BP’s internal investigator has admitted in sworn testimony that his final draft report on the UK company’s management responsibility for the 2005 Texas refinery explosion was toned down. Wilhelm Bonse-Geuking, BP’s European refining group vice-president, was charged with leading a team to determine management responsibility for the devastating explosion which killed 15.
Big Oil went on the defensive this week, being grilled before a House Judiciary Committee antitrust panel. It denied denying accusations that mismanagement and a lack of competition are the reasons behind this spring’s record gasoline prices in the US. Already there have been four record prices this week. The surge has been attributed to … Read More
Shell’s subsidiary, Shell Oil Products has paid nearly $3 million in penalties at its California refinery following an equipment failure that sent nearly 1,000 tons of excess carbon monoxide into the air. The pollution escaped the refinery in Martinez back in March after three boilers that simultaneously produce steam and control the plant’s carbon monoxide … Read More
BP looks set to win a controlling stake in Pakistan State Oil (PSO) in a deal worth around $600 million.The Pakistani Government owns 54 per cent of PSO and is selling 51 per cent stake in the group, leaving 3 per cent in government hands. BP has been competing with Petronas, the Malaysian oil and … Read More
The New Zealand Green Party has unveiled a new climate change policy that rejects carbon taxes and emissions trading in favour of an emitter-pays approach. They argue their solution offers the best hope of carbon charges and trading while ensuring taxpayers are not left holding the estimated $600 million bill for New Zealand’s Kyoto liabilities … Read More
The long-awaited report by the US Chemical Safety Board concluded that “organizational and safety deficiencies at all levels of the BP Corporation” caused the fire at the company’s Texas refinery in 2005. The 335-page report calls on the U.S. Occupational Safety and Health Administration (OSHA) to increase inspection and enforcement at U.S. oil refineries and … Read More
The top honchos at BP will be sweating as they await today’s publication of the US Chemical Safety and Hazard Investigation Board’s report into the Texas fire. By all accounts it will not make for comfortable reading. The ante has been upped by the head of the Board who was she was “absolutely terrified” that … Read More
Tomorrow investigators for the US Chemical Safety and Hazard Investigation Board (CSB) will publish their long awaited report in the cause of fatal explosion at BP’s Texas refinery in March 2005. However it has now emerged that BP board directors were aware of the link between spending cuts and poor maintenance at its Texas City … Read More
China Petroleum & Chemical Corp – better known as Sinopec – has signed a $3.5 billion contract with Saudi Aramco and Exxon Mobil for a refinery in southern China‘s Fujian province. The refinery in Quanzhou will have a crude refining capacity of 240,000 barrels a day and is expected to be operational in early 2009.
Lukoil, Russia’s largest oil company, is slowly buying up influence in Europe according to an article in the Financial Times. Whilst, its rival, Gazprom has often stirred controversy through headline-making projects, Lukoil is quietly concentrating on countries in south-east Europe where Russia is seen with less suspicion than the rest of the continent.