Connect to share and comment

U.S. extends Keystone XL comment period, delaying final decision

By Patrick Rucker WASHINGTON (Reuters) - The U.S. State Department announced on Friday it is extending the government comment period on the Keystone XL pipeline, a move that likely postpones a final decision on the controversial project until after the November 4 mid-term elections.

Compensation battle rages four years after BP's U.S. oil spill

By Jemima Kelly (Reuters) - Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over. Jules Melancon, the last remaining oyster fisherman on an island dotted with colorful houses on stilts, says he has not found a single oyster alive in his leases in the area since the leak and relies on an onshore oyster nursery to make a living.

Ex BP-employee settles US insider-trading charges related to 2010 Gulf oil spill

WASHINGTON - A former BP employee who was a co-ordinator during the 2010 oil spill in the Gulf of Mexico has agreed to settle federal charges of using confidential information on the seriousness of the spill to profit illegally from trading in BP stock. The Securities and Exchange Commission announced the settlement of civil insider-trading charges with Keith Seilhan, saying he agreed to pay $224,118. Seilhan neither admitted nor denied the SEC's allegations but agreed to refrain from future violations of securities laws.

Oil rises past $104 a barrel as Ukraine jiggers offset large rise in US crude supplies

NEW YORK, N.Y. - The price of oil rose past US$104 per barrel Thursday on worries over the upheaval in Ukraine. Benchmark West Texas Intermediate crude for May delivery rose 54 cents to close at US$104.30 a barrel in New York. Supplies in the U.S. are ample — the Energy Department reported the biggest gain in stocks in 13 years on Wednesday. But that wasn't enough to calm the fears of traders this week, who worry that Russia's actions in response to the turmoil in Ukraine could be met with sanctions that disrupt exports of Russia's oil and gas.

Ex-BP employee charged over BP stock sales after spill

Regulators Thursday charged a former BP employee who worked on the Deepwater Horizon oil spill with insider trading after he sold $1 million worth of BP stock days after the disaster. Keith Seilhan, who coordinated BP's cleanup of the giant oil spill, sold his family's entire portfolio of BP stock over two days in late April 2010 after he learned the spill was far bigger than BP was saying publicly, according to the US Securities and Exchange Commission.

Canadian government scolds Jimmy Carter over position on Keystone XL pipeline

WASHINGTON - The Keystone XL pipeline issue has created a tiff between a former U.S. president and the Canadian government. The Prime Minister's Office reacted swiftly Wednesday to a letter signed by Nobel laureates, including Jimmy Carter, urging President Barack Obama to reject the pipeline. Carter is the first former president to come out against Keystone XL. Prime Minister Stephen Harper's office responded with a warning: Remember 1979.

Crude oil remains near US$104 a barrel despite huge rise in US stocks

NEW YORK, N.Y. - Oil rose just a penny Wednesday as worries about upheaval in Ukraine offset the dampening effect of a huge increase in U.S. oil supplies. Benchmark West Texas Intermediate crude for May delivery closed at US$103.76 a barrel on the New York Mercantile Exchange. Brent crude for June delivery, a benchmark for international varieties, closed at US$109.36 in London. The May contract expired Tuesday at US$108.74 a barrel.

Walking, 'talking' drilling rigs aim to modernize fracking

By Ernest Scheyder WEST CHESTER, Pennsylvania (Reuters) - The backbreaking life of a roughneck, the iconic worker bees of oilfield drilling rigs, is getting a little easier. Schramm Inc, which built the drilling rig that four years ago helped rescue 33 trapped Chilean copper miners, has designed a 500,000-pound rig for the oil and natural gas industry that can walk, rotate 360 degrees, be operated with a remote control, and load pipe automatically.

Alberta families affected by oilpatch odours may testify in U.S. Senate hearings

EDMONTON - Families who have been driven from their homes by health problems they blame on odours from oilsands operations in northern Alberta have been invited to testify at United States Senate hearings on the Keystone XL pipeline. The families haven't decided yet whether they'll go to Washington to speak to the Senate environment and public works committee, said Brian Labreque, one of the residents invited to attend. "It's a difficult decision to make," he said. "We're very conflicted."

Oil slips closer to $103 a barrel amid signs China's economic growth continues to slow

The price of oil slipped closer to $103 a barrel on Friday as recent signs of sputtering economic growth in China suggested demand for crude could weaken. Other factors influencing crude supplies included a report that U.S. crude reserves rose to a 38-year high and the delayed reopening of export terminals in Libya. By early afternoon in Europe, benchmark crude for May delivery was down 15 cents to $103.25 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the Nymex contract fell 20 cents to settle at $103.40.
Syndicate content