Oil industry trade groups blasted the Obama administration’s plan to adopt a “targeted leasing” approach to selling drilling rights in Arctic waters near Alaska, saying it would dissuade companies from bidding on the acreage. More »
Iran indirectly challenged OPEC kingpin Saudi Arabia on Wednesday, announcing that it plans to pump as much oil as it can once sanctions on its crude exports are lifted, even if its extra output drives prices into the basement. More »
Baker Hughes, the world’s third largest oilfield services provider, is reducing its workforce in Brazil after losing contracts with Petroleo Brasileiro SA to competitor Halliburton Co., an oil union said. More »
A group of manufacturers argued Tuesday that the U.S. government is moving too slowly to approve new export facilities for natural gas and coal, potentially exposing the nation to legal action from members of the World Trade Organization. More »
BP picked up new allies in its fight against a suspension from new government contracts, as oil industry and business groups filed a legal brief labeling the punishment an “overreach” by the Obama administration. More »
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