Oil groups hit by US class action
©Bloomberg BP, Royal Dutch Shell and Statoil have been named in the first lawsuit to be filed after a European Commission antitrust investigation into alleged manipulation of oil prices and…
Chesapeake to pay new chief Lawler $22m
©Bloomberg The new chief executive of Chesapeake Energy has been granted a pay package for his first year worth at least $22m, the company has revealed in a regulatory filing.…
Dispute brews up over German shale search
©Reuters Germany’s brewers have warned Berlin that permitting unconventional gas exploration in Europe’s biggest economy could put the purity of the country’s celebrated beer at risk. Chancellor Angela Merkel’s government…
The day UK had six hours’ gas left
©Getty Britain came within six hours of running out of natural gas in March, according to a senior energy official, highlighting the risk of supply shortages amid declining domestic production…
A perfect storm of energy supply problems
©Bloomberg Vital fuel source: National Grid’s liquefied natural gas terminal on the Isle of Grain in the Thames estuary, London March was not a good month for UK energy security.…
Petrobras looks to issue bonds in euros
Petrobras is looking to sell bonds in euros this year after being taken by surprise by the immense demand from investors for its $11bn offering last week, the largest corporate…
Credit Suisse sued over sale of oil group
Credit Suisse is facing a multimillion-dollar lawsuit over the sale of a company with rights to the largest onshore oil and gas project in Azerbaijan. The suit is one of…
Chesapeake: balance sheet hell
Chesapeake Energy, the US natural gas company, owns the naming rights to the arena where the National Basketball Association’s Oklahoma City Thunder play. And pro hoops provide a fine analogy…
Shale gas a ‘new North Sea’, says IoD
Britain’s shale gas reserves could “be a new North Sea for Britain”, meeting more than a third of annual gas needs, reducing dependence on imports and generating significant tax revenues,…
Shell board grilled on Alaska oil project
Royal Dutch Shell’s top brass were grilled on Tuesday over their troubled Alaska oil campaign, with some shareholders calling for a complete rethink of the company’s strategy in the region.…
BP increases challenges to oil spill payouts
©Getty A drilling platform near the Transocean Discoverer Enterprise drillship burning off gas from BP oil spill BP has stepped up its efforts to challenge what it believes are unjustified…
Riverstone eyes $1bn commodities venture
US private equity group Riverstone is leading talks on an investment of as much as $1bn in a new commodities investment venture to be run by a former Deutsche Bank…
Essar Oil to trade fuel for Chinese loans
©Dhiraj Singh The son also rises: Prashant Ruia is the second generation to lead the family-run group India’s Essar Oil, a division of London-listed Essar Energy, is set to announce…
Anadarko executive to lead Chesapeake
Chesapeake Energy, the second-largest US gas producer, has found a new chief executive after a challenging search for a replacement for Aubrey McClendon, the company’s founder. The board said on…
Greenpeace sounds alarm on oil groups
In December 2011, an offshore drilling platform called the Kolskaya was being towed through the Sea of Okhotsk to Sakhalin Island in Russia’s remote far east. The conditions were brutal.…