Gulf Oil Spill Begins To Reach Land As BP Struggles To Contain Leak

North America has seen its share of oil spills of late, including an ExxonMobil pipeline leak in Arkansas  and a Chevron diesel pipeline leak in Utah, both within the first few months of the year.

Canadian Pacific Railway is keeping the trend going. A Canadian Pacific-operated train carrying crude oil from Saskatchewan derailed on Tuesday, spilling more than 500 barrels of oil. The spill is Canadian Pacific’s third in three months, with one in Ontario in March, and in Minnesota in April [Bloomberg].

Shell was grilled by shareholders over its Alaska drilling campaign at its annual meeting yesterday. Mishaps related to the company’s drilling program in the Beaufort and Chukchi Seas, including an accident involving the company’s Kulluk drilling rig, prompted an Interior Department investigation, which found inadequate management of Shell’s Arctic drilling operations.  [FT]

European Union authorities have expanded their oil price manipulation probe with requests for information on how pricing works from trading firms Gunvor, Vitol and Glencore. Regulators conducted inspections of the trading arms of BP, Statoil and Shell last week. No word on which companies are actually targets of the probe. [WSJ]

On a positive note, Noble Energy has made yet another gas discovery in the Levant Basin. The find, at the Karish prospect offshore Israel, could total more than a trillion cubic feet of gas. Gross mean gas resources at Noble’s Levant Basin gas discoveries thus far total more than 35 trillion cubic feet, which is  roughly equal to Oman’s end-2011 total proven natural gas reserves and half of Canada’s.