ENOC, owner of 53 percent of Dragon, said it intends to offer 735 pence a share, a premium of 44 percent from March 13, the day before talks were initially disclosed. It plans to meet with Dragon Oil’s shareholders to discuss the proposal.
A federal database shows enforcement cases against the companies resulted in collection of $154,000 in penalties, for violations including not doing enough to prevent pipeline corrosion, failing to inspect valves frequently enough and not preventing lines from being over-pressured.
Former U.S. Senator Don Nickles, who runs a Washington lobbying firm, revised a federal disclosure report about work for Exxon Mobil Corp. to say his company was enlisted to monitor legislative activity related to Iran, not to lobby.
Crude oil prices remain about 44 percent lower than in June even after rebounding somewhat from a six-year low in March. The lower prices have led oil-sands producers in Western Canada to reduce spending by billions of dollars and cut thousands of jobs.
Workers from an environmental cleanup company strapped on boots and gloves and picked up shovels and rakes to tackle the gobs of goo stuck to sand and rocks along Refugio State Beach on the southern Santa Barbara County coast.
Initial estimates put the spill at about 21,000 gallons Tuesday, but that figure would likely change after a Wednesday morning flyover gave a better sense of the spill’s scope, U.S. Coast Guard spokeswoman Jennifer Williams said.
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