BP Plc, with billions of dollars at stake, seeks to lower payments from its partial Gulf of Mexico oil spill settlement by persuading a federal appeals court to order stricter standards for evaluating claims.
BG Group Plc rose to the highest in more than three months in London after analysts said the U.K.’s third-largest gas company could become a takeover target after the chief executive officer’s surprise resignation.
Royal Dutch Shell Plc will be able to support oil output from the 2020s after winning an auction with its partners for the Libra field, Brazil’s biggest crude discovery, according to Sanford C. Bernstein & Co.
OAO Rosneft, Russia’s state oil company, is the leading contender to buy BP Plc’s 50 percent stake in TNK-BP as the U.K. explorer looks to exit the venture that’s provided $19 billion in dividends since 2003.
Royal Dutch Shell Plc said profit plunged because of deteriorating refining markets and mounting losses in the Americas, surprising investors with an early earnings report that wiped out $10 billion in shareholder value.