May 24, 2010 |
The public-private response to the Gulf of Mexico oil leak showed more signs of strain Sunday as members of the Obama administration bashed BP's progress even as they acknowledged they had to rely on the oil giant's equipment and expertise to plug the blown-out well. In one of the harshest government condemnations of the company to date, Interior Secretary Ken Salazar said BP had blown "deadline after deadline" and had not "fulfilled the mission it was supposed to fulfill." "I am angry and I am frustrated that BP has been unable to stop this oil from leaking and to stop the pollution from spreading," Salazar said at a Houston news conference.
September 15, 2010 |
The trucks came at night, ferrying load after load of oil-field waste from Alabama to the US Liquids disposal facility in this tiny south Louisiana settlement. For the oil company, it was an easy decision: Exxon's drilling and production waste was classified as hazardous under Alabama law. Its disposal there would cost about $100 a barrel. In Louisiana, however, the chemical waste could be dumped into open pits at a cost of $8 a barrel. The US Liquids plant is across a two-lane highway from Clarice Friloux's property, which backs up to an alligator-filled bayou.
May 12, 2011 |
It's easy to get cheesed about high gas prices when oil companies are raking in billions of dollars in profit. Chevron, for one, wants you to know that it's thinking the same. "Oil companies should put their profits to good use," the company declares in recent newspaper ads. And in response to that laudable sentiment, Chevron's chief financial officer, Patricia Yarrington, says, "We agree. " The ads go on to say that "California's economy needs energy to grow. And we're providing it. Reinvesting over $7 billion into the state over the past 5 years.
July 30, 2010 |
For more than three months, the world has waited for a permanent fix to the BP oil leak. It may not have to wait much longer. As early as Sunday evening, the oil giant will take the first steps in a weeks-long process that, though highly complex, has a simple idea at its core: to cram a leaky hole full of cement. It's the preferred, time-tested method for taming a wild well, and it is absolutely necessary, experts say. Even though no oil has flowed into the Gulf of Mexico since a sealing cap was installed over the gusher July 15, they say it will take a cement job to shut the well for good.
July 20, 2010 |
Apache Corp. said Tuesday it agreed to buy a handful of BP's oil and natural gas fields throughout North America and Egypt for $7 billion, though the oil giant's Prudhoe Bay, Alaska operations were not part of the deal. Apache Corp., known for purchasing mature oil and gas properties and wringing more value out of them, will scoop up BP properties in Alberta and British Columbia, as well as the Permian Basin of West Texas and New Mexico and Egypt's Western Desert. All told, the Houston oil and gas company will add estimated proved reserves of 385 million barrels of oil equivalent to its portfolio.
March 19, 2008 |
A British judge Tuesday lifted a $12-billion freeze on Venezuelan assets awarded to Exxon Mobil Corp., dealing a blow to the oil giant in its fight with the OPEC nation over President Hugo Chavez's nationalization crusade. The ruling hands a victory to Chavez in the bare-knuckles dispute between the largest U.S. oil company and one of the world's most oil-rich countries that boosted energy market tensions and helped push oil prices to new records above $112 a barrel. "Our people won, our country won, our homeland won," Energy Minister Rafael Ramirez said in a news conference after earlier describing the decision as a "100%" victory for Venezuela.
CALIFORNIA | LOCAL
April 7, 1995 |
Exxon Corp. has been quietly shipping monthly tanker loads of crude oil west of the Channel Islands since October without permission of industry regulators, federal and state officials said Thursday. Environmentalists thought that they had secured a victory in October, 1993, when the oil giant decided to abandon its efforts to ship its Santa Ynez Unit field oil through the ecologically sensitive Santa Barbara Channel. But it was disclosed last week that regulators had discovered that the company was shipping 200,000 barrels a month from San Francisco to Los Angeles via a route west of the islands aboard the Exxon-owned tanker R/S Baytown.
October 2, 1987 |
Atlantic Richfield filed suit Thursday to force two government agencies to permit the development of its Coal Oil Point offshore oil project or pay the oil giant $793 million in damages. The suit in Los Angeles County Superior Court, which was expected, claims the State Lands Commission and Santa Barbara County illegally blocked the oil company's effort to develop longstanding leases on state lands just off the Santa Barbara coast.
April 5, 2012 |
Chevron Corp. and Transocean Ltd. are being sued for $22 billion in environmental damages in Brazil, double the initial claims, after a federal prosecutor filed a lawsuit over a second oil spill off the nation's coast. Chevron committed "a series of errors" that led to the March spill at the Frade project, the federal prosecutors' office said. Prosecutor Eduardo Santos de Oliveira is also seeking to halt operations at the project and block the San Ramon, Calif., oil giant from transferring profits from Brazil.
May 7, 2012 |
With energy prices high, Big Oil rules atop the Fortune 500, helping to put Texas just a hair behind California as home to the highest-revenue corporations -- 52 firms, compared with the Golden State's 53. The magazine's latest list of mega-enterprises, released Monday, showed Exxon Mobil in the Dallas suburb of Irving edging out Wal-Mart Stores for the top spot, with 2011 revenue of $453 billion, compared with $447 billion at the Arkansas-based...