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.
A Defense Ministry official says Libya’s navy has prevented a Malta-flagged oil tanker from entering its territorial waters apparently en route to a militia that has shut down oil terminals for months in a challenge to the government.
Last year, Wall Street acquired a taste for a rare vintage in the oil and gas business: the master limited partnership. But it’s a complex security, and the average investor could run into unexpected pitfalls while stockpiling MLP units.
In at least four states that have nurtured the nation’s energy boom, hundreds of complaints have been made about well-water contamination from oil or gas drilling, and pollution was confirmed in a number of them.
The climb in domestic crude production has created a dilemma for both lawmakers and the White House, who are facing new pressure from oil companies to relax the nation’s 38-year-old ban on exports of the unprocessed product.
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