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.
Major oil companies like Royal Dutch Shell and BP have joined environmental groups in backing carbon tax proposals, but their motivation lies in the boost such plans would give to their natural gas business, The Wall Street Journal reports.
A federal judge ruled Monday that Anadarko Petroleum Corp. must pay $159.5 million in fines for its share in the Macondo well blowout in the Gulf of Mexico in 2010, less than the amount the government was seeking and a fraction of what BP has had to pay, FuelFix reports.
As the permitting process gets underway for Northshore Mining Company’s requested expansion of a taconite mine in northeastern Minnesota, Native American tribes and environmentalists are concerned about the lack of limits for the levels of metals in water leaving the area, MinnPost reports.
The Alberta Securities Commission has ruled that Canadian Oil Sands Ltd. shareholders have until Jan. 4 to decide on a hostile takeover bid from Suncor Energy Inc., a month later than the deadline that Suncor had tried to impose, The Wall Street Journal reports.
A report from the Intergovernmental Panel on Climate Change says that since 1993, sea levels have been rising an average of 3.2 millimeters a year, nearly twice the rate seen during the 20th century, The New York Times reports.
A paper published in the journal Nature Climate Change identified 164 organizations and 4,556 individuals affiliated with them as the primary drivers of doubt in the U.S. over climate science, Bloomberg reports.
Republican presidential candidate Sen. Rand Paul has included in his regularly issued “Waste Report” a grant of $450,000 from the Department of Energy for a video game designed to make students more aware of the effects of climate change, The Hill reports.