Energy

  • October 2, 2007

    Feds Reject $9.5B Nuclear Decommissioning Deal

    The U.S. Department of Energy has declined to award a $9.5 billion contract proposed by Energy Solutions LLC and USEC Inc. to decommission two nuclear power plants after congressional leaders questioned the transaction, citing competition and government subsidy concerns.

  • October 1, 2007

    Judge OKs New Complaint About Nigerian Deaths

    A New York federal court judge has allowed the relatives of Nigerian activists who were imprisoned or killed after protesting Royal Dutch Petroleum Co.'s drilling in the African country to make additions to their lawsuit for the fourth time.

  • October 1, 2007

    York Pays $22M To Settle Oil-For-Food Charges

    York International Corp. on Monday became the latest company to settle allegations that it paid kickbacks to the Iraqi government in order to obtain contracts under the United Nations' oil-for-food program.

  • October 2, 2007

    Court Lifts Damage Cap In Mining Co. Lease Dispute

    In hopes of clearing up a $23 million lease dispute in a mining company’s bankruptcy case, a federal appeals court has determined that federal bankruptcy law permits caps when landlords bring rent claims against a bankrupt entity, but not when they bring claims for collateral damage to their rented premises.

  • October 1, 2007

    Marathon Prevails In Tying, Price-Fixing Class Action

    Marathon Petroleum Co. LLC has succeeded in fighting off a class action by some 5,000 service station dealers who claimed the company and its subsidiary fixed prices for credit- and debit-card processing fees and tied their products and services.

  • October 1, 2007

    Weeks Into Trial, Oil-For-Food Honcho Pleads Guilty

    Coastal Corporation founder Oscar Wyatt Jr. pled guilty Monday and promised to forfeit $11 million to quell the U.S. Department of Justice's charges that he paid Saddam Hussein's regime millions in kickbacks for oil deals connected to the United Nations' sullied oil-for-food program.

  • October 1, 2007

    Xcel Wins $116.5M Over Yucca Mountain Delays

    In its lawsuit against the federal government, a court has awarded a subsidiary of Xcel Energy Inc. $116.5 million in damages over the the long-delayed opening of the Yucca Mountain nuclear waste repository.

  • October 1, 2007

    Ex-Dynegy Execs Settle With SEC

    Five years after energy company Dynegy Inc. admitted to manipulating balance sheet transactions to hide losses, three of the company's former executives have settled with the U.S. Securities and Exchange Commission.

  • October 1, 2007

    Asarco Strikes Deal With Texas Over El Paso Site

    Bankrupt copper producer Asarco LLC has asked a judge to approve a $13 million settlement with Texas and federal officials to cover environmental damage caused by its El Paso smelter, conceding it was “potentially responsible” for some of the costs.

  • October 1, 2007

    MTBE Plaintiffs Urge Federal Judge To Remand Cases

    Officials in seven New York towns have called on a Manhattan federal court judge to remand their water-contamination cases against a group of major oil companies back to state court.

  • October 1, 2007

    Judge Hits WRT Energy Shareholders With Sanctions

    Citing “lack of frankness in discovery,” a district court judge has slapped the plaintiffs in the securities class action against the underwriters of WRT Energy Inc. with sanctions, ordering them to pay some of the defendants' costs and attorneys' fees.

  • September 28, 2007

    Calpine Files Fourth Amended Plan, Statement

    Calpine Corp. has tweaked its Chapter 11 plan and disclosure statement, filing its fourth amended version of its plan and statement Thursday on the heels of a ruling from the bankruptcy court overseeing the energy company's Chapter 11 proceedings that said Calpine's disclosure statement was adequate.

  • October 1, 2007

    American Electric Wins Judgment Bid In ERISA Suit

    A judge has granted a bid by American Electric Power Service Corp. for judgment on the administrative record in a case brought by a former employee who claimed the company improperly denied him long-term disability benefits, ruling that the denial was not arbitrary and capricious.

  • October 1, 2007

    Judge Seeks To Stick Edison With $200M Penalty

    If a judge for the California utility regulator gets his way, Southern California Edison may have to shell out as much as $200 million in fines and ratepayer refunds for manipulating customer satisfaction surveys and safety records that allowed the utility to pocket heftier bonuses.

  • September 28, 2007

    Hydro-Quebec Targeted In Market Manipulation Probe

    The U.S. Federal Energy Regulatory Commission on Wednesday ordered a probe into Hydro-Quebec, Canada's largest electric utility, in response to a complaint alleging the company manipulated energy markets in New York.

  • September 28, 2007

    Petroleum Refiner Settles Clear Air Act Suit

    The Hunt Refining Co. has agreed to pay a $400,000 fine and install new pollution controls worth more than $48.5 million to settle alleged violations of the Clean Air Act.

  • September 28, 2007

    U.S. Sues Starmet To Recover Toxic Site Cleanup

    The U.S. government hit metalworking company Starmet Corp. with a $6 million lawsuit Thursday to recover the cost of cleaning up an area in Massachusetts allegedly contaminated with depleted uranium and other harmful industrial waste because of Starmet's negligence.

  • September 27, 2007

    Judge Tosses EPA's Renewed Suit Over Polluted Site

    A district court judge has rejected the U.S. Environmental Protection Agency's second attempt to force Gulf States Steel Inc. to cover the costs of cleaning up its polluted facility, after the first case was interrupted when the company fell into bankruptcy.

  • September 28, 2007

    Shell Sues Kinder Morgan Over Pipeline Burst

    Shell Canada Ltd. has taken legal action against Kinder Morgan Canada, hoping to hold its energy rival liable for a pipeline rupture that put its bulk distribution terminal out of business for 11 days.

  • September 27, 2007

    House Dem Sides With CFTC Over FERC

    A Democratic chairman of a congressional subcommittee on Wednesday entered the turf war between the Federal Energy Regulatory Committee (FERC) and the Commodities Futures Trading Commission (CFTC), arguing that a 2005 law did not alter CFTC's mandate to take the lead in regulating U.S. energy futures markets.