Activists question safety waiver grants, revolving door between industry and regulators. This week, a fracture in an Enbridge Energy pipeline released nearly a million gallons of oil into a tributary of the Kalamazoo River in Battle Creek, Mich.
Oil prices extended three-month highs towards $US82 today, tracking gains in Asian equities following strong bank earnings and upbeat manufacturing data for industrialised economies a day earlier.
Plans by BP to begin drilling for oil off Britain’s Shetland isles and the Libyan coast within weeks are facing growing opposition in the wake of the disastrous Gulf of Mexico oil spill.
More than 2,000 miles from the Gulf of Mexico shoreline, a panel of U.S. judges heard arguments from lawyers on Thursday on how piles of oil spill-related lawsuits against BP Plc should be merged.
Four of the world’s biggest oil companies are expected to announce Thursday the formation of a rapid-deployment response system that will be made available to capture and contain future deep-water well blowouts, according to a document detailing the proposal.
BP Plc rose in London trading after agreeing to sell oil and gas fields in the U.S., Canada and Egypt to Apache Corp. for $7 billion, raising cash to meet the costs of the Gulf of Mexico spill.
International Monetary Fund warned that the greatest dangers facing the countries of the Gulf Cooperation Council, limited the possibility of slowing the pace of global economic growth and can produce it from crude oil prices remain at low levels for a long time. He called on Member States to focus as a top priority in the short term, to support their financial sectors as a hedge against possible negative consequences of sovereign debt crisis in developed countries.
BP has announced that it has signed a new agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to develop the significant hydrocarbon resources in the North Alexandria and West Mediterranean Deepwater concessions.
Iran is considering switching to the United Arab Emirates’ dirham from the euro for its oil sales to Europe to limit the impact of new sanctions, International Oil Daily reported, citing two unidentified industry executives.
BP vice-president says pressure is holding inside cap, but US president Barack Obama warns against premature celebration
