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With no guarantee of an oil-market recovery this year, U.S. drillers will almost certainly have to resort to more unpleasant survival tactics in 2016, including deep spending cuts and some fire sales.
Enbridge Energy will pay the Red Lake Nation in northern Minnesota $18.5 million to settle a nearly decade-long dispute over unauthorized use of a small parcel of tribal land.
Money from the tax — four-tenths of a cent per gallon — is intended as a last-resort fund for owners who cannot afford spill cleanup costs.
The former chief of the now-closed Yukos oil firm told the BBC on Thursday it’s now clear that Putin sees him as “a serious threat.” He said he feels safe in London and is interested in seeking asylum.
The lawsuit alleges that Oklahoma City-based Chesapeake Energy Corp. tricked landowners into signing one-sided leases in the early years of the Marcellus Shale drilling boom and then improperly deducted certain post-production expenses from landowner royalties.
Fracking, or hydraulic fracturing, helped set off an energy boom in Colorado. It also stirred up a fight over the potential dangers to the environment, public health and property values.
Energy companies claim the litigation could cripple oil and gas production in Oklahoma, a state tied to the industry. Regulation proponents say the lawsuits could result in safer drilling practices.
Last week, federal prosecutors dropped 11 counts of involuntary manslaughter against Robert Kaluza and co-defendant Donald Vidrine.
The Israeli electric company sued the Egyptian providers EGPC and EGAS for $4 billion in damages
A judge has thrown out a lawsuit challenging a Nebraska law that allowed the Nebraska governor to approve the proposed Keystone XL oil pipeline route through the state.