BP Finalizes $7.8 Billion Settlement With Gulf Oil Spill Plaintiffs
BP officials announced Wednesday the company has finalized a deal with thousands of plaintiffs for damages sustained as a result of the worst environmental catastrophe in U.S. history.
Offshore Regulations Following Gulf Spill Are Inadequate, Says Commission Report
In its final progress report, the National Commission on the BP Deepwater Horizon oil spill concluded more must be done to prevent a similar disaster in the Gulf of Mexico.
Hydraulic Fracturing Knocking On Illinois' Doorstep
Hydraulic fracturing and natural gas development could spread soon to Illinois as companies rush to lease land in the southern part of the state.
Half Of U.S. Legislatures Contemplating Hydraulic Fracturing Bills
As natural gas and oil extraction expands across the United States thanks to hydraulic fracturing and advances in horizontal drilling, almost half of the country's legislatures either have enacted or have pending legislation that regulates the controversial practice of hydraulic fracturing.
Brazil Oil Chief Expects Oil At $119 A Barrel For 2012
The CEO of the biggest oil company in one of the world's fastest-rising economies thinks high oil prices are here to stay.
President Calls On Congress To Curb Energy Price Speculation
President Barack Obama on Tuesday called on Congress to pass a series of measures that would help limit what he called speculation that's driving up the price of oil and gasoline.
Argentina Moves To Take Control Of Spanish Oil Subsidiary
Argentina's President Cristina Fernandez's government is moving forward with a plan to nationalize its largest oil company, currently owned by Spanish company Repsol, deepening a rift between Buenos Aires and Madrid.
Penn Lawmaker Introduces Bill Seeking Moratorium On Natural Gas Injection Wells
A Pennsylvania lawmaker is trying to impose a moratorium on natural gas injection wells following evidence they are linked to increased cases of earthquakes in the U.S.
Gulf Of Mexico Oil Leak Is Likely Natural Occurence, Regulators Say
The Bureau of Safety and Environmental Enforcement announced the source of a 10-square mile oil sheen in the Gulf of Mexico was likely a naturally occurring oil seep from the ocean floor, not a spill from an oil rig.
President Launches Natural Gas Task Force
President Barack Obama announced Friday the creation of a new federal inter-agency group charged with ensuring the nation's natural gas resources are developed safely.
Argentinian Seizure Notice Looms For Spanish Oil Major
A showdown over control of an oil company is pitting Argentina against its former colonial ruler, Spain. The bone of contention is an Argentinian company that the government may seize from Spanish oil major Repsol.
Shell: Gulf Oil Slick Dissipating
Royal Dutch Shell (NYSE: RDSA) on Friday said the oil slick first reported Thursday in the Gulf of Mexico is starting to dissipate.
API Calls On EPA To Improve Proposed Natural Gas Air Emission Standards
The American Petroleum Institute, the largest industry trade group called upon the U.S. Environmental Protection Agency Thursday to improve its air emission standards ahead of their expected unveiling next week.
Judge Issues Injunction Against Pennsylvania Law Regulating Natural Gas Industry
Pennsylvania's state court issued an injunction against the state's latest hydraulic fracturing legislation, days before it was scheduled to take full effect.
Royal Dutch Shell Reports Gulf Oil Leak
Royal Dutch Shell on Thursday announced it has deployed an oil spill response vessel in the Gulf of Mexico after a 10-square mile oil sheen appeared near the company's area of operations.
Brazil Judge Blocks Injunction Against Chevron
A Judge in Rio de Janeiro state in Brazil blocked a request that Chevron and Transocean's operations in that country be halted following two offshore oil spills.
Californians Protest Income Disparity And Corporate Taxes, Target Chevron
A small band of protesters gathered outside the home of Chevron CEO John Watson on Tuesday following a California report accusing the oil giant of not paying its fair share of taxes.
New York Hosts Fracking Job Fair
New York remains on the fence whether or not to allow high-volume horizontal hydraulic fracturing, but already companies are knocking on the state's door.
Fracking Controversy Goes On As Pennsylvania Family Calls Water Tests 'A False Reading'
When the U.S. Environmental Protection Agency announced late last year that it was going to test water samples from dozens of homes in Dimock, Pa.., Craig and Julie Sautner thought they finally had their chance to be heard.
Chesapeake Energy Raises $2.6 Billion In Asset Sale To Fight Low Natural Gas Prices
With the price of natural gas at its lowest point in two years, natural gas-producing companies are trying to raise enough capital to keep afloat, and the second-largest among them is no exception.
Earthquakes Linked To Natural Gas Drilling's Waste Water Wells, Says USGS
A U.S. Geological Survey team is preparing to publish a report that has drawn a link between hydraulic fracturing and an increase in earthquakes in the U.S.
Despite Oil Glut, ONEOK Plans Pipeline To U.S. Oil Hub
Oone of the largest natural gas distributors in the U.S. announced it is planning to invest up to $1.8 billion in the construction of a pipeline connecting the Bakken oil fields in North Dakota with the nation's oil hub in Oklahoma. But the new pipeline won't solve the problem of getting to refineries all the oil being produced in the U.S.
New EPA Results: Fracking Has Not Contaminated Water In Pennsylvania
The U.S. Environmental Protection Agency came out with further evidence that hydraulic fracturing did not contaminate ground water in a small Pennsylvania town where some residents claim natural gas drilling contaminated their domestic wells.
Iraq In 'Serious Crisis,' Says Kurdish Leader; Oil Ambitions Complicate Ethnic Tensions
Iraq is facing a serious crisis, Kurdistan's leader Massoud Barzani said during a recent visit in Washington -- and his semiautonomous region's ambitions in the oil-and-gas business aren't going to help defuse potentially explosive ethnic tensions.
Kurds Say Exxon Mobil Committed To Contract With Regional Government
The Kurdistan Regional Government announced Friday that the Exxon Mobil Corp. (NYSE: XOM) told its president this week the oil-and-gas major is committed to a controversial exploration contract that has angered officials of Iraq's national government.
Quebec Installs Outright Moratorium On Hydraulic Fracturing
The Province of Quebec announced this week it would not allow hydraulic fracturing pending further study of the controversial drilling technique.
Chevron Risks $22B As Brazil Files New Oil-Spill Suit
Chevron, the second-biggest U.S. oil company, and Transocean are facing a second civil lawsuit which doubles the amount they may have to pay for two oil leaks off the coast of Brazil.
Chevron Wins Small Victory In Fight Against Ecuador Ruling
The U.S. oil giant is engaged in a battle with Ecuadoran courts over $18 billion in environmental damages. While that saga continues, a judge in New York said Chevron doesn't have to pay a $21.8 million fine.
Federal Oil-Drilling Authority May Speed Up Grant Permits
The U.S. department in charge of land-based federal oil and gas drilling is getting a face-lift for the digital era, the Obama administration announced Tuesday. That may speed up the granting of permits dramatically
Brazil Moves Closer To Trying Chevron For Oil Spill
Chevron (NYSE: CVX) and Transocean (NYSE: RIG) will soon know which Brazilian court will preside over a criminal trial stemming from a November 2011 oil spill.