A U.S. court ruling that dramatically ramped up BP Plc's potential penalties for the 2010 Gulf oil spill could create new liability risks not just for deep water drillers but also for other industries like mining and nuclear power generation.
Energy
Oil market pricing escapes linkage to financial benchmark regulations
The oil market's price setting agencies have avoided being linked to the kind of regulation trained on financial benchmarks, in a report by international regulators.
PDVSA seeks bids for Citgo in potential $10 billion deal - sources
Venezuela's state-run oil company PDVSA [PDVSA.UL] is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp [PDVSAC.UL] by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
Rosneft struggles to grow as sanctions hit Russia's oil champion
The Kremlin's prized oil firm Rosneft is cutting staff and production and selling stakes in Siberian fields in the strongest evidence to date that Western sanctions are hurting what was the world's fastest growing oil firm in recent years.
With oil under $100, China trader books world's largest ship to store crude
A Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below $100 a barrel.
Latest News
President Abdel Fattah al-Sisi prepared Egyptians on Saturday for more blackouts after lights went out across much of the country this week, saying it would take time and cost the cash-strapped state $12 billion to upgrade the decrepit power grid.
Kurdistan Regional Government's (KRG) Natural Resources Minister Ashti Hawrami on Thursday said it would take more than a year to repair the Baiji Refinery after it was damaged in a series of attacks by Islamic State militants since June.
JPMorgan Chase & Co (JPM.N) is in talks to sell its oil-supply agreement with a major Philadelphia refinery to Bank of America Corp (BAC.N), the Wall Street Journal reported Tuesday, citing people familiar with the matter.
When Charlie Crist last governed Florida, his green energy and climate policies made him few friends among the state's powerful electricity corporations.
Six months ago the U.S. oil industry scored a surprise win against farm groups when the Obama administration proposed slashing the amount of ethanol refiners must blend into gasoline, a move that could save them billions of dollars.
Perth, Australia-based publicly listed firm Liquefied Natural Gas (LNG) Ltd secured $49.5 million in a placement of 90 million shares to its Australian and new US investors at $0.55 apiece for development of its Magnolia LNG facility.
The Japan Aerospace Exploration Agency (JAXA) is planning to start a commercialized space-based solar energy farm that would convert sunlight into electricity in a bid to replace the many nuclear power plants built on earthquake-prone areas.
JX Nippon Oil & Energy Corporation has opened an office in Johannesburg, South Africa that could indicate possible company expansion as the former looks to collaborate with exploration and retail firms.
Reston, US-based online solar marketplace Geostellar secured $1 million through equity crowdfunding on the Return on Change platform to upgrade its business model and employ salespeople who will promote its services to US homeowners.
