The Obama administration on Tuesday approved a plan by Anadarko Petroleum Corp. to sink more than 3,500 natural gas wells in eastern Utah, after the company agreed to environmental safeguards that aim to protect the local air and water. More »
Chesapeake Energy Corp. (CHK)’s biggest investor said the natural-gas supplier, battered by collapsing gas prices and investor distrust, should consider selling itself and spend less time meeting with analysts. More »
Saudi Arabia is storing as much as 80 million barrels of crude to boost supplies amid international prices that are “still a little bit high,” according to the country’s oil minister Ali al-Naimi. More »
Toyota Motor Corp. (7203), the biggest maker of hybrid autos, said its electric RAV4 sport-utility vehicle with batteries and motor from Tesla Motors Inc. (TSLA) will cost more than twice as much as the gasoline version. More »
The U.S. Federal Energy Regulatory Commission denied Enterprise Product Partners LP (EPD) and Enbridge Inc. (ENB)’s request to set rates on the Seaway pipeline connecting an oil-storage hub in Oklahoma to U.S. Gulf Coast refineries. More »
Energy companies will need to keep up-to-date records to prove they are running the nation’s aging pipelines at safe pressures under a new set of guidelines the federal government announced Monday in response to a deadly natural gas explosion in a San Francisco suburb. More »
Norwegian oil company Statoil ASA on Tuesday said net profit dropped 4 percent in the first quarter, though the decline had much to do with the sale of a stake in a Canadian oil sands project that boosted the same quarter a year ago. More »
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