A Chinese court is allowing a $78 million lawsuit brought against ConocoPhillips (NYSE:COP) to move forward, after having dismissed a similar lawsuit in 2011, the state-run Xinhua News Agency reported Friday. The action is being brought by local aquaculture farmers who believe their sea cucumbers were killed by the oil spill.
China National Offshore Oil Corp. announced that it intends to set up an environmental protection fund of its own, months after ConocoPhillips said in September it intended to compensate local Chinese communities and pay for environmental damage following a spill at one of the company's offshore rigs in Northern China.
Company officials claimed victory over the spill on Christmas day, citing the company's robust response brought a swift end to the spill first reported two weeks ago.
In order to keep the American people updated on the Gulf of Mexico oil spill restoration, BP will be launching its new advertising campaign immediately after Christmas.
Images from an underwater vehicle proved the company's original fears that the 40,000 barrel leak sprung during the transfer of crude oil from a floating storage facility to an awaiting cargo tanker.
Nigerian officials said they expect oil leaked from a Royal Dutch Shell offshore well to reach the country's shores Thursday. Shell officials suspect half of the estimated 40,000 barrels of oil leaked in the Atlantic this week have already naturally dissipated or evaporated.
Interest in arctic oil has climbed in recent years when industry, government and third party researchers independently made realizations that the amount of recoverable world-class oil deposits was greater than previously thought. That has yet to be properly tested with a drill bit.
Environmentalists fear oil prospecting in the region will lead to oil discoveries, prompting greater interest in the Arctic oil found underneath sensitive and hard-to-reach areas like ice-locked seas, and further endangering regional ecosystems.
Business mogul Donald Trump has some harsh words for President Obama, China, and a whole slew of others in his book Time to Get Tough: Making America #1 Again.
Roughly 2,600 gallons of oil have leaked off the Brazilian coast since Sunday. The spill, reported Agence France Presse, threatens an area of the country's coast line that Carlos Minc, Environment Secretary in Rio de Janiero state, called an ecological treasure.
An oil-drilling rig with 67 crew members on board capsized and sank off the Russian Far East island of Sakhalin when it ran into a storm while being towed, and 51 of the crew were unaccounted for, Russian news agencies reported on Sunday.
Friday's settlement is the fourth involving companies that in some shape or form worked on the Deepwater Horizon with BP, or supplied it with equipment. Previous settlements involved MOEX and Anadarko, BP's partners in the Macondo well, and Weatherford, the company that made the float collar used at the well.
Brazil's said it is asking Chevron to halt its activities in the country and pay $10.7 billion in damages following an oil spill in November off the coast of Rio de Janeiro. However, Chevron said it has not received notice of the action.
ConocoPhillip's Bohai Bay oil spill may be over, but like its British counterpart in the Gulf of Mexico, the U.S. super major's Chinese subsidiary has not seen the end of litigation in the wake of its Chinese spill.
A majority of Americans say members of the U.S. Senate and House of Representatives should receive salary cuts, have their pensions discontinued and be required to spend more time on Capitol Hill.
Petroleum major BP has accused Halliburton Energy Services Inc., the U.S. and Dubai-based oilfield services corporation, of intentionally destroying crucial evidence related to the Deepwater Horizon oil rig explosion in the Gulf of Mexico last year.
Canada believes the United States will ultimately approve TransCanada's proposed Keystone XL pipeline, which Washington put on hold last month for more than a year, Natural Resources Minister Joe Oliver said on Friday.
The business, which includes pipelines and processing stations that remove valuable crude-like liquids from gas, owns or has rights to about 4,000 kilometers of pipeline systems and 21 million barrels of storage capacity.
Enbridge Inc's proposed C$5.5 billion ($5.3 billion) pipeline to British Columbia poses a raft of environmental risks, according to a new report that signals the project will become the next battleground over the future of Canada's oil sands.
After a year of delays, U.S. prosecutors offered their opening arguments Tuesday in Anchorage at a hearing demanding that BP's probation be revoked.
The public relations campaign at end of year 2010 is proving to be a hard one for U.S. oil giant Chevron Corporation. Faced with an oil leak, the suspension of its drilling rights and severe public backlash all in Brazil, the company has now been labeled the most toxic energy company.
State readies a new ad campaign to reverse public opinion severely hurt by the Deepwater Horizon oil spill of 2010.
