A South African lawmaking committee agreed to revise draft laws to give the state has the right an unspecified share in all new oil and gas ventures at an “agreed price” or part of output, in addition to a previous provision handing it a free 20 percent stake the projects.
InsideClimateNews.org -- As federal regulators continue investigating why tank cars on three trains carrying North Dakota crude oil have exploded in the past eight months, energy experts say part of the problem might be that some producers are deliberately leaving too much propane in their product, making the oil riskier to transport by rail.
A push by Warren Buffett’s railroad to boost oil-shipment safety is meeting resistance from Hess Corp. and other companies that say the plan would mean a surge in costs and force them to scrap thousands of tank cars.
Royal Dutch Shell Plc, Repsol SA and BG Group Plc are among international oil companies to express interest in Colombian deep-water blocks after contract terms were sweetened, a government official said.
Congress can make progress toward revamping the U.S. tax code this year and shouldn’t wait until after the November election, said Representative Dave Camp, chairman of the House Ways and Means Committee.