Occidental Petroleum Corp.’s proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, as the allure of breakups to create more than $100 billion of market value entices investors.
Texas’s attorney general asked BP Plc for $25 million to clean up oil that has washed up on the state’s coastline since the explosion of a rig in the Gulf of Mexico triggered the worst oil spill in U.S. history.
California and New York, along with Florida, agreed to join more than 40 other states in a nationwide settlement 16 months in the making that seeks to end abusive bank foreclosure practices that followed the collapse of the housing bubble, a person familiar with the matter said.
Natural gas and oil production is the second-biggest source of U.S. greenhouse gases, the government said, emboldening environmentalists who say tighter measures are needed to curb the emissions from hydraulic fracturing.
Massey Energy Co., dealing with the death of 29 miners at one of its West Virginia coal mines, is being investigated by the FBI for possible bribery of state and federal inspectors, a person familiar with the probe said.
ConocoPhillips, the largest U.S. independent oil and natural gas producer, put its plans to explore in Alaska’s Chukchi Sea in 2014 on hold because of uncertainties around federal regulations and permitting.
The 27 largest U.S. companies reporting cyber attacks say they sustained no major financial losses, exposing a disconnect with federal officials who say billions of dollars in corporate secrets are being stolen.
In the months since the April 20 blowout in the Gulf of Mexico, Louisiana regulators moved to fine BP Plc and two of its contractors as much as $1 million for each of the 86 days the runaway well gushed oil.
BP Plc, facing billions of dollars in damages and penalties for causing the worst U.S. offshore oil spill, is reviewing its relationships with Transocean Ltd. and other contractors involved in the catastrophe.