BP says the United States saw its biggest-ever annual increase in oil production in 2012, while the world's demand for energy grew at a slower pace than the year before. In its annual Statistical Review of World Energy released Wednesday, BP PLC says the U.S. produced 8.9 million barrels a day, up 13.9 percent from 2011.
Cleanup work has ended in three of the states affected by BP PLC's massive 2010 oil spill in the Gulf of Mexico, the company said Monday. The London-based oil giant said the Coast Guard has concluded "active cleanup operations" in Mississippi, Alabama and Florida, but the work continues along 84 miles of Louisiana's shoreline.
Chevron CEO John Watson discusses energy production in the wake of BP's massive oil spill in the Gulf of Mexico. Watson says energy companies are taking a more proactive approach to safety, securing their systems and operations before government regulators come knocking.
Atlas Resource Partners is acquiring about 466 billion cubic worth of proven natural gas reserves for $733 million. Atlas Resource now expects its full year 2014 distribution to its unit holders of at least $2.60 per unit, up about 27 percent from its current annualized distribution of $2.04.
U.S. Magistrate Judge Pamela Meade Sargent has expressed shock that an assistant Virginia attorney general has been assisting two natural gas companies that are being sued by landowners who allege the companies bilked them out of natural gas royalties.
North Carolina would take a more cautious approach to allowing oil and gas drilling under legislation that won approval Wednesday in a state House committee. The amended bill removes many provisions in a Senate measure that would set a date for regulators to begin issuing permits to energy companies drilling for gas through hydraulic fracturing.
A federal magistrate judge recommended class-action status Wednesday for thousands of landowners in southwest Virginia who contend two energy companies cheated them out of tens of millions of dollars in royalty payments for natural gas they extracted from their properties.
Argentina's Supreme Court on Tuesday suspended a freeze on the Argentine assets of Chevron Corp. that had been ordered late last year following a suit by the winners of a $19 billion environmental judgment in Ecuador. The court accepted the company's appeal against the November ruling freezing the assets.
Government projections suggest that the U.S. may soon produce more oil than it exports. Jerry Seib of the Wall Street Journal discusses the possible connection between this development and the growing call for U.S. miliatry intervention in the escalating Syrian conflict.
BP Alaska plans to bring two new drill rigs to the North Slope by 2016, part of an additional $1 billion investment the company envisions over the next five years following the state's rollback of oil production taxes. BP is the second of the North Slope's three major players, after ConocoPhillips, to announce plans following passage of the tax overhaul that was signed into law by Gov. Sean Parnell last month.
The Environmental Protection Agency says crews are working to clean up a mineral oil spill in western Arkansas. EPA spokeswoman Jennah Durant says Monday that officials discovered the spill on Saturday after a transformer apparently fractured at an Oklahoma Gas and Electric substation in Fort Smith.
Megan Cramer, 46, died Feb. 19 in a gas explosion that destroyed JJ's restaurant and injured several other people. A drilling project was underway outside the restaurant, where Cramer was a hostess, when a gas line was severed. Cramer's parents have filed suit against several companies.
Illinois came a giant step closer to approving the nation's strictest regulations for high-volume oil and gas drilling on Friday, as lawmakers approved a measure they hoped would create thousands of jobs in economically depressed areas of southern Illinois.
Dow Chemical's Global R&D Director, David S. Bem, Ph.D., will deliver the keynote address at the ChemInnovation's conference and expo. The keynote, "The Shale Gale Is Blowing: Plotting a Course That Avoids the Shoals and Rocks," will be delivered on Wednesday, September 25, 2013 from 10:45–11:30 AM.
OPEC oil ministers reached quick agreement Friday on keeping output targets steady but deferred solutions on how to deal with surging U.S. shale oil production and internal rivalries denting the organization's image of unity. The 12-nation oil cartel's decision on keeping the status quo on production of 30 million barrels a day was expected.
The oil and gas industry in Colorado exerts an outsize influence on state politics, and its generous political spending might be the reason, suggests a report out Thursday from a left-leaning watchdog group. Colorado Ethics Watch concluded the industry spent nearly $5 million lobbying Colorado officials between 2007 and 2012.
South Dakota officials are taking new steps to promote businesses related to the oil and gas industry. State Energy Policy Director Hunter Roberts says South Dakota can attract new businesses and help existing companies expand to serve the oil fields in nearby North Dakota.
A federal judge has ordered Temple Inland, a subsidiary of International Paper, to pay $3.3 million and serve two years of probation for polluting the Pearl River in 2011 with illegal discharges from its Bogalusa paper mill that killed thousands of fish.
Dozens of residents and property owners are suing ExxonMobil Pipeline Company two months after the company's Pegasus pipeline ruptured and spilled thousands of barrels of oil in the central Arkansas city of Mayflower, citing headaches, nausea and other health problems associated with the spill.
By a 4-to-1 ratio, Exxon Mobil shareholders defeated a resolution to explicitly ban discrimination against gays. The Exxon board had argued that the company already banned discrimination of any type and didn't need to add language regarding gays.
NorthWestern Energy says it is buying natural gas wells and pipelines from Devon Energy Production Co. in the Bear Paw Basin in northern Montana. The company said in a release Tuesday the deal includes 64.6 billion cubic feet of reserves and 916 producing wells.
Analyst Meredith Whitney is the author of the new book, "Fate of the States," which she says is a roadmap for prosperity written for the middle class. Whitney tells Fortune that the flood of cheap natural gas in the U.S. will bring manufacturing jobs back to the country and revive the economy.
The federal Environmental Protection Agency is fining three western Pennsylvania wastewater plants for discharging natural gas drilling wastewater into the Allegheny River or tributaries that feed it. The fines are contained in a consent agreement with the companies that ran the plants.
The chairman of the Senate Energy Committee says a website partially funded by the oil and gas industry is a constructive tool that could be used by federal regulators in requiring public disclosure of the chemicals used in hydraulic fracturing operations.
According to the U.S. Energy Information Administration, oil production in New Mexico has increased by nearly 50 percent over the last three years, making it one of five western states that have helped boost national production over the last three years.