News from the Houston Chronicle energy team

BP shareholders file lawsuit over Gulf spill

Some of BP’s shareholders have filed a class-action lawsuit citing the company’s history of safety lapses, cost cutting and workplace disasters. The suit claims that the company misled investors prior to the Deepwater Horizon accident on April 20. The suit was filed in U.S. District Court for the Eastern District of Louisiana, but seeks to […]  More »

BP to workers: You have the right to not remain silent

A few weeks ago some television crews said they were whisked away from coastal oil spill cleanup scenes, told that BP wasn’t allow the media access. The Coast Guard clarified (and Admiral Thad Allen has since said repeatedly) that the only grounds for keeping media away would be safety or interference with operations. More recently, […]  More »

BP says it can pay the bills

BP said in a regulatory filing this morning it remains financially strong and can handle the mounting costs of the Gulf of Mexico oil spill: Under the current trading environment, we are generating significant additional cash flow. In addition, our gearing is currently below the bottom of our targeted range. Our asset base is strong […]  More »

Chron Energy Newslinks | 06.10.10 | Stock price teeters, turtles in terror.

• BP likely to collect more oil than it can process. • Interior Sec. Salazar defends drilling ban. • BP has until Friday for a backup plan. • BP finds ally in former critic. • Costner touts his spill solution to Congress. • Spill is threatening endangered turtle recovery. • BP stock plunges on new […]  More »

Surprise! EPA shares dispersant data online

Lawmakers have asking for some time for more details of the now-controversial dispersants BP is using to break up the oil in the Gulf of Mexico oil spill. The maker of the main product in use, Sugar Land-based Nalco, was a bit reluctant, claiming the formula is proprietary. But it released the information to the […]  More »

Map of spill, June 10

Map of spill, June 10  More »

Wyoming now requires disclosure of fracking chemicals

Yesterday, Wyoming regulators approved rules requiring oil and gas drillers to disclose chemicals used in hydraulic fracturing — making it the first state to order companies to do so. E&E reported that the Wyoming Oil and Gas Conservation Commission unanimously agreed. Hydraulic fracturing is a controversial industry technique that is often accused of being unsafe […]  More »

Lawmakers implore BP to halt dividend and suspend ads

Dozens of lawmakers today demanded that BP halt its plans to pay dividends to shareholders and suspend a nationwide advertising campaign to buff up its battered image amid the widening oil spill in the Gulf of Mexico. As long as crude continues gushing from BP’s underwater Macondo well, it is not time for “business as […]  More »

Count of injured, dead fish and wildlife

AP Photo/Charlie Riedel The Deepwater Horizon Unified Area Command has released a report detailing the number of injured or dead fish and wildlife encountered in the impacted areas of the Gulf oil spill and it doesn’t look good. The report gives numbers for injured and dead birds, sea turtles, mammals and other animals found in […]  More »

ConocoPhillips sees only small impact on Gulf production

At a panel discussion hosted by RBC Capital Markets yesterday, a ConocoPhillips executive said the company will see a “relatively modest” impact over the next year on its crude supplies as a result of the oil spill in the Gulf of Mexico and moratorium on deepwater drilling. About 100,000 to 150,000 barrels a day of […]  More »

Anadarko says it's not moving rigs yet

Sen. Lisa Murkowski, R-Alaska, today fretted about the economic effects of the federal government’s six-month ban on deepwater drilling, which she said was forcing producers to abandon the Gulf of Mexico for more favorable foreign waters. As evidence, she pointed to news reports that Anadarko Petroleum Corp., was “packing up and moving three of its […]  More »

Kevin Costner at House hearing to talk oil spill cleanup solutions

Kevin Costner is on Capitol Hill today to testify at a House hearing on solutions for cleaning up the oil spill in the Gulf of Mexico. Susan Walsh /AP Click on the picture above to see more of Costner on Capitol Hill. At the House Committee on Science and Technology hearing today, the actor was […]  More »

ConocoPhillips turns eye toward Malaysia

ConocoPhillips is talking with Malaysian energy firm Petronas to expand its position in the country, Reuters said. The company is targeting exploration oil and gas in Malaysia, Ryan M. Lance, senior VP of exploration and production for ConocoPhillips, said. Conoco currently has interests in three deepwater blocks off eastern Malaysia. It also has a joint […]  More »

Salazar wants BP to pay unemployed drilling workers

BP is already cutting checks to out-of-work fishermen and charter boat operators whose business has been devastated by the oil spill, but if Interior Secretary Ken Salazar has his way, the company also will make payments to out-of-work drilling contractors and their on-shore suppliers. Chip Somodevilla/Getty Images Interior Secretary Ken Salazar testifies on Capitol Hill […]  More »

Updated: Drilling safety hearing interrupted by "oily" protest

Offshore drilling opponents have unfurled banners near the White House, defaced BP gas station signs and rallied across the country to protest ocean drilling and the oil spill in the Gulf of Mexico. Today, the protests came to Capitol Hill — and, more specifically, to a packed Senate hearing room — when a Gulf Coast […]  More »