BP’s application to drill in the Great Australian Bight has been rejected after it fell short of environmental standards. [The Guardian]

The sixty percent decline in oil prices in the past year has put a damper on energy sector mergers-and-acquisitions, except in a couple of cases within the sector. [Forbes]

Energy Transfer Partners LP has agreed to sell wholesale fuel and retail marketing assets for about $2.23 billion to its affiliate Sunoco LP. [Bloomberg]