Russian oil companies plan to expand the use of hydraulic fracturing and horizontal drilling in new oil and gas wells this year. TNK-BP will use the techniques in nearly half of its new wells, Bloomberg reports.
A group of minority shareholders in TNK-BP, a Anglo-Russian oil company, have applied to withdraw from a $3.2 billion damages settlement against oil company BP, stemming from the company's attempts to partner with Russian oil firm Rosneft, Reuters reports.
The Russian oil giant Rosneft's recent $61 billion acquisition of TNK-BP from private investors effectively reverses the country's progress toward privatization, and places the burden on Russian taxpayers, Bloomberg reports.
Ratings agency Moody's on Wednesday placed Rosneft and TNK-BP on review for downgrade following Rosneft's agreement to buy the joint venture between BP and a group of Russian oligarchs.
State-owned Rosneft on Monday unveiled a deal to buy TNK-BP, Russia's third-largest oil producer. It is buying the 50 percent stake of British oil company BP for $17.1 billion in cash and a 12.84 percent share of Rosneft. It is buying the other half for $28 billion from a group of Russian billionaires.
MOSCOW (AP) — Russian state-owned oil giant Rosneft strengthened its hold on the country's lucrative oil industry when it sealed a deal Monday to buy TNK-BP, the 50-50 joint venture between BP, the British energy country, and a group of Russian oil oligarchs.
Transportation Secretary Anthony Foxx on Wednesday will announce new rules covering oil train safety, sources told The Wall Street Journal, which says the plan has railroads concerned about possible speed restrictions and oil companies worried about limits on tank car volumes.
ABB, the Swiss engineering group, has posted a 17 percent drop in second quarter net profit, a bigger loss than expected, dragged down by delays to solar power and offshore wind projects which have hurt the company’s power systems unit, Reuters reports.
Major electricity providers -- including Florida Power & Light and Duke Energy -- have been presenting testimony to the Florida Public Service Commission this week in support of their request to cut back on energy efficiency programs, a move opposed by conservationists, The News Service of Florida reports.
Environmentalists concerned about fish kills at the Indian Point nuclear plant on New York’s Hudson River are raising just a few of the questions being discussed as the state’s Department of Environmental Conservation opened hearings on renewing water quality permits for the facility, The New York Times reports.
Changes the Department of Energy is proposing to the way LNG export permits are handled will cause more delays and “regulatory uncertainty,” according to comments the American Petroleum Institute filed with DOE, FuelFix reports.
Federal Energy Regulatory Commission approval for construction of LNG export facilities in Cameron Parish, Louisiana is being challenged by groups including the Sierra Club, which are asking the FERC for more environmental analysis, Platts reports.
The city of Wichita Falls is mixing treated wastewater with lake water to guarantee a continued flow into the taps of residents, but they are turning up their noses at the idea of drinking it, Reuters reports.
By the end of 2014 General Electric hopes to produce systems that generate electricity using a solid oxide fuel cell, now that it has opened a testing and research facility for the process in upstate New York, Bloomberg reports.
A full range of Defense Department operations -– from planning to training and infrastructure -– are affected by climate change, which officials are trying to counter with a pro-active approach to the situation, Deputy Assistant Secretary of Defense Daniel Chiu told lawmakers at a hearing Tuesday.