With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
BHP Billiton Ltd. will pay $25 million to settle U.S. Securities and Exchange Commission claims that it violated the Foreign Corrupt Practices Act when it sponsored the attendance of foreign government officials at the 2008 Summer Olympic Games in Beijing.
BHP Billiton is preparing to export a processed, ultra-light oil overseas without the government’s explicit authorization — a move likely to be mimicked by other energy companies eager to sell crude to foreign buyers.
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