Texas sues Biden Administration over lizards' endangered status, citing oil industry threat
Texas Attorney General Ken Paxton filed a lawsuit against the Biden administration Monday, claiming that the decision to declare the dunes sagebrush Lizard as an endangered species could harm property owners or energy production. Paxton, who is a Republican, claimed that the U.S. Fish and Wildlife Service based its final rule, adopted on May 20…
US Judge Rejects Exxon, Shell Nigeria Case
A U.S. judge on Wednesday rejected Exxon Mobil Corp's and Royal Dutch Shell Plc's effort to revive a $1.8 billion arbitration award against Nigeria's state-run oil company, which stemmed from a dispute over a 1993 contract to extract oil near the African country's coastline.U.S. District Judge William Pauley in Manhattan cited public policy…
U.S. Court to Decide Who Will Control Citgo
A U.S. court will decide whether a board of directors appointed by Venezuelan President Nicolas Maduro or one backed by his rival, opposition leader Juan Guaido, runs the eighth-largest U.S. refiner, Citgo Petroleum Corp.A lawsuit filed by Maduro's representatives on Tuesday in Delaware Chancery Court seeks to reassert control over Citgo , along with other U.S.
US Appeals Court Voids Exxon Enforcement of Venezuela Award
A U.S. appeals court said on Tuesday that Exxon Mobil Corp cannot enforce a $1.6 billion international arbitration award against Venezuela stemming from a 2007 asset seizure, voiding a lower court judgment. In a 3-0 vote, the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge erred in excusing Exxon from complying with procedural requirements to enforce the October 2014 award…
Buffett Bets Big on Energy with $9 Bln Oncor Buy
Warren Buffett's move to spend $9 billion on his largest energy sector acquisition reflects his long-standing drive to diversify his Berkshire Hathaway Inc and deepens his commitment to electricity as a means to boost profit. Berkshire said on Friday that its Berkshire Hathaway Energy unit will buy a reorganized Energy Future Holdings Corp to get access to Oncor Electric Delivery Co…
Massey Ex-CEO's Conviction Upheld Over Fatal Mine Blast
A federal appeals court on Thursday let stand former Massey Energy Co Chief Executive Donald Blankenship's conviction for conspiracy and one-year prison sentence related to his role in a 2010 West Virginia coal mine explosion that killed 29 workers. The 4th U.S. Circuit Court of Appeals rejected Blankenship's argument that his conviction should be overturned because the trial judge made several errors…
Chesapeake Energy Loses Appeal in $438.7 mln Bond Dispute
A federal appeals court on Thursday rejected Chesapeake Energy Corp's effort to avoid having to pay $438.7 million, including interest, to investors in a bond dispute. The 2nd U.S. Circuit Court of Appeals in Manhattan let stand a July 2015 ruling requiring the payout, after the natural gas company waited too long to tell bondholders of its plan to redeem their debt six years early.
Lawyer accused of fraud in BP Spill is Acquitted
A prominent Texas lawyer was acquitted on Thursday of charges he made up thousands of fake clients to sue BP Plc for damages that the oil company caused in the 2010 Gulf of Mexico spill, court records show. Mikal Watts was among five defendants found not guilty by a Mississippi federal jury of charges related to an alleged scheme to defraud…
Chevron Beats US Appeal in Ecuador Pollution Case
A federal appeals court on Monday blocked the enforcement of a more than $8.6 billion pollution judgment obtained in Ecuador against Chevron Corp , letting stand a lower court ruling that said an American lawyer used "corrupt means" to win the award. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected efforts by the lawyer Steven…
US Judge Approves BP Civil Settlement with US Government over 2010 Spill
U.S. Judge Carl Barbier granted final approval on Monday to BP Plc's civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states. The company at the time said its total pre-tax charges from the spill set aside for criminal and civil penalties and cleanup costs were around $53.8 billion.
Transocean Defeats Shareholder Appeal over Gulf Spill
Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the 2010 Gulf of Mexico oil spill. The 2nd U.S. Circuit Court of Appeals in Manhattan said the lead plaintiff waited two months too long to sue over alleged misstatements in an Oct.
U.S. Court Dismisses Shareholder Lawsuit Against Transocean
Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the massive 2010 Gulf of Mexico oil spill. The 2nd U.S. Circuit Court of Appeals in New York rejected claims by former GlobalSantaFe Corp shareholders…
Lawsuits over NYC Heating Oil Quality Revived
A New York state appeals court on Tuesday revived two lawsuits accusing Hess Corp and Castle Oil Corp of cheating building owners by selling adulterated heating oil. The Appellate Division in Manhattan ruled unanimously that a lower court judge erred in dismissing claims that the defendants from 2009 to 2013 blended "waste oil" into the…
BP Escapes US Lawsuits Over Post-Gulf Spill Drilling Ban
BP Plc does not have to face U.S. lawsuits by energy and drilling companies over losses they suffered from an offshore drilling ban imposed soon after the 2010 Gulf of Mexico oil spill, a federal judge ruled. U.S. District Judge Carl Barbier in New Orleans agreed with BP that federal law absolved the British oil company from liability…
Berkshire Boosts Oil Bet with Kinder Morgan Stake
Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a new investment in pipeline operator Kinder Morgan Inc, boosting its bet on the oil industry as prices hover near lows not seen in more than a decade. Berkshire owned about 26.53 million Kinder Morgan shares worth roughly $395.9 million at year end, according to a U.S. Securities and Exchange Commission filing detailing its stock investments.
Anadarko Ordered to Pay $159.5 mln Fine for 2010 Gulf Spill
A federal judge ordered Anadarko Petroleum Corp to pay a $159.5 million civil fine reflecting its stake in the Gulf of Mexico well whose 2010 blowout caused the largest U.S. offshore oil spill. In a decision on Monday, U.S. District Judge Carl Barbier in New Orleans said Anadarko was not at fault for the spill. But he said the company's…
US SEC Charges 2 with Cheniere Insider Trading
The U.S. Securities and Exchange Commission on Friday charged two men with insider trading in natural gas company Cheniere Energy Inc in 2011 and 2012. Nicolas Zanen, 42, a vice president of trading in the company's Cheniere International unit, directed his friend Francis van Steenberge, 43, to trade in Cheniere options after giving him tips about forthcoming announcements by the Houston-based company…
Bill Gates' Foundation Sues Brazil's Petrobras
The Bill & Melinda Gates Foundation has sued Brazil's Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company. According to a complaint filed late Thursday night in federal court in Manhattan, Petrobras' "pervasive bribery and money laundering scheme" caused the Gates Foundation and another plaintiff…
BP Wins One US Court Ruling, Loses Another Over 2010 Gulf Spill
A U.S. appeals court said BP Plc, which in July reached a $18.7 billion settlement of federal, state and local claims over the 2010 Gulf of Mexico oil spill, must face one of two proposed class-action lawsuits claiming that the oil company defrauded shareholders over the disaster. The 5th U.S. Circuit Court of Appeals in New Orleans said…
Judge Approves Exxon Mobil Settlement Over 2013 Spill
A federal judge on Wednesday approved Exxon Mobil Corp's $5.07 million settlement of charges that it violated the federal Clean Water Act and state environmental laws in connection with a 2013 oil spill in central Arkansas. U.S. The rupture of Exxon's Pegasus pipeline led to a March 29, 2013 spill that caused about 3,190 barrels, or 134…
