Correspondent, Energy and Infrastructure
Braden's Feed
Feb 22, 2013

Chevron nears Congo project decision, prices China gas plant

Feb 22 (Reuters) – Chevron Corp is about to make a
final call on a Republic of the Congo offshore project that
could ultimately produce an estimated 127,000 barrels per day of
crude oil after its anticipated start up in 2015, the company
disclosed on Friday.

Chevron said a final investment decision (FID) on the Moho
Nord project, including a facilities hub and a tieback to the
existing Moho-Bilondo floating production unit, is due by the
end of March.

Feb 21, 2013

U.S. Gulf Coast oil spillers about to face day in court

By Kristen Hays and Braden Reddall

(Reuters) – Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies involved are scheduled to face their judge in court.

The trial over the worst U.S. offshore oil spill is set to start Monday in New Orleans before a federal judge and without a jury. Few expect the case, seen lasting several months, will be decided by the judge.

Feb 21, 2013

Fluor revenue short of estimates, has loss on ruling

Feb 20 (Reuters) – Engineering company Fluor Corp on
Wednesday reported slower-than-expected revenue growth and a
quarterly loss due to a $265 million charge for the Greater
Gabbard wind project off the coast of Britain.

Shares of Fluor, the largest publicly traded U.S.
engineering company, dropped another 1 percent in after-hours
trading following a 3 percent slide to $64.34 in the regular
session on the New York Stock Exchange.

Feb 15, 2013

Occidental says seeking replacement for CEO Chazen

Feb 14 (Reuters) – Occidental Petroleum Corp has
started looking for someone to replace Chief Executive Stephen
Chazen, the fourth-largest U.S. oil company said on Thursday,
after the 66-year-old spent less than two years in the top job.

“Succession planning and best corporate governance practices
have been a high priority for the Board over the past number of
years,” said Margaret Foran, an Occidental director since late
2010. “We look forward to a thoughtful and smooth process that
will yield the best result for Oxy and all of its
constituencies.”

Feb 13, 2013

US board criticizes Chevron Richmond pre-fire response

SAN FRANCISCO, Feb 13 (Reuters) – Federal safety
investigators on Wednesday criticized Chevron’s response to a
leak at its Richmond refinery crude unit that sparked an August
inferno, risking lives and limiting the San Francisco Bay
plant’s output.

“On the day of the accident, Chevron should have shut down
the crude unit as soon as a leak was observed and removed
workers to a safe location,” U.S. Chemical Safety and Hazard
Investigation Board Chairman Rafael Moure-Eraso said.

Feb 13, 2013

U.S. board criticizes Chevron response before Richmond fire

SAN FRANCISCO, Feb 13 (Reuters) – Federal safety
investigators on Wednesday criticized Chevron’s response to a
leak at its Richmond refinery crude unit that caused a huge fire
last August that put many lives at risk and has severely limited
the output of the San Francisco Bay plant.

In a technical report on the damaged 8-inch pipe at the
heart of the fire, the U.S. Chemical Safety and Hazard
Investigation Board (CSB) found a “deformation” in the area of
likely rupture initiation consistent with mechanical force
applied on the outside of the pipe, “possibly from a fire pike.”

Feb 13, 2013

Warm homecoming for Jeremy Lin at San Francisco Bay

OAKLAND, California (Reuters) – Houston Rockets point guard Jeremy Lin returned to the San Francisco Bay area for a warm welcome and a 116-107 victory over the Golden State Warriors on Tuesday.

Lin had 14 points and 10 assists on the Asian Heritage Night just across the bay from his home town of Palo Alto in his first Oakland appearance since triggering a mass hysteria last year.

Feb 9, 2013

Tribunal presses Ecuador to halt Chevron case enforcement

Feb 8 (Reuters) – An international tribunal arbitrating
Chevron Corp’s long-running legal dispute over pollution
in Ecuador has found the country violated the panel’s previous
order to do all it could to prevent enforcement of a contested
$19 billion judgment against the company.

The tribunal, acting under The Hague’s Permanent Court of
Arbitration, said the Ecuador government should have stopped
plaintiffs in the case from going to courts in Brazil, Argentina
and Canada to try to collect the judgment handed down by an
Ecuadorean court in 2011.

Feb 8, 2013

Arbitrators press Ecuador to halt Chevron case enforcement

, Feb 8 (Reuters) – An international
tribunal weighing in on Chevron Corp’s long-running
legal dispute over pollution in Ecuador has found the country in
violation of past orders to try to prevent enforcement of a
contested $19 billion judgment against the company.

Formed via The Hague’s Permanent Court of Arbitration under
the United Nations Commission on International Trade Law, the
panel is hearing a case brought by Chevron to determine whether
Ecuador violated a treaty with the United States requiring it to
ensure the company gets a fair trial.

Feb 5, 2013

BP objects to $34 billion oil spill claims sought by states

By Andrew Callus and Braden Reddall

(Reuters) – BP Plc has tallied up claims made by states and local governments on the U.S. Gulf Coast for economic and property damages from the Macondo oil spill, and come up with a figure of $34 billion, which it deems “substantially” overstated.

The company has struggled with political, financial and legal fallout ever since the April 2010 explosion, which caused the worst offshore oil spill in U.S. history.

    • About Braden

      "Spent early career in London covering technology, media and telecoms over five years, after an initial stint in Dublin. Worked as India's chief financial copy editor and deputy bureau chief in Mumbai for 2-1/2 years before moving to San Francisco in 2006, first to edit West Coast stories and then to cover the energy business. A native Californian, Braden received his BA in Economics from the University of Chicago in 1996."
      Joined Reuters:
      1997
    • Follow Braden