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Oil & Gas

President Obama Praises Gulf Workers One Year After Oil Spill

According to the Associated Press, President Barack Obama is noting the one-year anniversary of the explosion of the Deepwater Horizon oil rig in the Gulf of Mexico, paying tribute to
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Venezuela’s PDVSA May Pay Exxon $3.7 Billion

According to Bloomberg, Petroleos de Venezuela SA may have to pay $3.7 billion in compensation to Exxon Mobil for assets nationalized by Venezuelan President Hugo Chavez in 2007, according to
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Effects of Gulf Spill Will Unfold Over Years

According to the Associated Press, the effects of the BP oil spill on the Gulf of Mexico and the animals that live in it will take place over years, if
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Shell to Take Interest in Chevron Gas Field

According to the Associated Press, Chevron Corp. said Shell will take an interest in the liquefied natural gas project that it operates in northwestern Australia. Shell Development Australia Pty Ltd.
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Ex-BP Boss Denies Investment Fund Reports

Reuters reports that former BP Plc chief executive Tony Hayward denied he was setting up an investment firm as he left a private meeting in one of the most luxurious
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First Oil Industry Megaload Arrives at Montana Refinery

The first of what could be hundreds of "megaloads" of oil industry equipment travelling the rural highways of the Northwest arrived at a Billings refinery early Wednesday, according to the
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Saudi Arabia to Target Solar Power in $100 Billion Energy Plan

Bloomberg reports Saudi Arabia, with 20 percent of the world’s oil reserves, is targeting renewable energy and nuclear power in a $100 billion spending drive aimed at meeting a jump
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BP Back in Arbitration over Rosneft Deal

BP PLC is attempting to convince an arbitration tribunal in London to allow a controversial share swap with Russia''s OAO Rosneft to go ahead, according to the Associated Press. The
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Settlements for Families in BP Spill Start at $8 Million

Settlements with families of workers killed in last year''s Deepwater Horizon oilrig explosion are running at $8 million to $9 million so far, reports The Wall Street Journal. This
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Exxon Resumes Singapore Refinery Maintenance After Worker Death

Exxon Mobil Corp. is resuming most maintenance work at its Singapore refining complex after a one-day stoppage because of the death of a worker yesterday, reports Bloomberg. The biggest U.S.
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