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.
Democratic governors from eight East Coast states are set to petition the Environmental Protection Agency to increase air pollution regulations on nine Midwest states, citing cross-state winds that blow pollutants into their states, The New York Times reports.
Industry and state government experts say the Environmental Protection Agency's proposed cut to blending levels in next year's Renewable Fuel Standard could result in the closure of as many as 20 ethanol plants in the Midwest, the Lincoln Journal Star reports.
Energy-conservation lobbying groups the Alliance to Save Energy and the American Council for an Energy-Efficient Economy urged the Environmental Protection Agency to prioritize energy efficiency in its greenhouse-gas regulations at existing power plants, National Journal reports.
Proponents and opponents of the Keystone XL pipeline are boosting lobbying efforts and public campaigns as they await the State Department's environmental analysis expected to play a key role in the final decision, Bloomberg reports.
As the Obama administration moves closer to a final decision on the Keystone XL pipeline, time is running short for Canada to offer a plan to cut greenhouse gas emissions as a bartering chip for the project's approval, Reuters reports.
The National Oceanic and Atmospheric Administration will finalize its rules limiting ship speed in certain regions in East Coast waters to prevent collisions with endangered North Atlantic right whales, The Hill reports.
China's National Development and Reform Commission said the country is already facing threats from extreme weather and is weakly prepared to deal with more devastating impacts of climate change, Reuters reports.
The Environmental Integrity Project said in a report that the current boom in natural gas production from shale would eventually increase carbon-dioxide emissions in related industries by 91 million tons per year, E&E reports.
In an interview with FuelFix, former Mexican President Vicente Fox said he's "optimistic" that Mexico's Congress will approve constitutional reforms that would open the nation's energy markets to outside investment.