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.
A group of 13 states led by North Dakota is pressing for a federal judge's injunction against the Environmental Protection Agency's Clean Water Rule to take effect nationwide after the agency said it would enforce the rule in states not involved in an initial lawsuit, The Hill reports.
Sen. Michael Bennet, D-Colo., said he's willing to support ending the Commerce Department ban on crude oil exports if the policy change is accompanied by other actions to promote clean energy and address climate change, FuelFix reports.
Wisconsin Gov. Scott Walker, a Republican presidential hopeful, told voters in San Antonio that the U.S. should behave like an "energy rich country" and lift the ban on crude exports, the San Antonio Business Journal reports.
White House Senior Adviser Brian Deese has spearheaded the Obama administration's climate agenda during his first six months on the job, and plans to play an active role in upcoming budget battles with Congress and December's United Nations climate talks in Paris, E&E reports.
A new report from Citigroup says that large natural gas discoveries in Egypt and Iran could reduce demand for liquefied natural gas in the Middle East, limiting opportunities in the market for U.S. producers looking to export, Bloomberg reports.
Gas stations are an increasingly tempting target for credit card information thieves and other fraudsters, The Wall Street Journal reports, prompting both the credit card and fuel industries to move more quickly on defensive actions.
French state-owned nuclear company EDF announced it would delay construction of a next-generation nuclear plant in Flamanville for another year, citing a new increase in cost, The Financial Times reports.
The Australian Competition & Consumer Commission will delay until Sept. 17 its decision to approve or reject Shell's proposed takeover of U.K.-based BG Group; the deal was approved by the European Commission on Wednesday, The Wall Street Journal reports.