Halliburton is buying rival oilfield services company Baker Hughes in a cash-and-stock deal worth $34.6 billion. The deal comes just days after talks had stalled and Halliburton prepared to go hostile with its takeover bid. The combined company would generate slightly larger revenue than Schlumberger Ltd., the world's biggest oil services company.
A federal judge in New Orleans is sticking to his ruling that said BP's conduct in the 2010 Gulf of Mexico oil rig disaster amounted to "gross negligence." It could mean close to $18 billion in federal penalties for the oil giant.
Previous agreements required Freedom to remove all contaminated soil and groundwater. The new agreement leaves that option on the table, but also allows Freedom to apply for the Land Restoration Voluntary Remediation Program. During bankruptcy proceedings company officials have said this program would be less expensive.
The three men were trying to heat a frozen high-pressure water line in below zero temperatures at the well site when it ruptured. One man was hit by a stream of water and died from the impact.
Don Blankenship has become the highest-ranking coal official to face federal charges in the nation's deadliest mine disaster in 40 years. A federal grand jury indicted the former Massey Energy CEO on numerous counts of conspiracy stemming from the April 2010 explosion that killed 29 men at the Upper Big Branch Mine in Montcoal, West Virginia.
Two of three businesses targeted by Harris County prosecutors in a lawsuit over polluting the San Jacinto River in Texas with poisonous paper-mill waste have agreed to pay $29 million to the county and state. The EPA says the compound in question is so toxic that there is no safe level of exposure.
However, there is significant uncertainty over the crude oil price forecast because of the range of potential supply responses from OPEC, particularly Saudi Arabia, as U.S oil producers project higher production levels that would drive prices down.
According to the Energy Information Administration, U.S. rail transport of crude oil and petroleum products had the second-biggest increase in carloadings through the first 10 months of this year. In response to shipper concerns over their slow movement, federal regulators are closely tracking service among major freight railroads.
According to OSHA, service and maintenance machine workers at Good Old Days Foods, Inc. are being exposed to amputation and electric shock hazards due to a lack of machine guarding and lockout/tagout procedures.
A group of Illinois landowners has sued the Department of Natural Resources to stop the state's new rules for high-volume oil and gas drilling from taking effect. The lawsuit seeks a preliminary injunction, claiming the DNR violated several rulemaking procedures.
Several factors are contributing to the Energy Department predicting that the average price of gasoline in the U.S. will be below $2.94 a gallon in 2015. If the sharply lower estimate holds true, U.S. consumers will save $61 billion on gas compared with this year.
Bacon production is being moved to Coshocton, Ohio, which already produces about two-thirds of the company's bacon product. A spokesperson said Kraft is considering bringing other production lines to Kirksville but nothing specific has been decided.
Over 20,000 gallons of uranium solution was spilled July 17 at the Nichols Ranch in-situ uranium mine. In-situ uranium mining involves pumping chemicals underground to release uranium into a solution that is pumped to the surface. No shafts or tunnels are dug underground.
Another 126 workers at the Remington Arms manufacturing plant in the Mohawk Valley are being laid off. In August, 105 people were laid off at Remington's plant in the village of Ilion, 55 miles east of Syracuse.
The Southeast Louisiana Flood Protection Authority-East sued the companies last year, arguing that coastal drilling and dredging has contributed to the loss of coastal wetlands that protect New Orleans from hurricanes.