RIO DE JANEIRO (AP) — A consortium including Shell, Total, two Chinese firms and Brazil's state-run petroleum company Petrobras won the right to develop an offshore field that could hold up to 12 billion barrels, Brazil's government said Monday.
PARIS (AP) — French oil company Total said Friday that its net profit fell 58 percent in the first quarter after it took a heavy loss to pull out of a Canadian project it said was no longer worth the investment.
Christophe de Margerie, chief executive of Total, and Charles Pasqua, former French interior minister, appeared in court today for corruption charges stemming from the United Nations oil-for-food program in Iraq, Reuters reports.
Iraq has asked French oil giant Total S.A. to choose between working with the self-ruled northern Kurdish region or to quit developing one of the major oil fields in southern Iraq.
Last month, Total said it signed a deal with the Kurds to search for oil in two areas, defying Baghdad. Iraq's central government insists the country's energy resources should be managed on a national level.
Pioneer Natural Resources is the second U.S. firm, after Enterprise Products, to begin exploring how to take advantage of the end of the U.S. oil export ban and could begin shipments by the middle of next year, The Hill reports.
Two competing initiatives designed to give Florida residents a constitutional right to rooftop solar energy are running out of time without enough signatures yet to make next November's ballot, the Naples Daily News reports.
SolarCity CEO Lyndon Rive joined Sen. Charles E. Schumer in Buffalo this week to call the five-year extension of a federal tax subsidy "super important" to the continued growth of the solar power industry, The Buffalo News reports.
Continued concerns about oversupply forced oil prices downward early Wednesday, nearing an 11-year low already reached once this week. London Brent fell 31 cents to $37.05 a barrel while U.S. crude remained unchanged at $37.50, Reuters reports.
A group of researchers at MIT, the University of California-Berkeley, and the University of Colorado have developed a new computer microchip that uses optical technology and creates the potential to make future computer data centers more energy efficient, the journal Science reports.
A Japanese court on Thursday rejected safety concerns and approved letting Kansai Electric Power, the country's second biggest utility, restart four nuclear reactors shuttered since the 2011 Fukushima disaster, Reuters reports.