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Oil & Gas

Saudi Arabia to Target Solar Power in $100 Billion Energy Plan

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Bloomberg reports Saudi Arabia, with 20 percent of the world’s oil reserves, is targeting renewable energy and nuclear power in a $100 billion spending drive aimed at meeting a jump
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BP Back in Arbitration over Rosneft Deal

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BP PLC is attempting to convince an arbitration tribunal in London to allow a controversial share swap with Russia''s OAO Rosneft to go ahead, according to the Associated Press. The
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Settlements for Families in BP Spill Start at $8 Million

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Settlements with families of workers killed in last year''s Deepwater Horizon oilrig explosion are running at $8 million to $9 million so far, reports The Wall Street Journal. This
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Exxon Resumes Singapore Refinery Maintenance After Worker Death

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Exxon Mobil Corp. is resuming most maintenance work at its Singapore refining complex after a one-day stoppage because of the death of a worker yesterday, reports Bloomberg. The biggest U.S.
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Indian Police Renew Efforts to Extradite Former Union Carbide Chief

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According to the Associated Press, an Indian court agreed to a new request for the extradition of the former chief of a U.S. chemical company in connection with the 1984
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Oil Settles Above $105 as Gasoline Demand Rises

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Oil prices made up for a week-long slump following the Japanese earthquake and are now trading at the highest levels since September 2008, according to the Associated Press. Prices climbed
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North Sea Deepwater Drilling Rules Safe

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According to the Associated Press, the British government has given the thumbs up to its regulatory regime for deepwater drilling in the North Sea, despites concerns raised by a parliamentary
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Shell Drills 17 Wells in China

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Reuters reports that Royal Dutch Shell is drilling 17 wells in China, including for tight gas and shale gas. If the drilling is successful, Shell aims to spend $1 billion
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AE Biofuels Secures Additional Funding for Start-up of Ethanol Plant

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Business Wire reports that AE Biofuels, Inc. recently announced that its wholly-owned advanced ethanol subsidiary AE Advanced Fuels Keyes, Inc. closed a $3.5 million financing with Third Eye Capital Corporation.
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Saudi Aramco Teams Up with Sinopec on Refinery

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State-run oil giant Saudi Aramco says it has signed a memorandum of understanding with the China Petrochemical Corp. for the development of the multi-billion dollar Yanbu refining complex, according to
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