Deals signed by Rosneft CEO Igor Sechin in St. Petersburg Friday –- including the sale of a Siberian field to BP and the purchase of a German refinery stake from Total -– illustrate the limits of Western sanctions against Russia, The Wall Street Journal reports.
PARIS (AP) — A French court has cleared 14 companies accused of bribing the Iraqi government under Saddam Hussein in exchange for contracts as part of the U.N. oil-for-food program.
French companies, including Renault Trucks, Schneider Electric and Legrand, and several managers were acquitted on Thursday of bribery, corruption and misuse of company assets. It was the second trial involving allegations that companies circumvented the embargo imposed on Saddam's government from 1990-2000.
Although Western bankers and other top business chiefs are staying away from the St. Petersburg International Economic Forum for a second year in a row, top officials from major oil companies like BP, Royal Dutch Shell and Total are planning to attend this week, Reuters reports.
Total CEO Patrick Pouyanne has warned the new provincial government in Alberta that any move to increase taxes on the energy sector could dent future investment in oil sands production, The Globe and Mail reports.
NICOSIA, Cyprus (AP) — Cyprus and French oil and gas company Total have signed an agreement to extend a search for natural gas off the east Mediterranean island's southern coast after disappointing results from an initial exploration round.
Cyprus' energy ministry said in a statement Wednesday that Total will continue its search in one of two areas where it's already licensed to drill.
The continuing protests against shale gas drilling in Algeria reflect population concerns about the use of water for fracking in a desert, as well as lingering anti-colonial resentment focused on French oil company Total, The New York Times reports.
PARIS (AP) — French energy producer Total wrote down the value of oil and gas fields in Canada and the United States and said it would slash investment after the collapse in market prices led to a net loss of $5.66 billion for the fourth quarter.
Total SA said Thursday its earnings were weighed down by $6.5 billion in charges, mainly against the value of oil sands in Canada and unconventional gas fields in the United States.
The latest round of sanctions against Russia over its actions in Ukraine have major energy companies -- including BP and Total -- thinking again about the way they do business with Moscow, The New York Times reports.
Major oil companies including Chevron, BP and Total are cutting or delaying expensive megaprojects because costs are outstripping expected return, and they’re trading blame with oilfield services companies about what’s causing the cost inflation, The New York Times reports.
PARIS (AP) — French energy company Total SA is hooking up with Russia's largest private oil company to explore and develop a huge Siberian shale oil field, despite Western sanctions and anger over the Kremlin's role in Ukraine's crisis.
The deal signed Friday with Russia's Lukoil draws new attention to French economic ties with Russia, and the French government's reluctance to punish Moscow too heavily.
Total says in a statement that the two will set up a joint venture to develop the Bazhenov oil formation in western Siberia, believed to hold some of the world's largest shale oil deposits. It says Lukoil will have 51 percent of the venture and Total 49 percent.
United plans to become the first U.S. airline to operate a regularly scheduled commercial domestic flight using alternative fuels, and also will announce Tuesday a $30 million investment in Fulcrum BioEnergy, The New York Times reports.
Despite Monday’s Supreme Court ruling about the Environmental Protection Agency’s Mercury and Air Toxics Standards rule, Michigan South Central Power Agency and Iowa’s Alliant Energy won’t reverse their decisions to shut coal-fired plants they operate, officials have told Platts.
The U.S. power industry isn't sure what to think about the Supreme Court's ruling on mercury emission standards, with some calling the ruling "significant" and others downplaying its importance to utilities that are already complying, Platts reports.
Coal producers, including Arch Coal, Peabody Energy and Alpha Resources, got a boost in stock prices following the Supreme Court's ruled that EPA should have taken cost into account before pursuing mercury emission regulations, Bloomberg reports.
Crude oil prices slid further on Monday as traders looked to avert risks due to bank shutdowns in Greece and the slip in the deadline in nuclear talks with Iran, Reuters reports. Brent crude fell $1.20 to $62.02 a barrel, while U.S. crude dropped $1.30 to settle at $58.33 a barrel.
The Environmental Protection Agency's forthcoming Clean Power Plan may work to exacerbate already tense in-state relations between lawmakers and regulators, as they work together to develop state compliance plans for the rules, E&E reports.
Melting Arctic ice could work to alter ocean circulation patterns that transfer cold and warm water between the poles and the tropics, a new study in the journal Nature Climate Change says, a development that could shift climate patterns in Europe, The Washington Post reports.
Wildfires have burned more than 1.18 million acres across Alaska this month alone, putting the state on pace to exceed 2004, its worst wildfire season on record, where 6.59 million acres were burned, The Washington Post reports.
Cheniere Energy plans to take on as much as $5.8 billion in debt in order to expand its Sabine Pass liquefied natural gas facility, which last week won additional authorization to export gas to countries without free trade agreements, FuelFix reports.