike Symptoms
Jun 4 2010 // For days now, Dr. Damon Dietrich has seen patients come through his emergency room at West Jefferson Medical Center with similar symptoms: respiratory problems, headaches and nausea. In the past week, 11 workers who have...
BP Oil Spill Losses Hit Reinsurers; Premiums Jump
Jun 3 2010 // Reinsurers have bumped up prices for offshore energy-related insurance premiums by 50 percent following insurance industry losses of up to $3.5 billion from the BP plc oil spill in the Gulf of Mexico, Moody’s...
2010 Atlantic Hurricane Season: 76% Chance Major Storm to Hit U.S.
Jun 3 2010 // The 2010 Atlantic hurricane season will be even more active than feared, leading U.S. forecasters said Wednesday as they predicted 10 hurricanes, five of them major, with a 76 percent likelihood that a major hurricane...
Cyclone Phet Takes Aim at Oman; Pakistan on Alert
Jun 3 2010 // Tropical Cyclone Phet roared toward the coast of Oman and was expected to make landfall late on Thursday at the earliest before barreling toward the oil-exporting Gulf Arab state’s LNG facilities. But Phet, a...
Florida’s Emergency Chief Hopes Agency Turmoil Is Over
Jun 2 2010 // Florida’s Division of Emergency Management, under a second director since Craig Fugate left a year ago to run its federal counterpart, is getting a jump start on the hurricane season. With the storm season to begin...
Gulf Oil Spill Threatens Mississippi, Alabama Islands
Jun 1 2010 // Oil from BP’s out-of-control Gulf of Mexico oil spill could threaten the Mississippi and Alabama coasts this week, U.S. forecasters said Monday, as public anger surged over the country’s worst environmental...
AIR Report Analyzes Potential Hurricane ‘Implications’ of Gulf Oil Spill
Jun 1 2010 // Catastrophe risk modeling firm AIR Worldwide has released a report that examines the implications of the Gulf oil spill on the upcoming hurricane season as well as indications of what this might mean to wildlife,...
Gulf Oil Rug Workers Claim Safety Sacrificed to Save Money
Jun 1 2010 // Two workers injured when an oil rig exploded in the Gulf of Mexico told Congress that the companies in charge of the doomed drilling operation cut corners and neglected maintenance in a race toward higher profits. Oil has...
Transocean Revises Bid to Limit Liability After U.S. Criticism
Jun 1 2010 // The Obama administration told Transocean Ltd. in a letter last week it was “simply unconscionable” for the drilling firm to try to limit its liability in the Gulf of Mexico oil spill accident, prompting the...
Gulf Oil Flow Halted But It’s Unclear If It Can Be Sustained
May 28 2010 // The flow of oil and gas from the broken well in the Gulf of Mexico has been stopped by pumping mud into it, however the challenge will be whether that can be sustained, the U.S. incident commander Admiral Thad Allen said...
Hurricanes May Snap Gulf of Mexico Pipelines, Study Says
May 28 2010 // Hurricanes could rupture underwater oil and natural gas pipelines in the Gulf of Mexico, which is already struggling with the worst oil spill in U.S. history, according to a new study by researchers at the U.S. Naval...
Recent Patterns Heighten Threat of Active Atlantic Hurricane Season
May 27 2010 // The threat of an above-average 2010 Atlantic hurricane season has heightened over the past month and it now promises to be “a hell of a year,” a leading U.S. forecaster said Wednesday. William Gray, the...
Justice Department Defends Retroactive Liability Limit on BP
May 26 2010 // The U.S. Justice Department said Tuesday that Congress could retroactively impose a higher liability cap on BP Plc to pay for the damage from its growing oil spill, and the company would likely lose if it challenged the...
U.S. Slams Transocean’s Attempt to Limit Liability for Oil Spill
May 26 2010 // The Obama administration Tuesday slammed as “inappropriate” an attempt by Transocean Ltd to limit its liability for its role in the BP Plc oil spill in the Gulf of Mexico to under $27 million. Noting that the...
U.S. Hurricane Center Director Says Haiti is ‘Biggest Concern’
May 26 2010 // U.S. National Hurricane Center director Bill Read said Tuesday that earthquake-ravaged Haiti was his biggest concern as another Atlantic hurricane season gets under way. He also acknowledged that a powerful storm could...
S&P Expects Re/Insurance Losses from Gulf Oil Spill to Be Minimal
May 24 2010 // Based on what are so far only preliminary estimates, Standard & Poor’s Ratings Services said it expects insured losses from the oil spill in the Gulf of Mexico “to be significantly less and be spread among...
U.S. Vows to Replace BP on Oil Response If Necessary to Control Spill
May 24 2010 // The U.S. government will move aside BP from the operation to try to halt the Gulf of Mexico oil spill if it decides the company is not performing as required in its response to the well leak, U.S. Interior Secretary Ken...
