US court approves BP’s record $4bn criminal penalty

Last Updated: Wednesday, January 30, 2013, 14:23

In November, BP said it would pay 4 billion dollars to the US Department of Justice and agreed to plead guilty to 14 criminal charges.

US oil spill: BP agrees to pay $4.5 bn in penalties

Last Updated: Thursday, November 15, 2012, 23:23

The April, 2010 explosion on the Deepwater Horizon rig in the Gulf of Mexico killed 11 workers.

'US to be world's largest oil producer by 2020'

Last Updated: Tuesday, November 13, 2012, 10:14

During the launch of the 2012 World Energy Outlook, the IEA pointed "energy developments in the US are profound and their effect will be felt well beyond North America and the energy sector", Xinhua reported Monday.

SC refuses relief to controversial US ship

Last Updated: Monday, May 14, 2012, 16:04

The Supreme Court on Monday refused to grant controversial US ship Oriental Nicety, earlier known as `Exxon Valdez`, an immediate permission to anchor off the Gujarat coast.

No pressure from US on oil import from Iran: Govt

Last Updated: Thursday, May 10, 2012, 18:03

India is not under any pressure from the US on import of oil from Iran, the Government on Thursday assured the Lok Sabha.

Obama seeks to curb speculation in oil market

Last Updated: Wednesday, April 18, 2012, 10:01

President Barack Obama pushed Congress Tuesday to give oil market regulators more muscle to deter price manipulation by speculators, the latest White House response to determined Republican attacks on administration energy policies amid high gas prices at the pump.

Obama presses lawmakers to cut oil tax breaks

Last Updated: Friday, March 30, 2012, 00:14

US President Barack Obama pressed lawmakers on Thursday to cut tax breaks for the petroleum sector, saying they can "stand with big oil companies, or they can stand with the American people."

Obama seeks halt to tax subsidies for oil industry

Last Updated: Saturday, March 17, 2012, 17:59

Expressing concern over the rising gasoline prices and America's increasing dependence on foreign oil, US President Barack Obama on Saturday sought an end to the massive subsidies to oil companies and said the nation needs to develop alternative sources of energy.

Obama for ending $4 bn annual subsidy to US oil companies

Last Updated: Saturday, February 25, 2012, 17:07

Calling for ending the USD 4 billion subsidies that the American oil industry receives every year, US President Barack Obama on Saturday asserted there is no quick fixes to challenges of galloping oil except for adopting the "all-of-the-above" approach.

Iran shrugs off latest US sanctions

Last Updated: Wednesday, February 8, 2012, 10:42

Iran castigated its US adversary on Tuesday over new financial measures to disrupt Iranian commerce, and a default on payment for rice purchases highlighted the encroachment of sanctions on the staples of everyday life.

US to lease out Gulf of Mexico chunk for oil drilling

Last Updated: Friday, January 27, 2012, 14:40

The US government Thursday announced plans to sell leases for 38 million acres in central Gulf of Mexico for oil exploration to increase domestic energy supplies.

Ecuador court upholds $18 billion ruling against Chevron

Last Updated: Wednesday, January 4, 2012, 09:38

An Ecuadorean appeals court on Tuesday upheld a ruling that Chevron Corp should pay USD 18 billion in damages to plaintiffs who accused the US oil giant of polluting the Amazon jungle and damaging their health.