As if there already weren’t enough oil on the world market, ExxonMobil Corp. and Anadarko Petroleum Corp. are announcing that each has begun producing oil from two major projects. ExxonMobil said Jan. 19 that it had begun retrieving oil from the Arkutun-Dagi field of the Sakhalin-1 project in the northeast of Sakhalin Island in the Russian Far East. Once it hits its stride, the company said, it is expected to produce 90,000 barrels a day. Arkutun-Dagi is the last of...

BP penalty trial begins in New Orleans

Published - Jan 20, 2015

A federal judge on Tuesday will hear arguments from BP and U.S. government attorneys and experts in the long-running civil case over the 2010 Gulf of Mexico oil spill.

The Woodlands-based oil company had owned 25 percent of the doomed Macondo well and is on the hook for up to $1,100 in fines for every barrel that reached the Gulf of Mexico in 2010.

BloombergJudge Puts BP's Top Fine at $13.7 Billion for Gulf Oil Disaster; U.S. Sought ...BloombergBP Exploration & Production is “subject to enhanced penalties under the Clean Water Act” because the discharge of oil was the result of its gross negligence and willful misconduct, Barbier held Sept. 4. BP has appealed that decision. In the second ...BP's Oil Spill Fines Reduced by BillionsBP faces largest oil pollution penalty in U.S. history as final phase of trial ...Judge's Ruling on Gulf Oil...

Anadarko spuds the Kifaru-1 exploration well in the Rovuma Onshore Concession in northern Mozambique.

BP Plc and Anadarko Petroleum Corp narrowly failed to persuade a U.S appeals court to reconsider its 2014 ruling that they could face civil fines under federal pollution laws over the 2010 Gulf of Mexico oil spill. By a 7-6 vote, the 5th U.S. Circuit Court of Appeals let stand a three-judge panel's decision to uphold a 2012 ruling from U.S. District Judge Carl Barbier in New Orleans, in which he said the companies could face Clean Water Act penalties.

A federal appeals court has refused to reconsider its 2014 ruling that BP cannot avoid federal penalties for the 2010 Gulf of Mexico oil spill by blaming another company's failed equipment.

State staff monitoring oil and gas wells for compliance discovered Anadarko Petroleum and Exco Resources weren't paying the full amount from their wells to a trust fund for Oklahoma public schools.

NOLA.comOil spill trial by the numbers: How much will BP pay?NOLA.com19) gave a preview of the arguments they plan to make during the final phase of the oil spill trial. The trial, which starts Jan. 20, will determine how much in fines BP and its partners will pay for the 2010 Gulf of Mexico oil disaster. The federal ...BP says lower oil price should factor in spill fines

BloombergOil Crash Exposes New Risks for U.S. Shale DrillersBloombergTumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources Co. (PXD) and Noble Energy Inc. (NBL), used a strategy ...

Kenya may soon be home to the largest wind project on the continent of Africa. Danish wind company Vestas won a contract to provide 365 turbines for a 310 megawatt wind power project in Kenya. The Lake Turkana Wind Power project will be the largest of its kind in Africa, and is expected to generate 15-20 percent of Kenya’s electricity needs when completed. According to project developers, the site is a unique location that is favorable for wind. It is...

Pioneer Natural Resources: A Survivor Amid The Oil OnslaughtForbesWest Texas Intermediate crude oil is now down to $61 a barrel, and the bloodbath continues for oil company investors. According to data from U.S. Capital Advisors, as of early this week shares in the average large-cap U.S. independent oil and gas ...