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.
Proponents of a carbon tax -– which had been killed on the national level -– are hoping to revive the strategy in state capitals on the back of the Obama administration’s Clean Power Plan, National Journal reports.
Incumbents in swing states – like Sens. Kelly Ayotte, R-N.H., Mark Kirk, R-Ill. and Michael Bennett, D-Colo. – may have a tough time in their re-election campaigns staking out a position on climate change and the Obama administration Clean Power Plan, National Journal reports.
Regardless of changes made by the Pennsylvania Department of Environmental Protection to proposed new rules regulating gas and oil drilling, the Conventional Oil and Gas Advisory Committee says it will reject them, the Pittsburgh Post-Gazette reports.
A study published in Energy Science & Engineering says the techniques used to analyze methane emissions may be substantially underestimating the quantity in the atmosphere because of problems calibrating the equipment, The New York Times reports.
After reaching a six-month low, oil prices rebounded early Tuesday amid continuing concerns about high global production and China's economy. Brent crude rose 79 cents to $50.31 in London, while U.S. crude jumped 75 cents to $45.92 in trading on the Nymex, Reuters reports.
The move by NextEra Energy Partners LP to buy the privately owned pipeline company NET Midstream for $2.1 billion brings the wind and solar power generator the capacity to move large quantities of Texas natural gas, FuelFix reports.
Ameren Missouri is abandoning plans to build a new reactor at its Callaway County nuclear plant, citing frustrations with the Nuclear Regulatory Commission, a lower assessment for future power demand and falling prices for alternative technologies, Platts reports.
A number of companies that sought to shield themselves from declining crude prices with long-term contracts will start feeling the pinch as those deals expire, and that—combined with more stringent lending standards from banks—will likely see more firms defaulting on their debt in the coming months, according to predictions from Moody’s Investors Services, FuelFix reports.