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Oil & Gas

Louisiana Man Pleads Guilty in Oil Spill Fraud Case

A Louisiana man has pleaded guilty to submitting a fraudulent application for money from the $20 billion claims fund BP PLC established after the Gulf of Mexico oil spill, according
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Marathon to Pay $3.5 Billion for Eagle Ford Assets

Reuters reports that Marathon Oil Corp., will buy oil and gas properties in Texas'' Eagle Ford shale field $3.5 billion from private equity firm KKR and Hilcorp Resources Holdings LP.
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BP Spill Fund Winding Down After $4 Billion Paid Out

Reuters reports that the fund BP set up to deal with compensation claims after 2010''s Gulf of Mexico oil spill is starting to wind down after paying out around $4
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Exxon Facing Questions About Natural Gas Push

The Associated Press reports that Exxon Mobil Corp. rode higher oil prices to a $30 billion profit last year, but shareholders at its annual meeting Wednesday were more concerned about
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Chevron Seeks to Restart Its Richmond Refinery Project

Bloomberg reports that Chevron Corp. sought permission from Richmond, California, regulators yet again to upgrade equipment at its refinery there. A California court halted construction on new equipment at the
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BP Receives $1 Billion Settlement from Gulf Well Partner

According to the Associated Press, BP has struck a deal to receive around $1 billion from one of its minority partners in the blown-out Gulf of Mexico well, raising hopes
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Thirty People Hospitalized After Chlorine Gas Leak in Brazil

The Associated Press reports that chlorine gas leaked from a petrochemical plant has sent 30 people to the hospital in northeastern Brazil. Children and elderly are among those hospitalized with
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Republican Plan to Expand U.S. Offshore Oil Blocked in Senate

According to Bloomberg, a Republican proposal to expand offshore drilling was blocked in the Senate, one day after Democrats failed to advance legislation that would repeal $21 billion in tax
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Senate Blocks Bill Repealing $2 Billion in Oil Tax Breaks

According to the Associated Press, the Senate blocked a bill that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response
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BP-Rosneft $16 Billion Share Swap Deal Fails

BP''s hopes of making Arctic oil production the key to its recovery from the Gulf of Mexico spill were dealt a severe blow after it failed to secure a $16
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