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Oil & Gas

Transocean Shareholders Agree to $1 Billion Dividend

Shareholders of Transocean Ltd. approved a $1 billion dividend and rejected a company-backed plan to discharge directors and executives for liability stemming from last year''s Gulf of Mexico oil spill,
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Oil CEOs Head to Capitol Hill

The Associated Press reports that Senate Democrats are calling top executives from the five biggest oil companies before a congressional hearing to discuss the high gasoline prices, big profits and
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Conoco Reaches Deal to Close Refinery in Germany

Bloomberg reports that ConocoPhillips has reached an agreement to close its Wilhelmshaven refinery, allowing it to convert the northern German facility to an oil storage terminal from June 1. The
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Argentine Oil Refinery, Gas Workers Resume Strike

According to Bloomberg, refinery and natural gas workers in Argentina resumed a strike after failing to reach an agreement with labor ministry officials in a pay dispute, the Buenos Aires
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Chevron to Buy 228,000 Acres from Chief, Tug Hill

Chevron Corp. agreed to purchase 228,000 acres in the Marcellus Shale from Chief Oil & Gas LLC and Tug Hill, Inc., according to the Associated Press. Terms of the
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BP Agrees to $25 Million Penalty for 2006 Alaska Spills

BP''s subsidiary in Alaska will pay a $25 million civil penalty under a settlement that comes five years after more than 200,000 gallons of crude oil spilled from company pipelines
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President Obama Keeps Up Push to End Gas, Oil Tax Breaks

President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry,
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ARCO Pays EPA Nearly $1 Million for Nevada Mine Cleanup

The Associated Press reports that the Atlantic Richfield Co. has agreed to pay the federal government nearly $1 million to help cover cleanup costs at an abandoned polluted mine in
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Dow Chemical to Build New Chemical Plants

Dow Chemical Co. will increase its ethylene and propylene production to cash in on higher U.S. natural gas production from shale, according to the Associated Press. The chemical company said
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Fate of Idaho Megaloads Hangs at Stake at Hearings

The Associated Press reports that the fate of ExxonMobil''s plan to haul massive shipments of oil refinery equipment along U.S. Highway 12 in north central Idaho is at stake in
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