TransCanada’s CEO Russ Girling says they are not giving up on the Keystone XL Pipeline project and neither are producers seeking to ship their product through the line. The economic rationale of transporting oil via pipe rather than rail underpins the project and Girling is confident “the oil market transcends politics.” [The Hill]

Eike Batista’s OGX filed for bankruptcy in a Brazilian court, highlighting the urgency of the struggling billionaire’s financial situation. “If the court approves the request, OGX will have 60 days to come up with a corporate restructuring plan. The company’s creditors, which include the California-based bond fund Pacific Investment Management Co (PIMCO), and U.S.-based investment fund BlackRock Inc, will then have 30 days to endorse or reject the plan.” [Reuters] And while OGX races to start production from one of its offshore fields in order to generate critically-needed revenue, the Brazilian oil and gas regulator could confiscate the company’s assets. [Financial Times]

Panasonic is introducing a solar-powered lantern and cell phone charging station designed for developing nations with limited access to electricity. “The lantern can be charged in about six hours and then it offers six hours of use at the maximum brightness setting and up to 90 hours at the lowest setting…The USB dock can charge a cell phone in two hours and a fully charged battery can charge a cell phone once or twice.” [treehugger]