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.
New safety rules for oil trains don’t go far enough to address the risk of dangerous derailments, said lawmakers including Sens. Charles Schumer, D-N.Y., and Maria Cantwell, D-Wash., as well as Rep. Paul Tonko, D-N.Y., The Hill reports.
An environmental impact statement for the TransWest Express transmission line, which would run from Wyoming to Nevada, across the habitat of the sage grouse, has been published by the Bureau of Land Management in the Federal Register, starting a 30-day public comment period, E&E reports.
Toothpaste and other personal care items that contain synthetic microbeads would be banned under legislation introduced by House Energy and Commerce Chair Rep. Fred Upton, R-Mich. and Ranking Member Rep. Frank Pallone, D-N.J., who are concerned about the effect of the microbeads on bodies of water such as the Great Lakes, National Journal reports.
Sliding oil prices took Chevron’s profits down with them, as the company reported a 43 percent fall in profit in the first quarter, to $2.57 billion, despite an increase in production, Reuters reports.
Oil dropped off its 2015 highs Friday on news of record Iraqi exports in April, coupled with gains in the dollar. U.S. benchmark crude for June delivery settled 48 cents lower at $59.15 a barrel on the Nymex, while in London, Brent lost 32 cents to $66.46, Reuters reports.
Without ever directly linking California’s drought to the wider issue of climate change, Gov. Jerry Brown has folded one issue into the other to push for wider environmental reforms, The Atlantic reports.
Used Model S electric vehicles made by Tesla Motors can now be purchased on the company’s website, complete with an extended warranty that covers up to 4 years or 50,000 miles, The Wall Street Journal reports.
Plans for an LNG export facility in Warrenton, Oregon won’t be upset by Clatsop County's rejection of a construction permit for a pipeline connecting to it, because only the Federal Energy Regulatory Commission can make such a decision, Oregon LNG’s CEO told Platts.