Everyone’s a critic: 3 news stories that anger energy industry

BP extends Rosneft share swap deadline to keep deal alive

Posted on April 14, 2011 at 6:25 am by Bloomberg in Legal issues, Social

BP won a one-month extension to complete the $7.8 billion share swap with the state-owned Russian oil producer as it seeks to keep the Arctic oil exploration deal alive. BP’s billionaire partners in TNK-BP filed a legal challenge against it, claiming it breaches their shareholder agreement. More »

Rising gasoline prices could crimp consumers

Posted on April 14, 2011 at 12:30 am by chron.com Energy in General

The nation has entered uncharted waters with the price of a gallon of gasoline approaching $4 a gallon in April. Some experts say that could spell trouble for consumer spending that’s helping fuel the economic recovery. More »

Winners and losers from BP’s annual meeting

Posted on April 14, 2011 at 12:22 am by FT.com - Energy in Gulf oil spill

With the various disputes and controversies surrounding the company at the moment, did CEO Bob Dudley come out of it with his reputation enhanced? And what about the other parties represented? (Via Financial Time$) More »

Speedy work: Some Marcellus Shale permits reviewed in less than an hour

Posted on April 13, 2011 at 5:10 pm by Associated Press in Natural gas, Shale

Pennsylvania regulators said they take as little as 35 minutes to review applications for natural gas well permits, most of which are approved, according to testimony as part of a lawsuit over a permit issued for an exploratory well near the Delaware River. More »

Marathon announces discovery in Iraq

Posted on April 13, 2011 at 4:27 pm by Brett Clanton in Crude oil, Middle East

A subsidiary of the Houston oil company participated in a successful discovery well in the Kurdistan region, just months after Marathon struck a deal to enter Iraq. More »

Egypt’s prime minister orders gas contract price review

Posted on April 13, 2011 at 4:22 pm by Associated Press in General

A review of natural gas contracts to Israel and Jordan is the latest move to appease critics in a year-old battle over Egypt’s natural gas deals, which became a symbol of cronyism in the government of ousted President Hosni Mubarak. More »

Alaska senators dash hopes for governor’s oil tax bill

Posted on April 13, 2011 at 4:08 pm by Associated Press in General

The state’s Senate Resources Committee pulled Gov. Sean Parnell’s plan to cut oil production taxes from its calendar for the rest of this session, killing chances that a bill will pass before Sunday’s adjournment. Attention now shifts to Parnell, who has threatened to cut capital budget spending if his tax bill stalls. More »

Oil settles at $107 as gasoline inventories tumble the most in 12 years

Posted on April 13, 2011 at 4:03 pm by Bloomberg in Crude oil

Futures advanced 0.8 percent after the Energy Department said gasoline supplies dropped 7 million barrels to 209.7 million last week. Stockpiles were forecast to decline by 1 million barrels. More »

Analysts: PDVSA may pay Exxon $3.7 billion

Posted on April 13, 2011 at 3:31 pm by Bloomberg in General

Petroleos de Venezuela SA may have to pay billions in compensation to Exxon Mobil for assets nationalized by Venezuelan President Hugo Chavez in 2007, according to an estimate by Barclays Capital analysts. A settlement is expected soon from the International Chamber of Commerce in New York. More »

Interior secretary, drilling chief tour first deep-water project since ban

Posted on April 13, 2011 at 3:19 pm by Jennifer A. Dlouhy in Gulf oil spill, Offshore, Social

The top U.S. officials in charge of offshore oil and gas exploration on Wednesday visited an Ensco rig working on the first deep-water project permitted since the Gulf oil spill. Interior Secretary Ken Salazar and offshore regulator Michael Bromwich examined new testing systems created in the wake of the disaster. More »