A Bill that seeks to amend the existing law governing exploration and production of oil and gas as well as delink petroleum operations from mining operations was passed by the Lok Sabha on Wednesday (March 12, 2025). The Oilfields (Regulation and Development) Amendment Bill, 2024, is aimed at boosting investment …
BP's $4.5 billion settlement of federal criminal charges in the massive oil spill in the Gulf of Mexico off the US coast in 2010 is a record amount, and a significant sum of money. Or, looked at another way, the settlement announced Thursday is less than the $5.5 billion in …
Will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which caused the worst US offshore oil spill ever. US Attorney General Eric Holder …
BP Plc will pay $4.5 billion in penalties and plead guilty to felony misconduct in the Deepwater Horizon disaster, which killed 11 workers and caused the worst U.S. offshore oil spill ever. The settlement includes a $1.256 billion criminal fine, the largest such levy in U.S. history, the oil company …
New Delhi: The single biggest surprise on Sunday was easily S Jaipal Reddy’s transfer from the petroleum ministry, with many viewing it through the prism of his runins with corporate interests. Although the affable Reddy is expected to take up his new assignment at the science and technology ministry on …
The state of Louisiana has asked a federal judge to declare a jury trial to decide on its claim for more than $1 billion from BP Plc to compensate the state for economic losses resulting from the 2010 Deepwater Horizon oil spill. In a filing on Wednesday, Louisiana Attorney General …
Business: Holding out hope for the future of Reliance Industries’ showcase KG-D6 hydrocarbon assets and India’s mining and energy industries, the government and the company have agreed on a development plan for the block, which has seen a precipitous decline in gas output. The RIL-BP consortium can now go ahead …
To focus on increasing gas and oil production U.K.’s BP plc and Reliance Industries Limited (RIL) are going to focus on increasing oil and gas production from their assets in future despite having surrendered nine out of the 21 blocks due to poor prospects. BP, which had bought 30 per …
New Delhi UK's BP plc has relinquished or surrendered 9 out of the 21 oil and gas blocks where it had bought 30 per cent stake from Reliance Industries for USD 7.2 billion, due to poor hydrocarbon prospects. BP had last year bought 30 per cent stake in a total …
New Delhi The Supreme Court on Tuesday approved an arbitral panel comprising its two former chief justices, S P Bharucha and VN Khare, to resolve a dispute between Mukesh Ambani-run Reliance Industries (RIL) and the ministry of petroleum and natural gas over the recovery of cost for developing the eastern …
Panel Gives Conditional Approval For D6 Block, Gas Output Set To Rise New Delhi: The oversight panel for India’s showcase gas field off the Andhra coast gave Mukesh Ambani’s Reliance Industries (RIL) and BP Plc permission to pump over $1 billion into the flagging field, but with the rider that …
RELIANCE-APPROVAL:India has declared three KG D6 discoveries commercial: oil min source A panel of Indian officials, including those from the upstream regulator, have declared three gas discoveries in Reliance Industries KG D6 block as commercial, subject to certain conditions, an oil ministry official told reporters. Reliance's budgeted expenditure on key …
Houston BP and Transocean lacked clear guidelines for key tests to ensure that the ill-fated Macondo well was safely sealed before it ruptured and triggered the 2010 Deepwater Horizon disaster, US safety investigators said. The preliminary report from the US Chemical Safety Board, to be delivered at a public hearing …
New Delhi: British energy major BP Plc has sought a free market pricing regime for natural gas to check India’s growing dependence on imports and prevent investments in the exploration and related oilfield service business moving out of the country. The low domestic gas price set by the government is …
Global energy consumption grew at 2.5 per cent in 2011, less than half the 5.1 per cent rate it attained in 2010, BP said in its annual Statistical Review of World Energy, published on Wednesday. India's energy consumption rose by 7.4 per cent to 559.1 million tonnes of oil equivalent, …
Despite leading in some aspects of green technology, such as solar and wind power, China still faces a fight to reduce its level of emissions. China considers ways of reducing emissions Twenty six newly wed couples held a group wedding on the first day of 2012 in Zhanjiang, Guangdong province, …
Shortly before Thanksgiving in 2010, the leaders of the commission President Obama had appointed to investigate the Deepwater Horizon oil spill in the Gulf of Mexico sat down in the Oval Office to brief him. After listening to their findings about the BP accident and the safety of deepwater drilling, …
BP said Wednesday that it would spend $400 million to install pollution controls at its giant Whiting, Ind., refinery to allow it to process heavy crude oil from Canada, in a deal with federal and state regulators. The consent decree reached with the Justice Department and Environmental Protection Agency also …
A trial to apportion blame and damages for the 2010 Deepwater Horizon disaster will now start in 2013 after the New Orleans judge hearing the case scheduled a new start date. The delay is a boost for BP BP.LN -3.11% PLC, which is facing billions of dollars in fines from …
The U.S. government said a trial to assign blame and damages among BP Plc and others over the 2010 Gulf of Mexico oil spill should not be delayed until after a hearing over a $7.8 billion settlement of private party claims. BP has asked U.S. District Judge Carl Barbier in …
The U.S. Justice Department broke new ground in the case against BP for causing the worst oil spill in the country's history when it brought criminal charges against a BP engineer for obstructing justice by deleting communications regarding the true size of the spill. The engineer, Kurt Mix (51), has …
