BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
The Obama administration enters the year locked in a battle with Congress over whether to plow ahead with new economic sanctions against Iran or wait to see if last year’s breakthrough nuclear agreement holds.
After a state climate panel missed a deadline to deliver recommendations on reducing carbon emissions in Washington state, two Republican members on the group said Wednesday they want another year to study the economic costs of proposals.
The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
Officials in Canada said a derailed freight train carrying crude oil and propane continued to burn Wednesday morning, while they prepared to launch aerial surveillance and more than 100 residents remained evacuated from their homes. There were no deaths or injuries.
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