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.
Release of the Interior Department’s mountaintop mining stream buffer rule is to come in April instead of December, and the Security and Exchange Commission’s rule on mandatory foreign disclosure won’t be published until October 2015, according to latest edition of the Unified Agenda, which lays out a timeline for Obama administration regulations, The Hill reports.
Saying the Texas regional clean air plan doesn’t go far enough to reduce haze, the Environmental Protection Agency is ordering 15 coal-burning generating units at eight power plants in the state to do more to limit sulfur dioxide emissions, The Dallas Morning News reports.
With investors uncertain about whether OPEC will agree on production cuts at this week’s meeting, oil resumed its decline Monday. West Texas Intermediate crude for January delivery lost 1 percent, down 73 cents to settle at $75.78 a barrel on the Nymex, while in London Brent fell 68 cents to $79.68, Bloomberg reports.
Even as the Environmental Protection Agency delayed a decision on the 2014 Renewable Fuel Standard, scientists and ethanol producers are moving ahead with efforts to produce more of the fuel from agricultural waste, the Los Angeles Times reports.
In a campaign against extending the wind energy Production Tax Credit, Americans for Prosperity has published ads in the hometown districts of 15 Republican lawmakers urging readers to contact them and suggest they oppose any reauthorization, The Hill reports.
A scientific analysis released by the World Bank finds that climate change impacts will harm the most vulnerable countries around the globe by mid-century even if an international accord is reached limiting greenhouse gas emissions, because of the effect of what’s already been released into the atmosphere, E&E reports.
American University’s board may have decided Friday against fossil fuel divestment, but major pension funds in Sweden and Norway have taken the step, and New London, Conn. is among 36 cities and countries that have done so, E&E reports.
Jerrel Hancock, 24, was the man who died in Thursday’s blast in the Gulf of Mexico, according to officials in Louisiana, in an explosion that took place when he and other employees of Turnkey Cleaning Services were working on a heater-treater on a platform operated by Fieldwood Energy, FuelFix reports.
The battle in U.S. court over the ownership of a tanker full of Kurdish crude has been continuing, with attorneys for Kurdistan arguing Friday that the case shouldn’t be decided in the American judicial system, FuelFix reports.