Thwarted on US oil pipeline, Canada looks to China

The latest chapter in Canada’s quest to become a full-blown oil superpower unfolded this month in a village gym on the British Columbia coast.  More »

BP emails reveal company veiling spill rate

On the day the Deepwater Horizon sank in the Gulf of Mexico, BP officials warned in an internal email conversation that if the well was not protected by the blow-out preventer at the drill site, crude oil could burst into the Gulf of Mexico at a rate of 3.4 million gallons a day, an amount a million gallons higher than what the U.S. government ultimately estimated spilled daily from the site.  More »

Oil price wavers on Persian Gulf supply concerns

Iranian leaders are scheduled to debate the ban Sunday in response to EU plans to embargo Iran’s oil by summer because of that country’s nuclear program. Investors  More »

US Embassy: US citizen kidnapped in Nigeria freed

A U.S. citizen kidnapped by gunmen in Nigeria’s oil-rich southern delta has been freed after a week in captivity, the U.S. Embassy said Friday.  More »

Eastman Chemical buying Solutia for about $3.38B

Specialty chemical company Eastman Chemical Co. is buying Solutia Inc. in a cash-and-stock deal valued at about $3.38 billion to broaden its presence in the Asia Pacific region and other emerging markets while expanding its product offerings.  More »

Chevron 4Q profit falls 3 pct on refinery decline

Chevron says its net income slipped 3.2 percent in the fourth quarter as its refineries struggled to pass on the higher cost of crude oil.  More »

Oil, gas industry opposes use of word ‘fracking’ for method

A different kind of F-word is stirring a linguistic and political debate as controversial as what it defines.  More »

Judge says BP contract gives partial shield to Transocean

U.S. District Judge Carl Barbier ruled Thursday, however, that Transocean is not exempt from paying punitive damages and civil penalties.  More »

Natural gas price falls after supply report

The U.S. had 3.1 trillion cubic feet of natural gas in storage — a level that’s 21.4 percent higher than the five-year average.  More »

FirstEnergy closing 6 coal-fired power plants

FirstEnergy Corp. said today that new environmental regulations led to a decision to shut down six older, coal-fired power plants in Ohio, Pennsylvania and Maryland, affecting more than 500 employees.  More »

NY court: Judge can’t block $18B Chevron judgment

A judge overstepped his authority when he tried to ban enforcement around the world of an $18 billion judgment against Chevron Inc. for environmental damage in Ecuador, a federal appeals court said.  More »

Texas says more than enough water for gas drilling

A Texas task force has determined a South Texas aquifer has enough water to support oil and gas production as well as more conventional residential and commercial uses.  More »