The American Petroleum Institute is taking issue with the president’s State of the Union demand to end subsidies and tax breaks for oil producers. While Obama didn’t say just which subsidies he’d cut, the industry isn’t waiting…
As rapid economic growth and a population boom take place in the developing world, oil will play an increasingly vital role, no matter what its drawbacks. That puts the likes of Schlumberger, Weatherford and Baker Hughes in a s…
An oil company was ordered to pay $22.9 million for understating the amount of royalty it owed the federal governments for oil pumped from offshore oil leases.
A federal judge ruled that Kerr-McGee Corp. understated the value of the oil and natural g…
In Friday’s legal news, two more people pleaded guilty in a bid-rigging scheme that involved deals with some 160 U.S. municipalities; California public schools are being sued for charging fees for various school essentials; and…