AP – Gasoline prices have never been higher this time of the year.
Reuters – Mitsui & Co Ltd’s MOEX Offshore agreed with the U.S. Justice Department to pay at least $90 million to settle some of its liability in the Deepwater Horizon oil spill, the first government settlement involving the BP Plc Macondo well.
Reuters – Royal Dutch Shell’s bid to drill in the Arctic this summer took another step forward on Friday when the U.S. Interior Department approved its oil spill response plan for the Chukchi Sea.
AP – Oil on Friday climbed to the highest level this year on expectations that supplies will tighten in the spring.
AP – The number of rigs actively exploring for oil and natural gas in the U.S. is up five this week to 1,994.
AP – Uganda’s government has signed long-delayed licenses that would make it Africa’s newest oil-producing nation — defying court cases, legislators and growing concerns that the new riches will bring more corruption and pollution.
AP – Refining cutbacks due to slumping demand and global political and economic tensions are being blamed for climbing gasoline prices in Texas and nationally.
Reuters – The Conservative government hopes to present its next budget by the end of March, Finance Minister Jim Flaherty said on Friday. The government says the budget will include spending cuts designed to eliminate the deficit by the 2015-16 fiscal year.
Reuters – The House of Representatives passed an energy bill on Thursday that would wrest control of a permit for the controversial Keystone XL oil pipeline away from President Barack Obama, who has put the project on hold.