A former official of BP Plc will pay $224,000 to settle U.S. claims that he traded securities based on inside information about the magnitude of the Deepwater Horizon oil spill, the Securities and Exchange Commission said.
U.S. banks including Goldman Sachs Group Inc. should be banned from owning commodities businesses because they could threaten the institutions and global supply chains, Senators Sherrod Brown and Elizabeth Warren told the Federal Reserve.
Exxon Mobil Corp., a lightning rod for environmental activists since the Valdez oil spill a quarter-century ago, is appeasing some of its harshest critics by agreeing to disclose internal risk and cost assessments.
Bloomberg BNA — The Senate Committee on Natural Resources and Water Quality advanced measures April 8 seeking to impose a moratorium on hydraulic fracturing activities at oil and gas fields in California and to update the state's oil spill response program to address the risks of importing crude oil by rail.
Environmental groups including WWF and Greenpeace demanded that Norway withdraw all oil-exploration blocks proposed for the next licensing round because many are too close to the edge of the polar ice cap.