Judge denies BP request to oust oil spill claims boss
A federal judge on Monday refused to oust the claims administrator in charge of dispensing BP’s oil spill settlement money to Gulf Coast claimants, despite BP’s criticisms in recent months. More »
Transocean expects $2.76 billion in writedowns
Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling. More »
Court reaffirms BP is liable in Gulf oil spill
BP is facing $18 billion in penalties stemming from the 2010 oil spill. More »
Plains to buy half of BridgeTex in $1.1 billion deal
The pipeline is a major artery for the basin with a capacity of 300,000 barrels per day of crude. More »
Commentary: Is the Deepwater Horizon movie a good idea?
The movie based on the BP Deepwater Horizon oil disaster starring Mark Wahlberg is set for release Sept. 30, 2016. More »
Hercules Offshore to lay off 324 workers
Houston-based drilling rig contractor Hercules Offshore has told Texas regulators it will lay off 324 employees as it shuts down four rigs in the Gulf of Mexico. More »
Statoil suffers first loss on oil-sands project, crude drop
Statoil ASA, Norway’s biggest energy company, reported its first quarterly loss since listing in 2001 after writing down the value of an oil-sands project in Canada and struggling with plunging crude prices. More »
Calls for $100-a-barrel oil show many betting on rebound
Higher prices will be back soon enough because the current slowdown in demand growth will prove fleeting, many in the market are saying. More »
Hess announces plans to proceed with $6 billion Gulf project
The announcement comes at a time when many observers have questioned what sliding oil prices will mean for the future of the oil industry. More »
BP CFO: $70 oil would threaten Big Oil projects
The Big Oil industry’s prized projects won’t face major cuts unless oil prices fall below $70 a barrel, BP’s chief financial officer told investors on Tuesday. More »
Researchers find oil footprint from 2010 Gulf oil spill
New research is shedding more light on the fate of the crude that gushed out of BP’s failed Macondo well in 2010.
More »
Key testimony in BP oil spill ruling wasn’t excluded, DOJ says
That evidence played prominently in the judge’s finding that BP, owner of the Macondo well, was grossly negligent, a ruling that raises the stakes for the oil major More »
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