A series of recent Arctic drilling setbacks have reignited a debate over drilling for Alaskan oil. Shell says Arctic drilling would be an energy boon, but opponents doubt the feasibility of operating in such harsh conditions.
Transocean, Ltd., agreed Thursday to a $1.4 billion settlement with the US Department of Justice for its role in the 2010 Deepwater Horizon disaster. Compared to BP's $4.5 billion fine, Transocean may have avoided the brunt of the blame.
A judge in Texas has ordered that TransCanada Corp., the company behind the building of the Keystone XL oil pipeline, must stop work on a stretch of the line that will run beneath property owned by Michael Bishop for two weeks, due to that man’s challenge of the pipeline’s intentions.
Energy firm Enbridge has announced it will go ahead with its investment of $6.28 billion in expanding the system of pipelines that transport crude from locations in Canada and the United States around North America, according to Consumer Energy Report.
Copper-mining giant Freeport-McMoRan will purchase two oil and gas companies, which could rescue a venture by McMoRan Exploration Co. to drill one of the deepest offshore oil wells on record.