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(AFP PHOTO/US COAST GUARD/AFP/Getty Images)

BP loses bid for Transocean insurance in spill case

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The Texas Supreme Court says BP isn’t covered under Transocean’s insurance policy on the project that led to the 2010 Deepwater Horizon disaster.
Categories: Accidents, General
Siemens CEO Joe Kaeser (Getty Images)

Siemens bid for Dresser-Rand faces in-depth EU investigation

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The proposed deal may reduce competition for equipment used by companies active throughout the oil and gas distribution chain, including exploration, storage and refining, the European Commission said in an e-mailed statement today.
(Photographer: Daniel Acker/Bloomberg)

TransCanada profit beats estimates as Keystone leg comes online

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TransCanada’s oil shipments climbed as the company started deliveries last year from Oklahoma to Texas on its Gulf Coast line, the southern leg of the original Keystone XL proposal.
(Photographer: Eddie Seal, Bloomberg)

U.S. rigs are being idled, but the oil boom is not ending

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The industry has become better at blasting crude out of deep underground layers of rock, according to productivity data tracked by the EIA in the major shale prospects.
(Paul O'Driscoll/Bloomberg News)

Shell calls on Big Oil peers to speak up on climate change

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While Shell, along with BP Plc, have led the oil industry in acknowledging climate change as a risk, the producers have avoided forums such as the annual United Nations climate talks.
(AP Photo/Dado Galdieri, File)

Global oil layoffs exceed 100,000

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While much of the focus on layoffs has centered on the U.S., where the shale fields that created the glut have seen the steepest cutbacks, workers in oil-related businesses across the globe are suffering, too
Iranian President Hassan Rouhani pauses before delivering the country's draft budget to the parliament speaker at the parliament in Tehran, Iran, Sunday, Dec. 7, 2014. (AP Photo/Vahid Salemi)

Iran nuclear deal must end all sanctions, Rouhani tells rally

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Rouhani said on Wednesday that since taking office in 2013 his government had been able to escape a “dead end” in its relations with the outside world
(Alexander Klein/AFP via Getty Images)

OPEC producers cut oil prices to Asia in battle for market share

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The cuts come after Saudi Arabia, the largest crude exporter, reduced pricing to Asia last week to the lowest in at least 14 years.
(Carolyn Mary Bauman /Fort Worth Star-Telegram)

Wind company paying first dividend since 2003 in industry rebound

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After slashing 3,000 jobs since 2011 and closing a third of its factories to survive a plunge in turbine prices, Vestas today reported its first full-year profit since 2010.
(AP file photo/George Osodi)

Angola plans 25 percent budget cut as oil revenue plunges

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Oil prices have slumped by more than half since June, threatening producers such as Angola, which relies on crude for almost all of its exports and more than two thirds of government income.