Monthly Archives: June 2010

Will BP spill give natural gas a bounce?

BP’s massive oil spill in the Gulf of Mexico should be a reminder of the risks that come with America’s over-reliance on crude oil and the start of a shift toward making natural gas a bigger part of the nation’s energy mix, the CEO of the nation’s second-largest natural gas producer said Thursday. “Hopefully, it […]  More »

Industry groups form oil spill task forces

Three industry groups have formed two new task forces to address oil spill preparedness and response. The task forces, formed by the National Ocean Industries Association, Independent Petroleum Association of America and American Petroleum Institute, will review current surface and subsea spill response activities in the Gulf of Mexico and will make recommendations on how […]  More »

*Updated* Gulf Coast officials chafe at drilling ban

Gulf Coast officials testifying on Capitol Hill today added their voices to a growing chorus warning that the administration’s ban on deep-water drilling and new rules that will delay exploration in shallower depths threaten U.S. jobs tied to the industry. Mark Cooper, the director of Louisiana’s homeland security and emergency preparedness office, warned that the […]  More »

Jury awards $82 million in Texas gas blast death

A Houston jury has awarded $82.5 million in damages to the family of man who died in a 2007 explosion at a natural gas processing plant in Hood County. Joshua Wade Petrie, a 27-year-old Mineral Wells man, died from injuries suffered when a hot oil heater exploded on May 25, 2007. If the jury award […]  More »

Ensign: Dip execs in oil

When Gulf Coast leaders today complained about sluggish decision making by disconnected and stoic officials directing oil spill cleanup operations, Sen. John Ensign, R-Nev., offered some eye-opening advice. “Maybe when you have trouble getting something approved, we should just put some BP executives in the oil until they approve it,” he suggested during a Senate […]  More »

BP agrees to expedite spill claims

BP will expedite claims to Gulf Coast businesses and residents affected by the massive oil spill after many complained that the process was sluggish and unfair. Adm. Thad Allen, coordinator of the government’s response to the spill, said this morning that BP agreed to federal officials’ request, in a meeting Wednesday, that they make the […]  More »

Logo design website wants you to redesign (villify) BP's logo

LogoMyWay, a website that lets people submit ideas to people looking for custom designs, has started a contest for a BP logo redesign. The three things the new logo has to communicate are: oil spill disaster, death of wildlife and incompetence (We don’t think LogoMyWay likes BP). The contest is open to anyone who wants […]  More »

Halting BP dividend payouts: What about the retirees?

While lawmakers and President Barack Obama continue to press BP to suspend dividend payments until all costs of cleanup and liabilities in the Gulf are paid, some shareholders are worried what that will do to their pensions. As Bloomberg notes, by demanding BP halt dividend payments people are choosing the side of fishermen over retirees. […]  More »

Gulf Coast officials: "We're at war here"

Louisiana parish leaders are making an emotional plea today for a more efficient response to the oil penetrating marshes and shoreland across the Gulf Coast, with officials saying they are stymied by a sluggish, byzantine approval process in a war against the advancing crude. The regional leaders are sharing their complaints in a Senate Homeland […]  More »

UK government ready to help with Gulf spill

British Prime Minister David Cameron said today that the government is ready to help BP with cleanup efforts in the Gulf. Cameron told reporters he has a series of meetings, telephone calls and other contacts with President Barack Obama coming up and is sure that the BP spill will be discussed, Reuters said. “This is […]  More »

BP shareholders file lawsuit over Gulf spill

Some of BP’s shareholders have filed a class-action lawsuit citing the company’s history of safety lapses, cost cutting and workplace disasters. The suit claims that the company misled investors prior to the Deepwater Horizon accident on April 20. The suit was filed in U.S. District Court for the Eastern District of Louisiana, but seeks to […]  More »

BP to workers: You have the right to not remain silent

A few weeks ago some television crews said they were whisked away from coastal oil spill cleanup scenes, told that BP wasn’t allow the media access. The Coast Guard clarified (and Admiral Thad Allen has since said repeatedly) that the only grounds for keeping media away would be safety or interference with operations. More recently, […]  More »

BP says it can pay the bills

BP said in a regulatory filing this morning it remains financially strong and can handle the mounting costs of the Gulf of Mexico oil spill: Under the current trading environment, we are generating significant additional cash flow. In addition, our gearing is currently below the bottom of our targeted range. Our asset base is strong […]  More »

Chron Energy Newslinks | 06.10.10 | Stock price teeters, turtles in terror.

• BP likely to collect more oil than it can process. • Interior Sec. Salazar defends drilling ban. • BP has until Friday for a backup plan. • BP finds ally in former critic. • Costner touts his spill solution to Congress. • Spill is threatening endangered turtle recovery. • BP stock plunges on new […]  More »

Agreement opens Shah Deniz gas export routes

June 10,2010 –Statoil says the signing of a Memorandum of Understanding earlier this week between Azerbaijan and Turkey will help advance the next development phase of the Shah Deniz project in the Caspian Sea…..  More »
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