A former Bank of Montreal natural gas trader will pay a $500,000 fine as part of an agreement settling charges that he mismarked and misvalued the bank’s gas options book and deceived the bank, the US Commodity Futures Trading Commission said.
Energy prices dropped Nov. 5 with crude dipping below $80/bbl, even though the equity market “jumped out of its pants” with the Dow Jones Industrial Average up more than 200 points, said analysts in the Houston office of Raymond James & Associates Inc.
The US Environmental Protection Agency has ordered Texaco Inc., which Chevron Corp. acquired in 2001, to assess soil and ground water contamination and evaluate additional cleanup options for the Pacific Coast Pipeline Superfund site in Fillmore, Calif.
The Independent Petroleum Association of America will work to ensure that an upcoming study on hydraulic fracturing is scientific, based on facts, and includes input from the oil and gas industry as well as state regulators.
Four US House Republicans urged US Interior Secretary Ken Salazar to improve, instead of jettison, categorical exclusions in response to a recent Government Accountability Office report.
Responding to “a continuously increasing focus on the possibilities for oil and gas production in Greenland,” seven operators have formed a trade association anticipating industry development in the country.
Brazil’s state-owned oil and gas company Petroleo Brasileiro SA (Petrobras) has signed the final agreements with China Development Bank Corp. (CDB) for a $10 billion loan, which has been under negotiation since May.
The US Senate Environment and Public Works Committee approved a global climate change bill by an 11-1 vote despite a boycott by Republican members.
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