MOSCOW (AP) — Russia's deputy prime minister said Thursday that Rosneft's CEO has assured him the interests of disgruntled minority shareholders in oil firm TNK-BP would be respected.
LONDON (AP) — BP's sale of its Russian joint venture helped boost its first-quarter replacement cost profits to $16.5 billion, more than triple the $4.7 billion for the same period last year.
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.
BP should be able to meet any further legal costs associated with the 2010 Gulf oil spill after selling its 50 percent stake in TNK-BP for $28 billion in cash and Rosneft shares, RigZone reports.
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.
Energy Secretary Ernest Moniz said growing stocks of U.S. natural gas can serve as a bridge to develop more renewable energy capacity, The Verge reports.
The State Department released the first batch of 100,000 public comments on its draft environmental impact study of the Keystone XL pipeline, Bloomberg reports.
Employees at the Environmental Protection Agency and three other agencies will take their first furloughs stemming from budget cuts today, Politico reports.
Current and former U.S. officials say Iranian hackers have boosted cyberattacks against computer networks at energy companies, Dow Jones Business News reports.
Interior Secretary Sally Jewell is in Portland, Ore., on Friday to announce new energy cooperation with Gov. John Kitzhaber and a representative of Washington Gov. Jay Inslee, The Hill reports.
Attorneys general in four Northeastern states announced they would petition the Nuclear Regulatory Commission for a new review of regulations governing nuclear waste storage, The Associated Press reports.
A panel of infrastructure experts in New Jersey criticized Gov. Chris Christie for remarks that suggested there was no evidence of a link between climate change and Hurricane Sandy, E&E Publishing reports.
Participants in the Energy Department's Better Buildings Challenge, designed to reduce energy consumption at buildings, saved about $58 million in energy costs last year, The Journal Sentinel reports.
Commodities firm Prime International Trading Ltd., filed lawsuits against BP, Statoil and Royal Dutch Shell for alleged price manipulation, Reuters reports.
