Tesoro Logistics unveils details of its IPO
San Antonio-based Tesoro Corp. said it expects units of the new company it is forming to be priced between $19 and $21 a share. Its initial assets will include a crude oil gathering system, eight refined products terminals, a crude oil and refined products storage facility and five related short-haul pipelines. More »
‘Spillionaires:’ Profiteering and mismanagement in the wake of the BP oil spill
The oil spill that was once expected to bring economic ruin to the Gulf Coast appears to have delivered something else: A gusher of money to some who took advantage of cleanup money and claims funds. Meanwhile, others hurt by the spill ended up getting comparatively little. More »
BP’s Gulf Coast cleanup is 95 percent complete, exec says
An independent group of scientists has not yet verified the claim, but has signed off on about 80 percent of the coastal cleanup work so far, a top BP official overseeing the project said. More »
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Oil settles above $108, natural gas up 2 percent
The government said U.S. supplies grew by 28 billion cubic feet last week, less than the 31billion to 35 billion cubic feet that analysts expected. Natural gas rose 7.1 cents to settle at $4.212 per 1,000 cubic feet. More »
Report: Texas nat gas regulators fall down on job
A report from the Texas Oil & Gas Accountability Project says the growing number of complaints from North Texas communities about gas drilling and production are not being adequately handled by Texas regulators. More »
BP chairman: ‘We are a different company’ from a year ago
Speaking at the company’s annual meeting in London, Carl-Henric Svanberg tried to reassure shareholders that BP has a strong future despite continued fallout from the Deepwater Horizon disaster nearly a year ago. More »
TransCanada threatens to use eminent domain for Keystone XL
The Canadian company was criticized last summer for threatening court action if landholders didn’t sell the rights it needs to build a pipeline from Canada to the Gulf of Mexico, but the firm is again mentioning eminent domain in letters to landowners. More »
International drilling regulators examine lessons from Gulf spill
Offshore drilling regulators from a dozen countries today said the Deepwater Horizon disaster is shaking up government oversight of oil and gas exploration far beyond the Gulf of Mexico — and that the spill revealed that the industry needs to do a better job preparing to contain underwater gushers. More »
BP faces protests at annual meeting *updated*
Fishermen from the Gulf Coast who were hit by the oil spill bought shares in BP to give them the right to attend the meeting — and keep the Deepwater Horizon disaster in the spotlight. Indigenous communities angry at the company’s involvement in tar sands extraction in Canada and workers embroiled in a dispute at a BP-owned biofuels plant in northern England also plan protests. More »
Electric ragtop day
The Tesla Roadster is quiet, sleek, fast and fun to drive– perfect for a spring day in Texas, Loren Steffy writes. Make that almost perfect: The electric sportscars aren’t going to get much market traction until they lose the Ferrari pricing. More »
Fight to stabilize Japan nuke plant may last until June
TEPCO engineers rejected a proposal to flood reactors at its damaged plant, which could lower temperatures in days rather than months, said a person briefed on the utility’s plan. Instead, the Fukushima Dai-Chi operator chose a longer process that leaves the plant vulnerable to more aftershocks and radiation leaks. More »
Gasoline prices in Houston jump by 8 cents
Gasoline prices have been climbing, and there is a concern that this will rob consumers of the money they need to make other purchases. More »
April 26, 2013
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