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 …
India Gas Solutions to globally source and market natural gas in India, It will also develop infrastructure for transportation and marketing of the gas. Mumbai, Nov. 18: Reliance Industries and BP have announced the incorporation of India Gas Solutions, a 50:50 joint venture company, to globally source and market natural …
Reliance Industries (RIL) and UK's BP today announced incorporation of India Gas Solutions, a 50:50 joint venture company for sourcing and marketing of natural gas in India. The joint venture is part of the agreement reached in February where BP picked up 30% stake in 23 oil and gas blocks …
BP Plc's U.S. subsidiary has agreed to pay $50 million in civil penalties to the state of Texas for pollution from its Texas City refinery, including the deadly March 2005 explosion, state Attorney General Greg Abbott said on Thursday. The fine is equal to the amount BP Products North America …
Transocean, the owner of the Deepwater Horizon drilling rig that sank in the Gulf of Mexico last year, is planning to take further legal action against BP as it seeks to prove that the British company should be liable for almost all the costs of the disaster. Legal arguments from …
The European Union Thursday unveiled draft plans to regulate offshore oil and gas across the bloc and guard against a repeat of BP's catastrophic Gulf of Mexico spill as firms drill deeper to tap remaining reserves. The proposals are the first attempt to regulate the offshore industry across the 27-member …
Canada warned on Sunday it will "defend its interests" if the European Union (EU) goes through with a proposal to rank Canadian oil sands as a highly polluting fuel. In a letter to EU Energy Commissioner Guenther Oettinger, Canadian Natural Resources Minister Joe Oliver also said the European Commission's Fuel …
Exxon Mobil Corp., BP PLC and Eni SpA will spend around $100 billion to upgrade three oil fields in southern Iraq, an Iraqi official said. Thamer Ghadhban, the top energy adviser to Iraq's prime minister, said about $50 billion would be spent to upgrade the big West Qurna Phase 1 …
The British oil company BP said Monday that a partner in the well that exploded last year in the Gulf of Mexico, Anadarko Petroleum, had agreed to pay $4 billion to settle claims related to the ensuing oil spill. The settlement ends a long dispute between BP, which operated the …
BP will be allowed to participate in an upcoming U.S. offshore oil and gas lease sale despite its role in the largest offshore oil spill in U.S. history, a top government regulator said on Thursday. Michael Bromwich, head of the newly formed Bureau of Safety and Environmental Enforcement, said his …
No oil is leaking from the sunken Deepwater Horizon drilling rig or pipe around the vessel, its owner Transocean said on Wednesday. A two-day underwater investigation by Transocean and the U.S. Coast Guard confirmed that no oil is leaking from the Deepwater Horizon, which sank in April 2010 in the …
The Interior Department formally cited BP and its two chief contractors on Wednesday for numerous safety and environmental violations in the operation of the doomed Deepwater Horizon well. The citations, which could lead to millions of dollars in fines, arose from an investigation of the April 2010 explosion that killed …
BP PLC Thursday reaffirmed its commitment to developing oil and gas resources in the U.K. North Sea by announcing a £4 billion ($6.30 billion) investment in the giant Clair field, as the British oil producer devotes its highest-ever annual investment to its home market. BP's U.K. investment, which will stand …
Auburn University researchers said oil mats submerged in the seabed more than a year after the biggest oil spill in U.S. history pose long-term threats to coastal ecosystems across the northern Gulf of Mexico. The study, released on Tuesday by the school's engineering department, showed that tarballs churned to the …
There is expected to be intense bargaining over the size of any payment concerning the Deepwater Horizon blast Mistakes made by other companies on the Deepwater Horizon drilling rig do not affect BP’s potential liability for gross negligence in the Macondo disaster last year, US legal experts have said, keeping …
BP, running weeks behind schedule and tens of millions of dollars over budget in trying to complete its troubled Macondo well in the Gulf of Mexico, took many shortcuts that contributed to the disastrous blowout and oil spill there last year, federal investigators concluded in a report released on Wednesday. …
Clean-up: ships tackle the leak near Penglai 19-3, operated by ConocoPhillips. Maritime regulators have 'thrown the book' at the US group Clean-up: ships tackle the leak near Penglai 19-3, operated by ConocoPhillips. Maritime regulators have 'thrown the book' at the US group An oil spill off the coast of China …
US oil-services giant Halliburton said Friday that it was filing a defamation lawsuit against BP over the devastating 2010 oil spill in the Gulf of Mexico. “Halliburton… filed claims against BP in Texas state court for negligent misrepresentation, business disparagement and defamation related to the April 20, 2010, Macondo incident,” …
Exxon Mobil Corp and Rosneft signed an agreement to extract oil and gas from the Russian Arctic, in the most significant U.S.-Russian corporate deal since President Barack Obama began a push to improve ties. The pact, which includes an option for Rosneft to invest in Gulf of Mexico and Texan …
British oil major BP has completed the acquisition of 30 per cent stake in 21 oil and gas production sharing contracts operated by Reliance Industries Ltd. Despite the fact that stake sale in two more blocks is still awaiting government approval, the valuation will not be adjusted and will amount …
Exxon Mobil Corp and Rosneft signed an agreement to extract oil and gas from the Russian Arctic, in the most significant U.S.-Russian corporate deal since U.S. President Barack Obama began a push to improve ties. The pact, which includes an option for Rosneft to invest in Gulf of Mexico and …
