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Oil & Gas

Industry Testifies on Plan to Cut Alaska Oil Taxes

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

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

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

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

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

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

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

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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Alaska Lawmakers Propose Ditching Pipeline Plan

According to the Associated Press, Alaska lawmakers introduced legislation to abandon a centerpiece of former Gov. Sarah Palin''s administration: a state-sanctioned effort to advance a major natural gas pipeline. The
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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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