BP Plc. (NYSE: BP) won preliminary approval of its proposed $7.8 billion settlement of claims relating to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
Woodside Petroleum Limited (AX: WPL) sold a 14.7 percent stake in its Browse liquid natural gas (LNG) development project for $2 billion to a Japanese joint venture operated by Mitsui & Company Limited and Mitsubishi Corporation, the Australian company announced Tuesday.
BP Plc (BP.L) reported a bigger-than-expected profit drop on the back of a fall in production prompted by the need to sell oil fields to pay for the Gulf of Mexico disaster, raising concerns about the oil group's turnaround plan.
A former BP Plc engineer was arrested and charged on Tuesday with trying to destroy evidence related to how much oil was spilling from the company's broken well in the Gulf of Mexico in April of 2010, the U.S. Justice Department said.
TNK-BP, Russia's third largest oil producer, replied Friday to the government's announcement it would be sued for oil leaks that have polluted two Siberian river basins, saying most of the damage is a result of inherited environmental problems, accumulated since 1962. TNK-BP pointed to its ongoing $500-million cleanup fund as evidence it is committed to greening up some of Russia's oldest facilities
BP Plc (BP.L) said on Wednesday it reached definitive agreements with well over 100,000 private plaintiffs to resolve claims for economic, property and medical damages resulting from the 2010 Gulf of Mexico oil spill.
BP Plc has accused the U.S. government of withholding evidence that may show the 2010 Gulf of Mexico oil spill was smaller than federal officials claimed, a key issue in determining the oil company's liability.
While this is not the first post-Macondo deep water project -- the British supermajor has been working in Brazil and Angola - it is the first on home territory since the April 2010 disaster.
Royal Dutch Shell Plc (NYSE:RDS) signed Wednesday the first-ever production sharing contract with China's state-owned China National Petroleum Corp., or CNPC, as the world's second largest economy seeks to develop its untapped reserves, similar to those that gave rise to the U.S. natural gas boom, with the help of foreign technology.
BP PLC and plaintiffs in the largest lawsuit filed in the wake of the Deepwater Horizon oil-spill disaster in the Gulf of Mexico in 2010 have agreed on the terms of a proposed class settlement, according to an order signed late Friday by the judge handling the case.
British oil giant BP Plc and plaintiffs suing over the 2010 Gulf of Mexico oil spill are discussing a $14 billion settlement that is nearing completion, Bloomberg said, citing three people familiar with the talks.
BP PLC idled production at its Cherry Point refinery in Washington state on Saturday, a day after a large fire broke out near the core crude oil unit of the third-largest plant on the West Coast. The idling of the plant near Ferndale, Wash., could drive fuel prices higher next week.
BP Plc won a court order Wednesday keeping several potentially damaging e-mails out of a scheduled trial to determine responsibility for the 2010 Gulf of Mexico disaster.
Schlumberger Ltd (SLB.N), the world's largest oilfield services company, reported a 36 percent rise in quarterly earnings, beating Wall Street forecasts, but it warned that Europe's debt crisis could hurt economic growth and trim oil demand.
Infosys Ltd cut its full-year revenue outlook because of the debt crisis in Europe, sending down the shares of the No.2 Indian software services exporter by as much as 7.7 percent to their lowest in more than a month.
A Chinese court is allowing a $78 million lawsuit brought against ConocoPhillips (NYSE:COP) to move forward, after having dismissed a similar lawsuit in 2011, the state-run Xinhua News Agency reported Friday. The action is being brought by local aquaculture farmers who believe their sea cucumbers were killed by the oil spill.
U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.5 percent, Dow Jones futures up 0.3 percent and Nasdaq 100 futures up 0.4 percent at 0819 GMT.
The British oil company has alleged that Halliburton destroyed tests results showing unreliable cement was used at the oil rig where an explosion killed 11 workers and caused the region's worst environmental disaster, reported the Houston Chronicle.
The business, which includes pipelines and processing stations that remove valuable crude-like liquids from gas, owns or has rights to about 4,000 kilometers of pipeline systems and 21 million barrels of storage capacity.
After a year of delays, U.S. prosecutors offered their opening arguments Tuesday in Anchorage at a hearing demanding that BP's probation be revoked.
The public relations campaign at end of year 2010 is proving to be a hard one for U.S. oil giant Chevron Corporation. Faced with an oil leak, the suspension of its drilling rights and severe public backlash all in Brazil, the company has now been labeled the most toxic energy company.
State readies a new ad campaign to reverse public opinion severely hurt by the Deepwater Horizon oil spill of 2010.
