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 …
ExxonMobil has formed an Arctic exploration partnership with Rosneft, the Russian state oil company, in a strategic coup over rival BP. In return, Exxon, the world’s largest oil company by market capitalisation, will give the state-controlled Russian group minority stakes in projects in the US Gulf of Mexico, in onshore …
Sixty per cent of rigs contracted in the Gulf of Mexico are not working almost a year and a half after the Macondo disaster. Industry participants are meeting on Tuesday with regulators to speed up permitting in the world’s most productive deepwater and oldest shallow-water basin, which was temporarily halted …
Plaintiff lawyers claimed a victory on Friday when a federal judge overseeing hundreds of lawsuits against BP and others over last year's big oil spill in the Gulf of Mexico allowed much of the case to move ahead, including punitive damages claims. "We are very pleased with the ruling," said …
A subsidiary of ConocoPhillips said it has started evaluating the impact of its oil spill in China's northern Bohai Bay on the marine environment, but has not yet received any claims for the incident. State media have said fishermen in northern China's Hebei Province were preparing to sue ConocoPhillips for …
Victims of BP's disastrous oil spill in the Gulf of Mexico have received more than $5 billion in compensation since a fund was set up a year ago, officials said. The money has gone to 204,434 individuals and businesses, mainly in the five-state Gulf region: Alabama, Florida, Louisiana, Mississippi and …
The Indian Institute of Management-Ahmedabad (IIMA) will launch the Indian Fund for Sustainable Energy (INFUSE) with an estimated fund size of Rs 100 crores in collaboration with the Union Ministry of New and Renewable Energy (MNRE), Technology Development Board (TDB) and British Petroleum(BP). The Union Minister for New and Renewable …
BP Plc has paid out more than $5 billion to 204,434 victims of last year's massive Gulf of Mexico oil spill, fund administrator Kenneth Feinberg said on Tuesday. The payouts amount to roughly 25 percent of the $20 billion fund, known as the Gulf Coast Claims Facility, which was set …
Before the rebellion broke out in February, Libya exported 1.3 million barrels of oil a day. While that is less than 2 percent of world supplies, only a few other countries can supply equivalent grades of the sweet crude oil that many refineries around the world depend on. The resumption …
Making good on a promise, the Interior Department announced Friday that it had scheduled its first sale of offshore oil leases in the Gulf of Mexico since the Deepwater Horizon disaster last year. But it is changing some of the rules to ensure that leased parcels are actually drilled and …
Britain's worst oil spill for over a decade appeared to be entering its final stages, as the leak from Royal Dutch Shell's faulty North Sea pipeline slowed to a trickle. "The rate of leakage from the flowline to the Gannet platform continues to decline and currently stands at less than …
Petrobras, Brazil’s state-run oil company, plans to almost triple its share of the country’s ethanol production by 2015, staking its claim to one of the world’s leading alternative energy markets. Foreign oil companies such as Shell and BP have piled into the industry this year, vying for an ever greater …
A spill of about 200 gallons of an oil-water mixture has prompted a temporary shutdown of an oil-separation facility at the BP-operated Prudhoe Bay oil field, the Alaska Department of Environmental Conservation reported on Monday. The spilled material amounts to about 70 percent produced water and 30 percent crude oil, …
BP Plc has not yet applied for permission to drill its first new Gulf of Mexico oil well since the 4 million-barrel Macondo spill a year ago, the oil major said on Tuesday, although it received permission this month to plug an old well. The London-based company said it hoped …
BP Solar is closing its U.S. manufacturing facility and will refocus is business on developing solar power projects rather than making panels for them, a company spokesman said on Thursday. The Frederick, Maryland, facility had not been producing solar modules since last year, yet 80 employees remained at the office. …
BP reported yet another pipeline leak at its Alaskan oilfields, frustrating the oil giant's attempts to rebuild its reputation after the Gulf of Mexico oil spill. BP said on Monday that a pipeline at its 30,000 barrel-per-day Lisburne field, which is currently closed for maintenance, ruptured during testing and spilled …
BP said on Friday that it was changing its deepwater drilling standards in the Gulf of Mexico as it seeks to repair its reputation and resume offshore operations after the disastrous oil spill last year. Robert Dudley, the chief executive of BP. The company said better supervision would help prevent …
BP has tried to reassure the US authorities about its reputation as a safe operator by promising tougher drilling standards in the Gulf of Mexico, going beyond the minimum legal requirements. The British oil group, scarred by the aftermath of the Deepwater Horizon disaster, wants permission to resume drilling in …
Thousands of baby pelicans grunt and hiss at their parents in tightly packed nests on Gaillard Island, a feathered paradise situated off the coast of Alabama. The 1,300-acre, man-made island is hosting more than 50,000 birds this summer as nesting pairs gather to raise babies. That number would be considered …
With Cuba preparing to explore for oil 60 miles from Florida, the complicated politics of U.S.-Cuba relations are impeding U.S. efforts to get ready in case of a BP-style accident, analysts and oil experts said. The Obama administration must do more to ensure that U.S. companies can quickly mobilize safety …
The fund BP set up to deal with compensation claims after last year's Gulf of Mexico oil spill is working too slowly, U.S. Attorney General Eric Holder said on Thursday. The fund is not sufficiently transparent and requires too much documentation from claimants, said Holder after a visit to Orange …
