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Oil & Gas

Weatherford Settles with BP Over Gulf Spill

The Houston Chronicle reports, oil field equipment maker Weatherford International will pay BP $75 million to settle claims the companies have against each other related to last year''s deadly blowout
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ConocoPhillips, Bangladesh Sign Bay of Bengal deal

According to the Associated Press, Bangladesh has signed a production-sharing contract with American energy giant ConocoPhillips to explore for gas in the virtually unexplored deep waters of the Bay of
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Chevron to Explore for Shale Gas in Bulgaria

The Associated Press reports, Bulgaria''s government says it has granted U.S. oil company Chevron a permit to explore for shale gas in northeastern Bulgaria over the next five years. In
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Shell in Nigeria Declares Force Majeure After Pipeline Fires

The Associated Foreign Press reports, Shell in Nigeria warned it may not be able to meet its contractual obligations for June and July on its Bonny Light crude, after multiple
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LyondellBasell to Purchase Olefins Pipeline System

PRNewswire reports that LyondellBasell recently announced the signing of an agreement to purchase approximately 200 miles of pipeline near Houston from BP by its Equistar Chemicals, LP subsidiary. The pipelines
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Exxon Makes New Oil Discovery in Gulf of Mexico

ExxonMobil Corp. disclosed details of an oil and gas field that could prove to be one of the largest discoveries in the Gulf of Mexico in recent years, according to
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Shell to Build Chemical Facility in Appalachia

According to the Charleston Daily Mail, oil and gas giant Royal Dutch Shell said it would build a world-scale chemical facility in Appalachia to take advantage of the region''s massive
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Louisiana Man Pleads Guilty in Oil Spill Fraud Case

A Louisiana man has pleaded guilty to submitting a fraudulent application for money from the $20 billion claims fund BP PLC established after the Gulf of Mexico oil spill, according
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Marathon to Pay $3.5 Billion for Eagle Ford Assets

Reuters reports that Marathon Oil Corp., will buy oil and gas properties in Texas'' Eagle Ford shale field $3.5 billion from private equity firm KKR and Hilcorp Resources Holdings LP.
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BP Spill Fund Winding Down After $4 Billion Paid Out

Reuters reports that the fund BP set up to deal with compensation claims after 2010''s Gulf of Mexico oil spill is starting to wind down after paying out around $4
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