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BHP names Cutt to succeed Yeager as petroleum unit president

BHP Billiton Ltd., the world’s largest mining company, named diamond unit president Tim Cutt to succeed the retiring Michael Yeager as head of its petroleum division as part of a senior management shakeup.  More »

Keystone fought by Nebraska landowners vowing to block

Bob Allpress describes himself as a “redneck Republican.” Standing on the pasture behind his Nebraska home, the burly former Marine Corps sergeant with a Fu Manchu mustache explains what made him an environmental activist.  More »

Chevron defies California on carbon emissions

Chevron Corp. (CVX) helped write the first-in-the-nation rule ordering reduced carbon emissions from cars and trucks. Its biofuels chief spoke at the ceremony where California Governor Arnold Schwarzenegger signed the executive order in 2007, the same year the oil company pledged to develop a gasoline replacement from wood.  More »

Icahn asks Transocean board to clarify, support claims

Billionaire investor Carl Icahn is asking Transocean Ltd.’s board to “clarify and support” its assertions that the company has produced above-average shareholder returns.  More »

Route change forces Keystone foes to shift aim to climate change

Opponents of the Keystone XL pipeline used to have a simple argument: the project would endanger Nebraska’s delicate Sand Hills region, a vast network of dunes and wetlands that have been designated a National Natural Landmark.  More »

Energy as dirty as 20 years ago on slow climate effort, IEA says

The level of carbon emitted in global energy supplies has barely changed in 20 years amid stalled efforts to curb pollution and increased coal use, the International Energy Agency said.  More »

Parker drilling settles US bribery probes for $16 Million

Parker Drilling Co., a Houston- based oil services company, agreed to pay $15.9 million to settle U.S. allegations it tried to bribe a Nigerian government panel to reduce fines for violating the country’s customs laws.  More »

Ohio’s $500 billion oil dream fades as Utica turns gassy

U.S. drillers that set up rigs amid the rolling farmland of eastern Ohio on projections underground shale held $500 billion of oil are packing up and heading out of the Utica Shale, which isn’t living up to expectations set by top fields like the Eagle Ford in South Texas.  More »

Freeport LNG may get U.S. export approval in months

Freeport LNG Development LP may get expanded approval from the U.S. Energy Department to export liquefied natural gas in the next quarter or two, the head of Baker Botts LLP’s LNG practice said.  More »

Energy Future issues opening salvo as KKR, TPG seek stake

Energy Future Holdings Corp.’s pre- packaged bankruptcy proposal is the opening salvo in talks as KKR & Co. and TPG Capital LP, backers of the largest leveraged buyout, seek to salvage their failed utility takeover and force creditors to accept billions in losses.  More »

Motiva Port Arthur refinery shuts down after power outage

The Port Arthur, Texas refinery lost power Sunday and there isn’t a timeline for restarting the plant, a person familiar with operations said.  More »

US oil boom threatens Russian crude exports

Crude oil exports from the Commonwealth of Independent States may drop 17 percent by 2040 as tight oil production in the U.S. soars, the Russian Academy of Sciences said in a presentation on its website.  More »

Clean energy investment drops worldwide amid subsidy cuts

Clean energy investment slid 22 percent to its lowest level in four years as nations pared subsidies for technologies from wind turbines to solar power and financing in China and Brazil stalled.  More »

Tullow falls after delaying oil well in Ethiopia for two months

Tullow Oil Plc (TLW), the U.K. explorer searching for Ethiopia’s first crude, fell to a four-month low in London trading after delaying the Sabisa well.  More »

Midland counts on 53-story tower as oil again buoys Texas

When clients in Midland, Texas, complained that they couldn’t find office space, hotel rooms or banquet halls, hedge fund co-founder Joseph Jacobs saw a big opportunity.  More »