Cabinets From Both UK And Scottish Governments Meet In North East Scotland

The US EPA lifted a ban that prohibited BP from bidding on new leases in the Gulf of Mexico. BP was suing the EPA because of the ban. The British oil major may now participate in a lease sale being held this Wednesday. “After a lengthy negotiation, BP is pleased to have reached this resolution, which we believe to be fair and reasonable,” said John Mingé, chairman and president of BP America. “Today’s agreement will allow America’s largest energy investor to compete again for federal contracts and leases.” [New York Times]

Russian forces took control of a natural gas terminal in Ukraine’s Kherson region on Sunday. It appears Russia took over the facility in order to ensure its continued operations and prevent Ukrainian opposition forces from cutting power to parts of Crimea. “The more provocative move, however, was the seizure of the gas terminal in the Kherson region near a town called Strelkovoye, which drew new threats of a military response from the Ukrainian government. Until now, it has refrained from responding in force to Russian actions, but it sent troops Saturday to surround the gas terminal, according to a Ukrainian news service quoting local police, though there were no immediate indications of any shots being fired.” [New York Times]

Russian investors agreed to purchase RWE’s Dea oil and gas unit. “The sale values Dea at about 5.1 billion euros ($7.1 billion), including debt, RWE, Germany’s largest power generator, said in a statement yesterday. The deal is the first for LetterOne, the group set up by Fridman and co-investor German Khan to invest some proceeds from the sale of a 25 percent stake in the TNK-BP oil venture.” [Bloomberg News]