The project, which will include new rail lines to help the facility with shipments of sweet crude oil from production centers in North Dakota, is considered to be the first phase of a project that could lead to more expansions.
Nigeria could produce as much as 4 million barrels of oil a day, but production remains held back by chronic problems with the nation’s government and the rampant theft of crude from pipelines, a top official with Royal Dutch Shell PLC said. More »
Anadarko Petroleum’s Chief Operating Officer Al Walker will replace CEO James Hackett in May, the company said Tuesday, with Hackett assuming the role of executive chairman until he retires in June 2013. More »
BP Plc (BP/), Transocean Ltd. (RIG) and others involved in the operation of the Deepwater Horizon rig that exploded in the Gulf of Mexico in 2010 agreed to settle a lawsuit filed by a worker injured in the blast. More »
Profits for the biggest U.S. energy producers including Exxon Mobil Corp. (XOM) are poised to decline the most since the financial meltdown of 2008-09 as the drilling technique known as fracking collapses natural gas prices. More »
An Ecuadorean appeals court has rejected an order by an international arbitration panel seeking to prevent Amazon rain forest residents from collecting an $18 billion damage award against Chevron Corp. for oil contamination. More »
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