The CEO of one the world's largest oil companies died in Moscow on Monday when his plane "collided with a snow-clearing machine," according to a spokesperson for Vnukovo Airport, NBC News reports.
Christophe de Margerie, whose extravagant facial hair earned him the nickname "Big Mustache," according to Bloomberg News, spent seven years in charge of Total S.A., one of the world's six so-called super-major oil companies. He was 63.
"I can confirm that the passenger was Total's head de Margerie,'' Elena Krylova, the airport spokesperson, told Reuters.
Oil prices sank again on Monday, giving consumers more of a break and causing a split among OPEC leaders about what action should be taken, if any, to halt the slide.
The price drop has led to a near free fall in gasoline prices in the United States. On Monday, the national average price for regular gasoline was $3.20, 9 cents lower than it was a week ago and 14 cents below the price a year ago, according to the AAA motor club.
Hydraulic fracturing, or fracking, has unlocked huge reserves of oil and gas in shale formations in many states. The biggest winner, in terms of new jobs, has been Texas.
But an investigation by Houston Public Media and the Houston Chronicle shows Texas highways have become the nation's deadliest amid a fracking boom.
Thursday marked the end of the epic nine-week divorce trial of Oklahoma’s richest man, oil magnate and Continental Resources Chief Executive Harold Hamm. With billions of dollars of company wealth at stake, the unusually secretive trial could end with the largest divorce judgment in history, Reuters reports.
During the proceedings, lawyers for Harold Hamm and his wife of 26 years, Sue Ann Hamm, presented starkly different views of how much wealth should be divided by the court. The money is mostly tied up in a 68 percent stake in Continental, whose shares are in Harold's name.
T. Boone Pickens, the chief executive officer of BP Capital Management LP, said he would be interested in investing again with Aubrey McClendon, the co-founder of Chesapeake Energy Corp. who was ousted last year, Businessweek reports.
“I potentially could be” an investor in publicly traded companies McClendon forms, Pickens said in an interview Thursday at Bloomberg headquarters in New York. “Let’s see what he’s got.”
Aubrey McClendon, the oil and natural gas wildcatter ousted from Chesapeake Energy Corp. last year, is exploring a purchase of Freeport-McMoRan Inc.’s operations in California for as much as $5 billion, people with knowledge of the matter told Bloomberg News.
McClendon’s American Energy Partners LP has been seeking to raise capital to fund the potential deal, said the people, who asked not to be identified because the matter is not public. American Energy, which has raised $13 billion since it was started last April, would fold the assets into a newly created operating unit, the people said.
Electric car sales are not charging the marketplace. A new study by online automotive research company Edmunds.com suggests the segment may have run out of gas.
Sales of electric drive vehicles are stuck at about 3.6% of all new car sales for 2014, Edmunds senior analyst Jessica Caldwell said.
The city of Arlington contended Chesapeake improperly calculated its royalties by deducting post-production costs and sales to affiliates, but the sides appear to have reached a settlement, according to the Fort Worth Star-Telegram.
Workers at a state-of-the-art solar plant in the Mojave Desert have a name for birds that fly through the concentrated beams of solar energy focused upward by the plant's 300,000 mirrors — "streamers," for the smoke plume that comes from birds that ignite in midair, reports CBC Canada from AP.
Federal wildlife investigators who visited BrightSource Energy's Ivanpah plant last year and watched as birds burned and fell, reporting an average of one "streamer" every two minutes, are urging California officials to halt the operator's application to build a still-bigger version.
The investigators want the halt until the full extent of the deaths can be assessed. Estimates per year now range from a low of about a thousand by BrightSource to 28,000 by an expert for the Center for Biological Diversity environmental group.