The second phase of the multi-district litigation (MDL) against BP plc concerning the Macondo well blowout got underway Monday in New Orleans, with lawyers battling it over the amount of oil spilled into the Gulf of Mexico for 87 days beginning April 20, 2010.
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A study of the electricity needs in the oil/natural gas patch was funded Monday by the North Dakota Industrial Commission for upcoming work to be overseen by the state’s power transmission authority. Separately, the commission also authorized paying for another study of future natural gas growth in the state.
With oil and natural gas companies poised to invest up to $6 trillion in exploration and production (E&P) through 2030, the 28-year-old reserves accounting rules overseen by the Securities and Exchange Commission (SEC) should be updated to reflect new technology advances, a year-long study by Cambridge Energy Research Associates (CERA) has concluded.
Another former Enron Corp. official, who had overseen finances for its vast Enron North America operations, has agreed to cooperate with federal officials — and he is expected to be a valuable addition to the prosecution’s case against the bankrupt trader.