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A crude oil drill rig stands in the distance of a single family home under construction in Williston, North Dakota, U.S., on Monday, Feb. 13, 2012. North Dakota will hold its Republican presidential caucus on March 6. Photographer: Daniel Acker/Bloomberg

Real estate crisis emerging in North Dakota’s man camps

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The frenzied drilling that made North Dakota No. 1 in personal-income growth and job creation for five consecutive years hasn’t lasted long enough to support the oil-fueled building explosion.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

BP has big defense against hostile takeover attempt

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potential buyer might be forced to accelerate the payment of up to two thirds of the $18.7 billion in penalties the company agreed to pay the U.S. and several states, according to company filings. As it stands, BP has more than 15 years.
Petrobras, which operates this deep-water platform, is at the center of a corruption probe. Photographer: Rich Press.

Transocean mentioned in Petrobras probe

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A former executive at Brazil’s state-run oil company has testified to receiving what he says were payments made by someone claiming to be a Transocean agent in exchange for a rig- operation contract.
Categories: General, Latin America
(Daniel Acker/Bloomberg)

TransCanada says its cutting one-fifth of its senior management positions

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The reduction in management positions, partly achieved by not replacing retiring workers, follows 185 job cuts announced by the company in June. The company said more reductions are ahead.
(Kristian Helgesen/Bloomberg)

Norway cuts rates to record low to save economy from oil slump

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Governor Oeystein Olsen is easing to unprecedented levels, following colleagues in Stockholm and Frankfurt, as the collapse in oil prices is taking its toll on the $500 billion economy.
BHP Chief Executive Officer Andrew Mackenzie speaks during a news conference in Sydney, Australia. (Ian Waldie/Bloomberg)

BHP CEO Mackenzie sees pay cut nearly in half after commodities collapse

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Supply gluts and forecasts for the slowest growth since 1990 in China have sent the price of raw materials plunging.
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

Total cuts oil output target

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The measures, laid out by the French energy company on Wednesday before an investor day in London, signal that the belt-tightening among global oil producers to protect dividends will extend into 2017 and hurt future growth.
Lawrence Ullmann, a general operator for Baker Hughes, works on the catwalk at an oil rig site on May 22, 2015 in Hallettsville, Texas. (San Antonio Express News)

German firm sues Baker Hughes over steel used underground gas storage field

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The defective equipment represents “a grave risk of harm with potentially catastrophic consequences,” because a rupture might result in the release of natural gas into the atmosphere and a potentially large fire, the Germany company said in the complaint.
A protestor takes part in the "Flood Wall Street" demonstrations and march on September 22, 2104 in lower Manhattan , preceeding the United Nations's "Climate Summit 2014: Catalyzing Action" in New York. AFP PHOTO/Timothy A. ClaryTIMOTHY A. CLARY/AFP/Getty Images

Fossil-fuel divestment movement exceeds $2.6 trillion

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The surge in support for the divestment movement shows growing awareness of the role fossil fuels play in climate change, and growing concern among the general public.
LNG storage tanks are seen at Cheniere's Sabine Pass LNG facility.  (J. Patric Schneider)

Cheniere signs another deal to ship LNG to France

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U.S. natural gas exports mark the strength of a recent production boom. The nation has transitioned from constructing gas import terminals prior to 2008, to become the largest producer of petroleum and natural gas in the world last year, thanks to advances in extracting the fuel from shale deposits.
Categories: LNG