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Oil & Gas

BP in $7.2 Billion Deal with India’s Reliance

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In its second large deal since the start of the year, U.K. oil firm BP PLC said that it will spend $7.2 billion to buy a 30 percent stake in
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Oil Industry Braces for Fallout from Libya

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The Associated Press reports that oil consuming nations have emergency reserves they can use to stabilize markets in case the violence in Libya and the wider Middle East escalates and
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Industry Testifies on Plan to Cut Alaska Oil Taxes

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According to the Associated Press, oil industry leaders delivered a stinging rebuke of the production tax that became a hallmark of Gov. Sarah Palin''s administration, telling a legislative committee Wednesday
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Air Products Drops Hostile Bid After Airgas Wins on Poison Pill

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Bloomberg reports that after a Delaware judge upheld Airgas Inc.’s main anti-takeover defense, Air Products & Chemicals Inc., dropped its $5.9 billion hostile bid for the packaged- gas supplier. Air
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Toxic Nevada Mine Lawsuit Seeks $5 Million from BP, ARCO

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The Associated Press reports that neighbors of a toxic mine in northern Nevada have filed a class-action lawsuit against BP America and Atlantic Richfield Co. accusing them of intentionally and
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Ethanol Companies with a Bright Future, Report

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Marketwire reports that, driven by the U.S. Clean Air Act and EPA regulations, the long-term prospects for ethanol companies such as Pacific Ethanol and BioFuel Energy are looking brighter than
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Chevron Fined $9.5 Billion in Ecuador

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An Ecuadorean judge ruled in an epic environmental case that Chevron Corp. was responsible for oil drilling contamination in a wide swath of Ecuador''s northern jungle and ordered the oil
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PetroChina to Invest More than $5 Billion in Shale Natural Gas Play

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The Associated Press reports that PetroChina Ltd., China''s biggest oil and gas producer, has agreed to pay $5.4 billion for a 50-percent stake in Encana Corp''s shale natural gas play
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NJ Governor Vetoes Liquefied Natural Gas Operation

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The Associated Press reports that New Jersey Gov. Chris Christie vetoed a proposed offshore liquefied natural gas project 16 miles off the coast of Asbury Park, saying the plan is
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Dow Says Most of St. Charles Plant Running, Cracker Restarting

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Bloomberg reports that Dow Chemical Co., restarted all operations at its St. Charles chemical plant in Louisiana with the exception the steam cracker, said a company spokesman. A Jan. 3
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