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  • An oil-drilling rig operates on Sept. 26, 2014 near Walle, Germany.

    The world's big energy groups have shelved $200 billion of spending on new projects in a round of cost-cutting aimed at protecting investors. The Financial Times reports.

  • Re-trial date to be set next week for ex-BP engineer Friday, 24 Jul 2015 | 5:12 AM ET

    NEW ORLEANS— A former BP engineer who won a new trial in a criminal case arising from the 2010 Gulf of Mexico oil spill is expected to learn the date of that trial next week. Federal prosecutors accused Kurt Mix of deleting text messages about the amount of oil flowing from BP's Macondo well after the Deepwater Horizon disaster. The New Orleans- based federal judge...

  • July 23- BP Plc's settlement of the Deepwater Horizon blowout and its cost reduction efforts should support its credit ratios to the end of 2016, ratings agency Standard& Poor's said, revising its outlook on the oil and gas major to stable from negative. S&P affirmed its highest' A-1' rating on BP's short-term credit and' A' on its long-term issue.

  • WASHINGTON— Surrounded by supporters as he announced his bid for the presidency, Jeb Bush decried the "swarms of lobbyists" holding sway in Washington and said he was the candidate ready to do something about it. "Look, the rest of the country struggles under big government, while comfortable, complacent interest groups in Washington have been thriving on it."

  • This could be the next company to cut its dividend Wednesday, 22 Jul 2015 | 8:00 AM ET
    Workers from Select Energy Services at a Hess fracking site near Williston, N.D.

    After Chesapeake got rid of its dividend, traders are training a nervous eye on another energy giant.

  • BILLINGS, Mont.— A train that derailed and spilled 35,000 gallons of oil in northeastern Montana was traveling within authorized speed limits, federal officials said Monday as they continued to probe the accident's cause. The Burlington Northern Santa Fe Railway train loaded with crude from North Dakota was traveling 44 mph before Thursday's wreck, U.S....

  • HOUSTON, July 15- Kinder Morgan Inc is considering more export opportunities from Texas and the U.S. "The market is very ripe in Houston right now, it's just a matter of which product makes the most sense," John Schlosser, head of Kinder Morgan's terminals division, said during a quarterly earnings call. Kinder Morgan already exports refined products and has...

  • BP could pay billions more over oil spill saga Monday, 13 Jul 2015 | 1:47 AM ET

    BP is still facing a threat of billions of dollars more in compensation payments for its 2010 oil spill in the Gulf of Mexico.

  • NEW YORK/ LONDON/ HOUSTON, July 9- In early May, with its legal options dwindling and investors impatient, BP Plc saw a chance to negotiate what became a $18.7 billion settlement that ended five years of litigation over the worst offshore oil spill in U.S. history. An unexpected opportunity to secure a global deal that would wipe the slate clean of hundreds of claims...

  • European shares close lower as Greek vote eyed Friday, 3 Jul 2015 | 11:30 AM ET

    European equities closed lower on Friday as investors looked ahead to Sunday, when a referendum that could affect Greece's future in the euro zone will take place.

  • Shell's new Gulf project Thursday, 2 Jul 2015 | 3:19 PM ET
    Shell's new Gulf project

    Marvin Odum, Shell Oil President, discusses the company's new project in the Gulf of Mexico. He says this is going to be a profitable project because the breakeven price is about $55 per barrel.

  • Shell's Arctic project Thursday, 2 Jul 2015 | 3:19 PM ET
    Shell's Arctic project

    Discussing Shell Oil's drilling plans in the Arctic, with Shell Oil President Marvin Odum. Odum says the company is focusing on protecting the natural environment there.

  • BP's $18 billion spill settlement Thursday, 2 Jul 2015 | 3:17 PM ET
    BP's $18 billion spill settlement

    BP agreed to pay $18.7 billion in compensation for the Gulf oil spill. CNBC's Eamon Javers has the details. Louisiana will be the biggest beneficiary.

  • HOUSTON, July 2- BP Plc will pay up to $18.7 billion in penalties to the U.S. government and five states to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago in the largest corporate settlement in U.S. history. Under the agreement with the U.S. Department of Justice and the states, BP will pay at least $12.8 billion for Clean Water Act...

  • HOUSTON, July 2- BP Plc has reached an $18.7 billion deal with the U.S government and five states to settle litigation stemming from its deadly 2010 Gulf of Mexico oil well blowout and explosion that killed 11 men and unleashed the worst spill in U.S. history. It also seeks to resolve environmental and economic damage claims by Louisiana, Mississippi, Alabama,...

  • July 2- BP Plc's agreed to pay out $18.7 billion to the U.S. government and five coastal states to settle damages claims from the 2010 Gulf of Mexico spill. The following are details of the payouts and reaction from officials in Alabama, Florida, Louisiana, Mississippi and Texas:. LOUISIANA: The hardest state because of its proximity to the spill will receive more...

  • Europe ends mostly lower as Greek standoff weighs Thursday, 2 Jul 2015 | 11:30 AM ET
    Greek Prime Minister Alexis Tsipras during a parliamentary session in Athens, June 28, 2015.

    European equities closed mostly lower on Thursday, as investors awaited a high-profile referendum in Greece over the weekend.

  • TIMELINE-BP oil spill, litigation at a glance Thursday, 2 Jul 2015 | 10:34 AM ET

    Sept 4- BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said. *April 20, 2010, RIG EXPLODES: An explosion on the Deepwater Horizon oil rig at the Macondo exploration well kills 11 workers and releases...

  • July 2- BP Plc has reached a comprehensive $18.7 billion settlement with the U.S. government and five states, a landmark deal that effectively ends years of litigation over environmental damage and human casualties caused by the 2010 Gulf of Mexico spill. Clean Water Act fines and natural resources damages, along with claims by Alabama, Florida, Louisiana,...

  • BP to settle Deepwater Horizon claims for $18.7B Thursday, 2 Jul 2015 | 9:29 AM ET
    Fire boat response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon in the Gulf of Mexico on April 21, 2010.

    BP has reached an agreement with the United States and affected state governments to settle damages claim from the Gulf of Mexico oil spill in 2010.