Petroleum http://www.globalpost.com/taxonomy/term/23112/all en UPDATE 5-Transocean to pay $1.4 bln for role in BP oil spill http://www.globalpost.com/dispatch/news/thomson-reuters/130103/update-5-transocean-pay-14-bln-role-bp-oil-spill <p>* Transocean owned doomed rig in 2010 Macondo disaster * Payment less than company set aside, shares jump 6.4 pct * Settlement still to be reached with plaintiffs * Halliburton still to settle with DoJ; its shares up 1.7 pct By David Ingram WASHINGTON, Jan 3 (Reuters) - Offshore rig contractor Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from BP Plc's massive oil spill in the Gulf of <a href="http://www.globalpost.com/internal/section-config/mexico">Mexico</a> in 2010. The settlement unveiled on Thursday by the U.S.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130103/update-5-transocean-pay-14-bln-role-bp-oil-spill" target="_blank">read more</a></p> BP BP Plc Business Business Relation Companies listed on the New York Stock Exchange Deepwater Horizon Deepwater Horizon oil spill Disaster DoJ Economy of the United States Environment Gulf of Mexico Gulf of Mexico Gulf of Mexico Halliburton Halliburton Macondo Macondo Prospect Man Made Disaster oil Person Career Petroleum Quotation Transocean Transocean Ltd USD Thomson Reuters Fri, 04 Jan 2013 04:15:13 +0000 5731092 at http://www.globalpost.com UPDATE 3-Tullow drilling in spotlight after mixed 2012 http://www.globalpost.com/dispatch/news/thomson-reuters/130111/update-3-tullow-drilling-spotlight-after-mixed-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Set to drill 49 wells this year</p> <p>* 2012 output undershoots; 2013 view below some forecasts</p> <p>* Uganda exploration wells find no commercial hydrocarbons</p> <p>* Shares down 5 percent</p> <p>* Jubilee FPSO capacity to be tested in coming weeks</p> <p>By Andrew Callus</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130111/update-3-tullow-drilling-spotlight-after-mixed-2012" target="_blank">read more</a></p> Eni Entertainment Petroleum Technology Tullow Oil Tullow Oil Plc Thomson Reuters Fri, 11 Jan 2013 08:15:09 +0000 5733016 at http://www.globalpost.com UPDATE 2-Expanded Seaway line pumps surplus oil from US Midwest http://www.globalpost.com/dispatch/news/thomson-reuters/130111/update-2-expanded-seaway-line-pumps-surplus-oil-us-midwest <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Project could have major impact on global oil prices * U.S. benchmark WTI crude narrows its discount to Brent * 2013 to see 1 million bpd pipeline reconfiguration-Analyst * Seaway seen more than doubling current capacity next year (New Throughout, adds detail, price spread reaction, comment) By Joshua Schneyer Jan 11 (Reuters) - The Seaway oil pipeline, newly expanded to carry up to 400,000 barrels per day (bpd), began pumping crude on Friday from an over-supplied U.S.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130111/update-2-expanded-seaway-line-pumps-surplus-oil-us-midwest" target="_blank">read more</a></p> Matter Petroleum Soft matter Technology Thomson Reuters Fri, 11 Jan 2013 20:15:31 +0000 5733359 at http://www.globalpost.com COLUMN-Tide of resource nationalism begins to ebb: Kemp http://www.globalpost.com/dispatch/news/thomson-reuters/130115/column-tide-resource-nationalism-begins-ebb-kemp <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By John Kemp</p> <p>LONDON, Jan 15 (Reuters) - For a decade, the oil industry has worried about rising resource nationalism in producing countries. Host governments have imposed tougher terms, demanded bigger exploration bonuses and extracted a higher share of revenues, in some cases expropriating foreign oil companies when they failed to develop new fields fast enough.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130115/column-tide-resource-nationalism-begins-ebb-kemp" target="_blank">read more</a></p> Business Peak oil Petroleum Shale gas Technology Thomson Reuters Tue, 15 Jan 2013 13:00:40 +0000 5734682 at http://www.globalpost.com UPDATE 2-Big oil interested in UK shale gas partnership-IGas http://www.globalpost.com/dispatch/news/thomson-reuters/130115/update-2-big-oil-interested-uk-shale-gas-partnership-igas <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Company raises 23 mln stg in placing</p> <p>* Sees deal signed in Q4 2013, Q1 2014</p> <p>* Placing to fund shale exploration plans and oil field deal</p> <p>* Shares down 5 pct</p> <p>By Sarah Young</p> <p>LONDON, Jan 15 (Reuters) - British exploration firm IGas Energy has received interest from some of the oil industry's biggest names to look for shale gas in the UK, its chief executive said, amid growing demand to develop the country's unconventional resources.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130115/update-2-big-oil-interested-uk-shale-gas-partnership-igas" target="_blank">read more</a></p> Business Petroleum Shale gas Unconventional oil Thomson Reuters Tue, 15 Jan 2013 16:30:40 +0000 5734815 at http://www.globalpost.com UPDATE 6-US Interior chief Salazar to step down; Obama remakes energy team http://www.globalpost.com/dispatch/news/thomson-reuters/130116/update-4-us-interior-secretary-salazar-plans-step-down <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Would be second of Obama's energy team to depart</p> <p>* Known for signature bolo tie and cowboy hat</p> <p>* "Fracking" regulations among issues facing next chief</p> <p>By Ayesha Rascoe</p> <p>WASHINGTON, Jan 16 (Reuters) - U.S. Interior Secretary Ken Salazar, who helped lead the government's response to the largest offshore oil spill in U.S. history, said on Wednesday he will leave his post by the end of March to return to his Colorado ranch.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130116/update-4-us-interior-secretary-salazar-plans-step-down" target="_blank">read more</a></p> BP Business Deepwater Horizon oil spill Disaster Ken Salazar Labor Law Petroleum Politics Technology United States Thomson Reuters Wed, 16 Jan 2013 19:23:39 +0000 5735138 at http://www.globalpost.com COLUMN-Peak oil and other fallacies: John Kemp http://www.globalpost.com/dispatch/news/thomson-reuters/130121/column-peak-oil-and-other-fallacies-john-kemp <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(John Kemp is a Reuters market analyst. The views expressed are his own)</p> <p>By John Kemp</p> <p>LONDON, Jan 21 (Reuters) - "The limit of production in this country (the United States) is being reached, and although new fields undoubtedly await discovery, the yearly (oil) output must inevitably decline, because the maintenance of output each year necessitates the drilling of an increasing number of wells.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130121/column-peak-oil-and-other-fallacies-john-kemp" target="_blank">read more</a></p> Environmental economics oil Petroleum Soft matter Technology Thomson Reuters Mon, 21 Jan 2013 13:30:28 +0000 5737210 at http://www.globalpost.com UPDATE 3-US judge okays BP plea, $4 bln penalty in Gulf oil spill http://www.globalpost.com/dispatch/news/thomson-reuters/130129/update-1-us-judge-approves-bp-agreement-gulf-oil-spill <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* BP still faces civil penalties and state claims</p> <p>* BP has 60 days to submit remedial plan to U.S. authorities</p> <p>* US banned BP from new drilling deals, old leases unaffected</p> <p>Jan 29 (Reuters) - A U.S. judge accepted an agreement by BP Plc to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in U.S. history.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/update-1-us-judge-approves-bp-agreement-gulf-oil-spill" target="_blank">read more</a></p> BP BP Plc Companies listed on the New York Stock Exchange Deepwater Horizon oil spill Disaster Petroleum Watercraft Thomson Reuters Tue, 29 Jan 2013 19:15:51 +0000 5741169 at http://www.globalpost.com US oil price eases after three days of gains http://www.globalpost.com/dispatch/news/afp/130131/us-oil-price-eases-after-three-days-gains <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>US oil prices pulled back modestly Thursday after three straight days of gains, partly hurt by continued problems at the Seaway pipeline, but closed out January with a solid gain of more than $5 a barrel.</p> <p>New York's main contract, West Texas Intermediate crude for March delivery, lost 45 cents from Wednesday to settle at $97.49 a barrel.</p> <p>In London, Brent North Sea crude for March gained 55 cents a barrel to $115.55.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130131/us-oil-price-eases-after-three-days-gains" target="_blank">read more</a></p> Commodities market Measurement Petroleum AFP Thu, 31 Jan 2013 21:30:34 +0000 5742233 at http://www.globalpost.com COLUMN-The key to the meaning of Keystone XL-Chrystia Freeland http://www.globalpost.com/dispatch/news/thomson-reuters/130131/column-the-key-the-meaning-keystone-xl-chrystia-freeland <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Chrystia Freeland is a Reuters columnist. Any opinions expressed are her own.)</p> <p>By Chrystia Freeland</p> <p>NEW YORK, Jan 31 (Reuters) - Is oil like red meat or is it like tobacco? Your answer to that question determines how you feel about the North American boom in unconventional sources of fossil fuel, particularly the Canadian oil sands.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130131/column-the-key-the-meaning-keystone-xl-chrystia-freeland" target="_blank">read more</a></p> Business Entertainment Environment Health Labor Matter Petroleum Politics Social Issues Soft matter Thomson Reuters Thu, 31 Jan 2013 23:00:26 +0000 5742309 at http://www.globalpost.com Brent oil hits new three-month high before US payrolls data http://www.globalpost.com/dispatch/news/afp/130201/brent-oil-hits-new-three-month-high-us-payrolls-data <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Brent oil prices struck a fresh three-month high on Friday, boosted by the weak dollar and Chinese data, as traders awaited key economic figures in top crude consumer the United States, dealers said.</p> <p>In early afternoon London deals, Brent North Sea crude for delivery in March rallied to $115.97 per barrel -- which was the highest level since October 15.</p> <p>The Brent contract later stood at $115.88, which marked a gain of 32 cents from Thursday's closing level.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130201/brent-oil-hits-new-three-month-high-us-payrolls-data" target="_blank">read more</a></p> Disaster Matter Petroleum Soft matter Technology AFP Fri, 01 Feb 2013 13:00:18 +0000 5742956 at http://www.globalpost.com Oil prices slip in Asia on profit-taking http://www.globalpost.com/dispatch/news/afp/130203/oil-prices-slip-asia-profit-taking <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Oil prices eased on profit-taking in Asian trade Monday after enjoying healthy gains at the end of last week following encouraging US jobs data, analysts said.</p> <p>New York's main contract, light sweet crude for delivery in March, dropped 25 cents to $97.52 a barrel and Brent North Sea crude for March also shed 25 cents to $116.51.</p> <p>"We're starting to see a little healthy pullback. Oil prices were quite strong last week on US nonfarm payroll results," said Yang Weiming, premium client manager at IG Markets Singapore.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130203/oil-prices-slip-asia-profit-taking" target="_blank">read more</a></p> Commodities market Labor Petroleum AFP Mon, 04 Feb 2013 03:15:28 +0000 5744963 at http://www.globalpost.com Oil prices slip in Asia on profit-taking http://www.globalpost.com/dispatch/news/afp/130204/oil-prices-slip-asia-profit-taking <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Oil prices eased on profit-taking in Asian trade Monday after enjoying healthy gains at the end of last week following encouraging US jobs data, analysts said.</p> <p>New York's main contract, light sweet crude for delivery in March, dropped 30 cents to $97.47 a barrel in the afternoon and Brent North Sea crude for March shed 27 cents to $116.49.</p> <p>"We're starting to see a little healthy pullback. Oil prices were quite strong last week on US nonfarm payroll results," said Yang Weiming, premium client manager at IG Markets Singapore.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/oil-prices-slip-asia-profit-taking" target="_blank">read more</a></p> Commodities market Labor Petroleum AFP Mon, 04 Feb 2013 05:32:23 +0000 5745010 at http://www.globalpost.com Oil prices fall on profit-taking http://www.globalpost.com/dispatch/news/afp/130204/oil-prices-fall-on-profit-taking <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Oil prices fell Monday on profit-taking after enjoying healthy gains at the end of last week following encouraging US jobs data, analysts said.</p> <p>Brent North Sea crude for delivery in March shed 76 cents to $116 a barrel in London midday deals. The contract had reached a near five-month high at $117.07 a barrel on Friday.</p> <p>New York's main contract, light sweet crude for March, dropped 95 cents to $96.82 a barrel in Monday trade.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/oil-prices-fall-on-profit-taking" target="_blank">read more</a></p> Commodities market Labor Petroleum Price of petroleum AFP Mon, 04 Feb 2013 13:16:38 +0000 5745331 at http://www.globalpost.com Oil prices rebound http://www.globalpost.com/dispatch/news/afp/130205/oil-prices-rebound <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Oil prices rebounded on Tuesday in line with recovering stock markets after a poor start to the week.</p> <p>Brent North Sea crude for delivery in March grew 40 cents to $116 per barrel in London midday deals.</p> <p>New York's main contract, light sweet crude for March advanced 36 cents to $96.53 a barrel.</p> <p>"Crude oil prices rebounded on Tuesday and corrected higher partially supported by the softer US dollar and gains across the global equity markets," said Sucden brokers analyst Myrto Sokou.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130205/oil-prices-rebound" target="_blank">read more</a></p> Matter Petroleum Soft matter AFP Tue, 05 Feb 2013 13:00:51 +0000 5746341 at http://www.globalpost.com