BP has reported a $5.8 billion loss in the second quarter, mostly from the costly settlement over the 2010 Gulf of Mexico oil spill. [The NY Times] The Senate Energy and Natural Resources Committee began its debate over the broad bipartisan energy bill, with potential conflicts already emerging. [The Hill] The UAE will raise gasoline prices… Keep reading →
A partnership led by Marathon Petroleum Corp. will buy MarkWest Energy Partners LP for $15.8 billion in one of the biggest oil-patch deals since crude prices have slumped. “The deal will marry Marathon’s oil pipeline network with MarkWest’s business separating natural gas into fuels such as propane and ethane. The combined company would have a… Keep reading →
On July 2, 2015, BP reached an agreement in principle with five Gulf States to settle claims against the company arising from the Deepwater Horizon oil spill in 2010.
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 →
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 →
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 →
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 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 →
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 →
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 →
