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Energy
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June 1, 2009
Georgia Power Hits Coal Co. With $64M Contract Suit
Georgia Power Co. has sued a coal supplier for $64 million, accusing the company of reneging on a contract to deliver millions of tons of coal when prices skyrocketed.
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June 1, 2009
Transmeridian Centers Liquidation Plan On Ufex Sale
Hoping to wind down operations and unload the bulk of its assets, oil and gas producer Transmeridian Exploration Inc. has filed a plan of liquidation that would see a sale of its most important holding to Ufex Advisors Corp.
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June 1, 2009
Duke To Shut Generators, Pay Fine For CAA Slip-Ups
A federal judge has pushed up by over two years the shutdown date for three coal-fired boiler generating units owned by Duke Energy Corp. that have been emitting pollutants on the shores of the Wabash River since the 1950s.
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June 1, 2009
Sun Sets On Solar Legislation In Texas
A bill that would have created a $500 million fund to subsidize solar energy in Texas will not become law this year, and other solar bills also failed as the state Legislature became bogged down in political maneuvering.
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June 1, 2009
Chesapeake Barred From Antitrust Cash: 5th Circ.
A federal appeals court has ruled that Chesapeake Energy Corp., formerly a defendant in a protracted antitrust class action over wellhead oil prices, is not entitled through mergers to seek settlement funds provided to oil purchasers in the litigation.
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June 1, 2009
Exxon, GM To Pay Up To $12M For Pa. Cleanup
Exxon Mobil Corp., General Motors Corp., Ford Motor Co., CBS Corp. and 33 others agreed on Monday to pay over $12 million to clean up the Breslube-Penn Superfund site, ending over a decade of litigation surrounding the former oil processing site in Pennsylvania.
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June 1, 2009
TVA Says Pollution Suit Ruling Would Cost $1B
The Tennessee Valley Authority has appealed a judge's order to reduce emissions at four of its coal-fired plants, claiming the upgrades would cost the beleaguered public power provider $1 billion beyond what it already planned to spend on pollution controls.
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June 1, 2009
CDI Energy Trade Secrets Appeal Falls Short
A federal appeals court has affirmed the lower court’s decision to deny CDI Energy Services Inc. an injunction and to reject allegations that former employees of the oil field servicer stole trade secrets when they formed their own rival company in 2007.
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May 29, 2009
Simpson Thacher To Share Docs On Work For LDK
In a securities class action against LDK Solar Co., a magistrate judge has cleared the way for Simpson Thacher & Bartlett LLP to provide information on past work performed for the solar power technology manufacturer.
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June 25, 2009
Insurers Dip Toes In Carbon Market But Don't Jump In
The number of insurance products related to renewable energy and climate change has shot up in recent years, but even so, the market for nondelivery of carbon credits has yet to get off the ground in either Europe or the U.S.
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May 29, 2009
Superior-BP Settlement Withstands Investor's Assault
A district judge has backed a bankruptcy court’s approval of bankrupt Superior Offshore Inc.’s settlement with BP PLC and Cross Logistics Inc. related to payment for a $116 million construction project off the coast of Trinidad, despite a prominent shareholder's objection to the deal.
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June 23, 2009
Future Uncertain For Voluntary Carbon Market
If U.S. lawmakers end up passing a cap-and-trade bill, it could mean a slow descent into oblivion for the voluntary carbon market, some experts argue.
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May 29, 2009
Dutch Court Approves Shell’s $381M Deal To Investors
Signing off on the biggest securities fraud settlement ever struck in Europe, an Amsterdam appeals court has ordered Royal Dutch Shell PLC to begin payment of $381 million to a foundation representing more than 150 non-U.S. institutional investors to resolve a dispute over the company’s inflation of its oil and gas reserves.
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May 29, 2009
Former AEP VP Tapped To Head Fossil Energy Office
President Obama has nominated James J. Markowsky, an energy consultant and former vice president at American Electric Power Service Corp., to serve as assistant secretary of fossil energy at the U.S. Department of Energy.
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May 29, 2009
5th Circ. Revives Leases In La. Oil, Gas Well Dispute
Reversing a district court’s grant of summary judgment to land owner Dore Energy Corp., an appeals court has returned two dozen oil and gas wells to Atlantic & Gulf Petroleum Corp. and a second lease owner, but told the lower court to determine if the lease owners ran afoul of a prior settlement.
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May 28, 2009
Calif. Fines BP $1M For Clean Air Code Slipups
Seventeen minor violations of California's clean air regulations for automotive fuels have stacked up to a hefty fine of more than $1 million for BP West Coast Products LLC.
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May 28, 2009
Oil Co. Accuses Coal Miners Of Damaging Its Pipelines
K. Petroleum Inc. has accused Global Energy Group LLC and Maxum Energy Inc. of mining for coal near its natural gas pipelines, causing damage to the pipelines and danger for employees and others.
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May 28, 2009
EPA Proposes New Coal Plant Emissions Standards
The U.S. Environmental Protection Agency has proposed new emission limits and monitoring requirements for equipment used at plants that process and prepare coal.
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May 28, 2009
Foreign Oil Rig Workers' OT Action To Remain In NM
A federal judge has declined to transfer an overtime collective action brought by foreign rig hands against staffing service RigStaff Texas LLC and oil field services provider Schlumberger Technology Corp., finding that the defendants have failed to show that the current forum is inconvenient.
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May 29, 2009
5th Circ. Lets Texas Intervene In Lease Oil Case
An appeals court has handed a victory to Texas in a long-running battle over settlement funds from long-running antitrust litigation over leaseholder royalty payments, allowing the state to intervene in the case and make an attempt to claim the remaining $4.6 million in funds.