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 water saved by shifting a power plant from coal to natural gas is 25 to 50 times as great as the amount of water required to extract the natural gas through hydraulic fracturing, according to a University of Texas study released Thursday.
The price gap between the world’s two biggest oil benchmarks probably will narrow next year as U.S. exports of refined fuels reach a record and crude supply from the Middle East and North Africa expands.
Only 24 percent of Brazil’s flex-fuel cars fill up with ethanol, down from 82 percent in 2009, said researcher Datagro Ltd. At the same time, sugar futures are heading for the longest slump in two decades
Several business executives and entrepreneurs were among the more than 150 celebrities who signed a letter to President Barack Obama this week urging him to reject the controversial Keystone XL pipeline.
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