Category: Legal issues

Schlumberger: Russian sanctions could affect profits

Schlumberger is the third international oil field services company with Houston operations to warn that U.S. and European Union sanctions against Russian may start hurting profit.  More »

Cobalt falls after SEC Angola case moves forward

The company said it’s cooperating with the SEC and believes its activities in Angola have complied with all laws.  More »

Parnon, Arcadia to pay $13 million in price-rigging suit

Parnon Energy, an oil logistics company, and London-based oil trader Arcadia Petroleum Ltd. agreed to pay $13 million to settle a U.S. regulator’s claims they manipulated oil futures prices.  More »

Regulator alleges Houston oil company misled investors

The Securities and Exchange commission on Monday charged independent exploration and production company Houston American Energy Corp. and its CEO with making false claims about the company’s oil reserves.  More »

BP appeals to Supreme Court on spill settlement

BP wants the U.S. Supreme Court to intervene in a months-long battle over who can get paid for oil spill damages.  More »

Northern Courier Approval Highlights Pipeline Politics

In stark contrast to the continuing delay of the Keystone XL pipeline project, Trans Canada’s Northern Courier pipeline project has gone from initial application to regulatory approval in a mere 16 months. The Northern Courier project is actually two parallel pipelines, one to carry bitumen and another to carry diluent from the Fort Hills mine […]  More »

Feds: BP can’t dismiss lawsuits by blaming drilling moratorium

The Justice Department has joined a fight against BP’s efforts at dismissing lawsuits by deep-water drillers and oil-field service firms alleging damages from the 2010 Gulf of Mexico oil spill.  More »

Enterprise Products ordered to pay $535M in partnership case

A Texas judge ordered Houston’s Enterprise Products Partners to pay $535.8 million to another pipeline operator in a dispute over a partnership to build a crude oil pipeline.  More »

Judge orders Kurdish crude seized if unloaded

A federal judge ordered U.S. Marshals to seize any crude offloaded from an oil tanker anchored off the Galveston coast carrying 1 million barrels of Kurdish crude.  More »

Investors go after Cheniere’s defense of stock grants

Cheniere Energy investors say the company can’t use stock exchange rules to justify $1.86 billion in stock grants they claim were never legally approved by shareholders.  More »

Russia ordered to pay $50 billion over Yukos

An international court on Monday ordered Russia to pay more than $50 billion to the former majority shareholders of now defunct oil company Yukos, ruling that the state engaged in a ruthless campaign to destroy what was once the country’s biggest oil producer.  More »

Texas refiner sues Utah county over pipeline rules

Tesoro Corp. wants to build a 135-mile pipeline to carry crude oil from the Uinta Basin to Salt Lake City refineries.  More »
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