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Oil & Gas

BP Selling its Southern Calif. Gasoline Business

The Associated Press reports that BP PLC says it is selling its Southern California gasoline business as part of a major restructuring after last year''s catastrophic oil spill in the
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Lyondell to Shut Texas Olefins Unit for Planned Work

LyondellBasell Industries NV will shut one of two olefins units at its Channelview plant in Texas in the second quarter for planned work, according to Bloomberg. The unit, which has
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North Carolina Woman Admits to False Gulf Oil Spill Claim

According to the Associated Press, a North Carolina woman has pleaded guilty to submitting false compensation claims and other offenses in the wake of the BP PLC Gulf oil spill,
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Chevron Building $1.4 Billion Mississippi Facility

Chevron Corp. will build a $1.4 billion facility in Mississippi to make the main ingredient for motor oil and other lubricants, reports Bloomberg. The new facility will be located at
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Russia May Demand Oil Spill Fund as BP Looks Offshore

Bloomberg reports that Russia may require oil producers tapping offshore deposits to set aside cash to cover damages from possible spills as OAO Rosneft and BP Plc seek to explore
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Air Products’ Airgas Offer Too Low

Bloomberg reports that Air Products & Chemicals Inc.’s $5.9 billion hostile takeover offer for Airgas Inc. is too low, a Credit Suisse Group AG investment banker hired by Airgas’s board
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Exxon Shuts Papua New Guinea Gas Conditioning Plant

According to Bloomberg, Exxon Mobil Corp., operator of a $15 billion liquefied natural gas project in Papua New Guinea, shut a gas-treatment plant at the venture after “intruders illegally entered”
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Ethanol Companies’ Shares Rise on New EPA Guidelines

According to the Associated Press, shares of several ethanol companies climbed Friday after the Environmental Protection Agency approved higher levels of corn-based ethanol to fuel all cars manufactured in the
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Gulf Oyster Reef Bed Restoration Among First Since BP Oil Spill

The Associated Press reports that volunteers from across the country are rebuilding oyster reefs along the Gulf of Mexico''s delicate shoreline, hoping to revive oyster beds under assault for decades
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PetroChina Refinery Explosion Injures Thirty

Bloomberg reports, more than 30 people were hurt following an explosion at PetroChina Co.’s Fushun refining complex in northwestern Liaoning province, the official Xinhua News Agency said. No deaths
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