BP will pay $340 million toward the up to $1 billion the company agreed to pay in early restoration projects in states impacted by the 2010 Gulf of Mexico oil spill, Republican U.S. Sen. David Vitter of Louisiana said Tuesday. More »
A judge has ordered BP to turn over to the U.S. government and Transocean some previously withheld documents that involve discussions by its lawyers about how to prepare the company’s responses to investigative inquiries about the amount of oil that was flowing after the 2010 Gulf of Mexico disaster. More »
A new government assessment of the Bakken and Three Forks formations found that they contain an estimated mean of 7.4 billion barrels of undiscovered, technically recoverable oil, twice as high as previous estimates. More »
In deep Gulf of Mexico waters on Tuesday, federal regulators and the oil industry launched a drill meant to test whether emergency equipment and first responders are ready to tackle an out-of-control subsea well. More »
For AT&T Inc. (T), the decision to introduce natural gas vehicles to the company’s fleet in 2008 proved well-timed, as the price gap between gas and diesel soared to an all-time high that summer. More »
Valero reported net income attributable to Valero stockholders of $654 million, or $1.18 a share, for the period ended March 31. That compares with a net loss of $432 million, or 78 cents a share, for the first quarter of 2012. More »
British oil giant BP reported Tuesday its first-quarter profit nearly tripled as it recorded a big gain from the sale of its 50 percent stake in Russian joint venture TNK-BP to Rosneft. But the company’s gulf oil spill liabilities remain uncertain. More »
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