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Oil & Gas

BP Pays $30 Million for Florida Tourism Promotion

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The Associated Press reports, BP PLC has agreed to pay $30 million to seven Florida Panhandle counties for tourism promotion over the next three years. Florida Gov. Rick Scott joined
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BP Sells Aluminum Unit to Japanese Consortium

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BP announced it is selling its Arco Aluminum subsidiary to a Japanese consortium for $680 million, reports the Associated Press. The company is selling Arco, a supplier of rolled aluminum
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Nigeria Awards $2 Billion Gas Processing Facility Contract to Eni, Oando

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Nigeria awarded a $2 billion contract to Eni SpA’s Agip and Oando Plc to build a natural gas processing facility at Obiafu in the southern Rivers state, reports Bloomberg. The
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Libya Threatens Oil Contracts with Western Firms

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The World Tribune reports, Libya has threatened to sever energy contracts with companies from NATO states. Officials said the regime of Col. Moammar Gadhafi has linked the future of energy
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Consortium Rejects BP Proposal Over Deal with Russia''s Rosneft

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BP PLC''s partners in Russian joint venture TNK-BP rejected a proposal by the British oil company, reports the Associated Press. BP said the consortium of Russian billionaire shareholders did not
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Valero to Buy Chevron’s Pembroke Refinery for $1.73 Billion

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Bloomberg reports, Valero Energy Corp. has agreed to buy Chevron Corp.’s U.K. refinery and 1,000 retail outlets for about $1.73 billion in cash, gaining its first European plant. The Pembroke
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BP to Pay $7.2 Billion for India Energy Fields Stake

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The British oil company BP said that it would pay $7.2 billion-growing oil and gas industry, reports the Associated Press. BP will take a 30 percent stake in 23 oil
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ConAgra to Shut Down Slim Jim Plant

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Bizjournal reports, ConAgra will complete the shutdown of its Garner Slim Jim production plant and lay off the remaining 394 employees there by May 27 – nearly two years after
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Oil Industry Braces for Fallout From Libya

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Oil consuming nations have emergency reserves they can use to stabilize markets in case the violence in Libya and the wider Middle East escalates and crimps production, officials said, reports
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Ecuador Accepts US Court Decision Favoring Chevron

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The Associated Press reports, Ecuadorian officials say they will temporarily block a potential multibillion-dollar judgment against Chevron Corp. for alleged environmental damages. The Attorney General''s Office says in a statement
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