After a year of preparation, oil companies and offshore contractors starting Tuesday must comply with a government mandate requiring broad safety management systems designed to reduce human errors and shrink operational risks.
U.S. auto-safety regulators are examining the safety of lithium-ion batteries that power all plug-in electric vehicles after a General Motors Co. (GM) Chevrolet Volt caught fire, people familiar with the probe said.
Exxon Mobil Corp. (XOM) Chief Executive Officer Rex Tillerson is playing catch-up with a former rival, ex-BP Plc CEO Tony Hayward, in a race to tap oil riches in Iraq’s Kurdish region that dwarf the deep-water Gulf of Mexico.
Oil traded near the highest level in more than three months as Italy started building a new government that may help contain the European debt crisis and Japan reported its first economic growth in a year.
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