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 greater-than-expected increase in crude inventories, coupled with falling stock prices and a strong dollar, sent oil prices tumbling again Wednesday. U.S. benchmark crude for December delivery slid 2.5 percent, or $1.97, to settle at $80.52 a barrel on the Nymex, while in London Brent lost $1.51 to end the trading day at $84.71, Reuters reports.
A lawsuit filed by Citizens for Responsibility and Ethics in Washington -– or CREW -– alleges that the Environmental Protection Agency failed to comply with a Freedom of Information Act request to release documents relating to the biofuels mandate in the 2014 Renewable Fuel Standard, The Hill reports.
Duke Energy CEO Lynn Good told NPR in an interview that she is focusing on making sure that the company is taking the right steps to address the Dan River coal ash spill, but she hopes that in a year or two the utility can move beyond the matter.
Three states in New England and two on the West Coast headed the list when it came to energy efficiency in 2014, while North Dakota, home to the Bakken shale, brought up the rear, in a survey published Wednesday by the American Council for an Energy-Efficient Economy, according to U.S. News & World Report.
Insurance companies are covering less but losing more money as a result of natural disasters, and sustainability advocate Ceres found in a survey that many “show a profound lack of preparedness” when it comes to the impact of climate change, The New York Times reports.
Sen. Joe Manchin, D-W.Va., has cruised waters off the Rhode Island coast to view the impact of climate change on marine life, and now Sen. Sheldon Whitehouse, D-R.I., is visiting his colleague’s home state to learn first-hand about the impact of government policy on the lives of coal miners, the Los Angeles Times reports.
An analysis of state environmental data by the Natural Resources Defense Council found that 5 million people in California already live within a mile of an active oil or gas well, and expanding drilling could expose them to greater health risks, the Los Angeles Times reports.
Four major corporations announced Wednesday they will offer employees discounts on buying or leasing home solar systems through Geostellar, in what's called the Solar Community Initiative program, The New York Times reports.
In order to cope with Western sanctions, the state-owned oil giant Rosneft is asking the Russian government for more than 2 trillion rubles, the equivalent of nearly $50 billion, The Wall Street Journal reports.