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Blowout Could Spill 58 Million Gallons in Arctic

ANCHORAGE, Alaska -- The federal agency overseeing offshore drilling in Alaska says the worst-case scenario for a blowout in the Chukchi Sea lease could result in a spill of more than 58 million gallons of oil into Arctic waters. That's about a quarter of the Deepwater Horizon spill, which put 206 million gallons of oil...

Greenpeace Occupies Rig in Arctic Drilling Protest

ANKARA, Turkey -- Greenpeace activists climbed aboard an oil rig off Istanbul on Friday in a bid to prevent it from reaching Greenland to begin deep-water drilling in the Arctic, but the vessel continued on its course undeterred. The environmental group said eleven activists, some in rock-climbing gear, used speedboats to...

BP, Gulf Spill Partners Sue Each Other

MIAMI -- After being hammered for a year over the Gulf of Mexico oil spill, BP is going on the offensive with multibillion-dollar lawsuits seeking to shift at least part of the blame to those who owned the ill-fated rig or designed a failed safety device or supplied cement that didn't hold. Those companies - Transocean,...

BP Sues Rig Owner for $40B; Blames It for Disaster

NEW ORLEANS -- BP on Wednesday sued the maker of the device that failed to stop last year's calamitous Gulf oil spill and the owner of the rig that exploded, alleging that negligence by both helped cause the disaster. The British company said in papers filed in federal court in New Orleans that it is suing rig owner...

Science May Be Murky in the Gulf for Years

Oil is still in a few places in the Gulf, but for the most part it looks pristine. Anecdotal evidence indicates a rapidly recovering area -- escaped crude oil itself is scarce, and regular tests by the Louisiana Department of Wildlife and Fisheries have yet to reveal any tainted seafood. But the Gulf of Mexico and its...

petroleum production News From AOL

THE HUFFINGTON POST

Mulcair Blames Harper For East-West Divisions

The refining or upgrading of the tarry bitumen which lies under the oil sands consumes far more oil and energy than conventional oil and produces almost twice as much carbon.

THE HUFFINGTON POST - BUSINESS

State Could See Fracking In Two Years

North Carolina lawmakers are adding protections for neighbors and landowners in a new proposal to legalize a form of underground gas drilling widely criticized for causing harm to water supplies and roads.

THE HUFFINGTON POST

Proposed North Dakota Pipeline May Be Scrapped

A Colorado company says its proposed $650 million pipeline that would move 150,000 barrels of North Dakota crude daily to a hub in Minnesota is at risk of being scrapped.

THE HUFFINGTON POST - BUSINESS

Emails Reveal High-Level Discord at BP Over Flow Estimates During 2010 Oil Spill

A BP engineering executive warned senior BP management early on in the 2010 Gulf of Mexico oil spill that internal models did not support estimates of the size of the undersea leak being provided to government officials and the public, according to company emails.

THE HUFFINGTON POST - BUSINESS

Brendan DeMelle: What Chesapeake Energy's Financial Scandals Mean for the Rest of Us

Last summer, The New York Times first raised questions about Chesapeake's accounting practices and its admission that the company's real strategy is to flip land -- in other words: buy drilling plots cheap, talk up its gas potential, and then sell the land at inflated prices.

petroleum production News From the Web

06/03/12 Trial opens for suit against Costner over BP deal Source: NBC - WVTM 13 - Birmingham AL A New Orleans courtroom will be the setting for a real-life legal drama casting two Hollywood stars in adversarial roles.
06/03/12 Japan Idemitsu shuts 140,000 bpd CDU for maintenance Source: Reuters Idemitsu Kosan Co Ltd, Japan's third-largest oil company, said on Monday it shut the 140,000 barrel per day (bpd) crude distillation unit (CDU) at its Hokkaido refinery on June 2 for planned maintenance.
06/03/12 Letters: Arctic Oil: 2 Perspectives Source: The New York Times - New York NY News that North Dakota has overtaken Alaska in oil production tells the story of shale oil's ascendancy in the country's oil supply.
06/03/12 Shale boom, Asia demand to dominate global gas... Source: Stockwatch - Cyprus The impact of growing gas supplies on the global energy landscape and the prospect of deeper declines in Iranian oil exports as Western sanctions bite will dominate talks at a gas conference next week in Malaysia.
06/03/12 Women in Oil & Gas: Starting Out with BP Source: Rigzone Ever since the financial crisis of 2008 getting your first graduate job in the UK, even for a high--achiever, has been a tough task.