BP

100506-N-6070S-819 Gulf of Mexico (May 6, 2010) -- Dark clouds of smoke and fire emerge as oil burns during a controlled fire in the Gulf of Mexico. The U.S. Coast Guard working in partnership with BP PLC, local residents, and other federal agencies conducted the "in situ burn" to aid in preventing the spread of oil following the April 20 explosion on Mobile Offshore Drilling Unit Deepwater Horizon. (U.S. Navy photo by Mass Communication Specialist 2nd Class Justin Stumberg/Released)

BP’s long, flammable nightmare is finally over. It has agreed to a record settlement to cash out all of the federal and state claims against it arising from the Deepwater Horizon oil spill. From the Wall Street Journal: BP PLC on Thursday agreed to pay $18.7 billion to settle all federal and state claims arising… Keep reading →

Airlines Face Rapidly Rising Fuel Costs

The EPA have begun the process of regulating greenhouse gas emissions from the largest domestic commercial airlines. “But some fear the ultimate approach may prove too weak. The agency released a proposed “endangerment finding,” meaning that it is suggesting that aircraft engines may “contribute to the air pollution that causes climate change and endangers public health and welfare.” That’s what the… Keep reading →

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The energy industry – oil & gas sector in particular – is bracing itself for a massive wave of retirements over the short to medium term, which has been dubbed “The Great Shift Change.” As the industry prepares for this turnover, companies are looking to the next generation of candidates with skills ranging from finance, geology,… Keep reading →

Duke Energy Buys Progress Energy In $13 Billion Deal

Duke Energy has agreed to provide families in North Caroline with bottled water after state testing found private wells near where the company stores coal waste contaminated with potentially toxic chemicals. “Over the last week, the state’s department of environment and natural resources mailed out 87 letters to residents who live near sites where Duke has stored… Keep reading →

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Political infighting is taking place in Alaska over the state’s hydrocarbon future. This time, however, it’s not over its oil production which has been steadily declining since reaching a peak of over 2 million barrels per day (b/d) in 1988 to a current average of just over 500,000 b/d. Its over the state’s plans to… Keep reading →

CNOOC Drops Bid For Unocal

Insight for Industry – New Offshore Regulations Respond to Key Failure On April 13, 2015, the Department of the Interior’s (DOI) Bureau of Safety and Environmental Enforcement (BSEE) proposed new offshore oil and gas regulations that will cost the industry hundreds of millions of dollars. However, offshore oil and gas producers will have several years… Keep reading →

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

Just a few minutes after BP Group Chief Executive Robert Dudley addressed a CERAWeek luncheon crowd on post-Macondo efforts that have seen the company spend  more than $44 billion on Gulf response and cleanup, I talked with Center for Offshore Safety Executive Director Charlie Williams about the center’s work to increase the safety culture in… Keep reading →

Surging Oil Industry Brings Opportunity To Rural California

Lord John Browne, the former BP chief executive, will head up new oligarch-backed $10bn fund L1 which is buying up energy industry assets while price of oil is low. “John Browne, who was appointed executive chairman of the oligarch-backed L1 Energy group last week, is scouring the industry to snap up assets at knock-down prices,… Keep reading →

BHP Billiton Announces Record Financial Results

British oil major BP issued its annual energy outlook and reported that rising energy demand in the coming decades will cause increasing carbon emissions despite efforts to draw them down. BP projects that the growing global economy will cause energy demand to rise 40% in the next twenty years and two-thirds of the demand will… Keep reading →

Iraqi President Fuad Masum Attends Meetings While In New York For The United Nations General Assembly

Ed. note: This is a new weekly column by Elie Mystal, Managing Editor of Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Iranian Sanctions: You probably know that crude oil prices are ridiculously lower than they were a few… Keep reading →

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