Energy Biz Review: TransCanada and the Keystone Pipeline, Again
BP, Inc. (NYSE:BP) is in negotiations with United States officials to settle pollution claims related to the Deepwater Horizon spill, and is also said to be in settlement talks with other firms tied to the spill. The government is seeking fines of up to $4,300 for each of the 4.1 million barrels spilled, which could leave BP liable for as much as $17.6 billion.
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Blackstone (NYSE:BX) raised $1 billion from commercial banks – or it is expected to announce such – to develop south Texas oil fields, along with GeoSouthern Energy Corp., a company in which it invested. Like its private equity peers, Blackstone has placed bets on the drilling boom.
European merchants report that Iran is resorting to paying for grain imports with gold, non-dollar currencies and even barter while ships sit still outside Iranian ports waiting for payment. “Some of the major trading houses are involved,” says a trader.
TransCanada (NYSE:TRP) and the contractor brought in to review the Keystone oil pipeline may have a conflict of interest between them though the State Department’s watchdog dismisses allegations. Said of the influence: “minimal.” The findings could help clear the way for GOP attempts to get the pipeline authorized.
Investing Insights: Gold and Silver Climb Higher as Greece Makes Minimal Progress.
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