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Oil & Gas

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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Alaska Oil Pipeline Restarts

Reuters reports that Alaska''s crude oil pipeline resumed operations on Monday, restoring the flow of about 12-percent of U.S. oil production nearly a week and a half after the line
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Afren’s Wells Target 900 Million Barrels of Oil in East Africa

Bloomberg reports that Afren Plc, a U.K. oil and gas explorer focused on Africa, said it’s targeting about 900 million barrels of oil and gas resources with its drilling campaign
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Eugene Island Crude Premium Rises After Platform Shutdown

According to Bloomberg, the premium for Eugene Island crude widened after Chevron Corp. halted production at a platform for about an hour yesterday. Chevron shut in a shallow-water platform in
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Small Leak Shuts Down Oil Pipeline in Alaska

According to the New York Times, officials have said they had not determined the cause or full extent of the leak in a pipe that connects a huge storage tank
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