Energy Business Review: BP’s Misplaced PRIORITIES, KiOR Wins REGISTRATION
Here are Tuesday’s top stories:
BP (NYSE:BP) concentrated too much on the little details of personal worker safety, relative to the huge systemic hazards which led to the 2010 Gulf of Mexico oil spill, and also applied fewer process safety standards to rigs that it contracted out to Transocean, Ltd. (NYSE:RIG) and others, than it does to its own facilities, according to a United States government safety panel.
The United States Environmental Protection Agency has granted KiOR, Inc. (NASDAQ:KIOR) Part 79 registration for its Renewable Gasoline Blendstock 5. The firm calls its product the first renewable cellulosic gasoline the EPA has registered for sale in the country.
Shares of BP were modestly down Tuesday, even with word that Rosneft Oil Company (RNFTF.PK) is interested in the purchase of the latter’s 50 percent investment in its TNK-BP Russian joint venture. It might be that investors are not sure as of yet, if the pieces on BP’s Russian board are becoming definite.
British Columbia wants greater benefits and fewer risks from the proposed Northern Gateway (NYSE:ENB) pipeline, a sentiment that is causing a bit of friction between it and neighboring Alberta. The former holds that, “Here we are, taking the bulk of risk… and we’re not getting much in return.” Alberta counters that its western neighbor would “fundamentally change confederation. It’s not how Canada has worked.”
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