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Gas prices are displayed at a Hess station in Hoboken, N.J. The price of oil has declined to its low for the year on continued doubts about Europe's ability to pay off massive government debts. Benchmark U.S. crude lost $1.57 to $94.56 per barrel in New York. It dipped to $93.65 per barrel earlier Monday, May 14, the lowest since mid-December. (AP Photo/CX Matiash)

Hess to add two Elliott directors if company slate elected

Hess Corp. will add two directors from dissident shareholder Elliott Management Corp.’s board nominees if the company’s five candidates are elected on May 16, calling it a “resolution to end” a divisive proxy contest.
Atlanta Businessman Ted Turner gains funding for his solar ambitions, while Atlanta-based Southern hedges against the risk of clean power biting into a business based largely on burning fossil fuels across its four-state region. Photographer Jay Mallin/Bloomberg

Ted Turner taking coal funds to create solar odd couple

They’re unlikely business partners: a billionaire environmentalist and one of the largest coal-burners in the U.S.
Categories: Coal, Solar
Michael Talbert   Chairman of Transocean Inc.

Transocean Chairman Talbert to step down amid fight with Icahn

Transocean Ltd. (RIG), the world’s largest offshore oil rig contractor, said Chairman Michael Talbert plans to step down as the company fights board nominees from billionaire investor Carl Icahn.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

BNY Mellon appeals ruling on Chesapeake’s early bond call

Bank of New York Mellon Corp., the world’s biggest custody bank, is appealing a ruling allowing Chesapeake Energy Corp. (CHK) to proceed today with redeeming $1.3 billion in bonds six years early at 100 cents on the dollar.
(AP Photo)

Brent pressured by US tripling crude to Canada

By Dan Murtaugh Bloomberg News U.S. oil exports are poised to reach the highest level in 28 years as deliveries to Canada more than triple, helping bring down the price of the global benchmark Brent crude relative to U.S. grades. The shipments will rise to at least 200,000 barrels a day by the end of […]
Apache Corporation operates in the Gulf of Mexico. (Apache Corp.)

Industry’s top safety offenders targeted in Democrats’ report

Oil and gas producers including Apache Corp. and Chevron Corp. that reported the most environmental and safety incidents prior to the April 2010 spill continue to have the most violations, according to the analysis by the Democratic staff on the House Natural Resources Committee.

OPEC crude production rises to five-month high on Saudi increase

OPEC boosted crude output in April to the highest in five months as Saudi Arabia increased production, helping lower oil prices amid concern that global economic growth is slowing.
Categories: Crude oil, Production

Chevron wins suit against U.S. over California oil field

Chevron Corp. (CVX) is entitled to unspecified damages against the federal government in a contract dispute over oil deposits in California worth $37 billion, the U.S. Court of Claims ruled.
Categories: Legal issues
A BHP Arkansas natural gas project  using Superior Energy Services' CATS automated technology for various completion components.

Platts says some companies stopped sharing gas-prices

Platts, the energy information provider owned by McGraw-Hill Cos., said that some companies have stopped providing its reporters with the natural gas pricing data it uses to compile its indexes.
Categories: Natural gas
(Photo: Dan X. McGraw)

McDermott shares fall after earnings miss

The company said it sees “near-term challenges.”

Categories: General