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Oil & Gas

Indonesia Seeks $2.5 Billion Oil Spill Payout from Australian Company

August 26, 2010
Reports from Indonesia say the government will seek $2.5 billion in compensation from an Australian-based exploration company that was responsible for an oil spill in the Timor Sea last year.
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Cosan, Shell Sign Deal on Ethanol Venture

August 25, 2010
Royal Dutch Shell and Brazilian sugar and ethanol company Cosan signed a binding agreement to create a global ethanol business, according to Reuters. The joint venture, with estimated annual sales
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Native American Indians Will Receive Gas Royalties Settlement

August 24, 2010
According to the Associated Press, Marathon Oil Co. and Dominion Oklahoma Texas Exploration and Production Inc. will pay $6.9 million to resolve claims the two energy companies separately underpaid natural
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EPA Moves Drilling Hearing, Expecting Crowds

August 19, 2010
In anticipation of as many as 8,000 people at a public hearing on natural gas drilling, the Environmental Protection Agency announced that it was moving the hearing from Binghamton
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Scientists Say Most Gulf Spill Oil Still in Water

August 18, 2010
The Associated Foreign Press reports, U.S. scientists have estimated nearly 80 percent of the oil spilled from a BP well in the Gulf of Mexico is still in the gulf,
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BP Acquires Devon Assets for $2 Billion

August 17, 2010
BP has completed the acquisition of an additional interest in Azeri-Chirag-Gunashli oilfield development in the Azerbaijan sector of the Caspian Sea from the U.S. independent oil and gas company Devon
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Chevron Announces Natural Gas Discovery Offshore Australia

August 12, 2010
In a press release statement, Chevron Corp. announced a natural gas discovery in the Exmouth Plateau area of the Carnarvon Basin offshore Western Australia. The discovery is located in Australia’s
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Storms Delay Drilling for Final BP Well Plug

August 11, 2010
According to the Associated Press, approaching storms forced crews to suspend drilling the final stretch of a relief well aimed at shooting a permanent underground plug into BP''s busted oil
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BP Refinery Illegally Emitted Toxic Chemicals

August 10, 2010
The Associated Press reports that BP illegally emitted nearly 500,000 pounds of toxic air pollutants at its Texas City refinery during a 41-day period this spring, the state attorney general
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BP to Pump Cement into Blown-out Gulf Oil Well

August 5, 2010
According to the Associated Press, BP engineers planned to start shoving cement into the blown-out Gulf of Mexico oil well on Thursday, snaking it down to the sea floor through
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