A Deepwater Horizon minority investor agreed today to pay Texas $6.5 million for damage to the Gulf of Mexico and the coastal communities as a result of the 2010 Macondo oil spill, Texas Attorney General Greg Abbott said. More »
Alaska’s North Slope shales may hold as much as 80 trillion cubic feet of gas, or more than half the highest estimate for the Marcellus formation, and as much as 2 billion barrels of oil, the U.S. Geological Survey said. More »
Apollo Global Management LLC (APO) is leading a group that is near a deal to acquire El Paso Corp. (EP)’s oil-exploration business for about $7 billion, according to a person with knowledge of the situation. More »
How much BP Plc (BP) will pay for the 2010 explosion of a Gulf of Mexico oil rig that killed 11 people and caused the largest offshore spill in U.S. history may rest in the hands of a former maritime lawyer who began his career representing sailors in personal-injury cases. More »
Statoil ASA (STL) and Exxon Mobil Corp. (XOM)’s largest gas discovery off Tanzania may hold crude oil or natural-gas liquids, opening a new “play” in East Africa, Norway’s biggest oil producer said. More »
Soaring gasoline prices are threatening to undercut President Barack Obama’s re-election prospects and offering Republicans an easy target. With prices pushing $4 a gallon and threatening to go even higher, Obama sought Thursday to confront rising public anxiety and strike back at his GOP critics. More »
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