The Russian government wrongly forced the defunct oil giant Yukos into bankruptcy with excessive taxation in 2006, a Dutch appeals court has ruled. In a dispute over assets once held by a Dutch subsidiary, Yukos Finance BV, the Amsterdam Appeals Court said an administrator appointed to sell Yukos shares lacked authority to do so. Source: […]

The US Senate has rejected a Congressional Review Act resolution to revoke the US Bureau of Land Management’s methane emissions rule on May 10 by a 49-51 vote. Backers of the resolution, which the House approved Feb. 3 by a 221-191 vote, immediately called on US Sec. of the Interior Ryan Zinke to withdraw the […]

Meridian Energy Group Inc. has expanded the scope of engineering services to be delivered by Vepica USA Inc. under a previously awarded contract for works on Meridian’s two-phased grassroots 55,000-b/sd high-conversion Davis refinery to be built in Billings County, ND, in the heart of southwestern North Dakota’s Bakken shale region. Source: News

ExxonMobil Corp. affiliate Esso Australia Resources Pty. Ltd., Melbourne, has completed construction and is in the final stages of commissioning of its Longford gas conditioning plant, 19 km south of Sale in southeastern Victoria. Source: News

Vedanta Ltd. has announced a prequalification process for service providers to participate in plans to increase Cairn India Ltd.’s production from Mangala, Bhagyam, and Aishwariya fields on the Rajasthan block. Source: News

ExxonMobil Corp. unit Esso Exploration & Production Guyana Ltd. has let an engineering, procurement, construction, and installation (EPCI) contract to Saipem SPA for the Liza project 120 miles offshore Guyana in 1,800 m of water. Source: News

Light, sweet crude oil prices closed lower on May 9, which traders attributed to rising US oil production and uncertainty about what action the Organization of Petroleum Exporting Countries will take regarding a proposed extension of its production-cut agreement. Source: News