Energy Business Review: BP’s Indonesian PLAN, Exxon Cleans Up Nigerian SPILL

Shares of Venoco, Inc. (NYSE:VQ) soared Thursday on word that advanced financing discussions toward its going-private agreement with Chief Executive Timothy Marquez are going forward. The firm has not yet set a completion date of the financing, nor a closing date for the merger, although the transactions are expected to close before Sept. 14th.

Investing Insights: Gold and Silver Climb Higher on Merkel Comments.

BP (NYSE:BP) submits a plan to the government of Indonesia for the construction of a third liquefied natural gas train at its Tangguh plant, which has been estimated to cost $12 billion. This train will possess a capacity of 3.8 million metric tons per year, which would increase the total production at the Tangguh facility to 11.4 million metric tons.

An oil spill regulator in Nigeria directs ExxonMobil Corporation (NYSE:XOM) to clean up some oil sighted on the shoreline near its Qua Iboe oil terminal, as an inquiry into the source of the spill is completed. Local lawmakers will determine the ultimate amount of the penalty as early as September.

Colombian oil firm Ecopetrol S.A. (NYSE:EC) has made a deepwater discovery in the United States’ Gulf Coast. A column of approximately 240 feet of net condensate-rich gas pay, which is a prospect of 40 feet of net oil pay. On Wednesday, Ecopetrol signed a contract for about $1.2 billion to transport 12 million barrels of crude oil to India.

Investing Insights: Is Chevron’s Stock a BUY Today?

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