Oil, Energy | featured news

April 20, 2010 - Explosion and fire on Transocean Ltd's drilling rig Deepwater Horizon licensed to BP; 11 workers are killed. The rig was drilling in BP's Macondo project 42 miles southeast of Venice, Louisiana, beneath about 5000 feet of water and ...

Robot submarines carried equipment and cut small pipes at the bottom of the Gulf of Mexico on Monday to prepare to place a new containment valve over the blown-out well this week, while BP crews began working on yet another containment plan that could be added after the cut-and-cap effort.

BP's attempt to plug the Gulf oil leak with mud and cement has failed, yet another setback in the company's attempt to stop the crude from further fouling waters, wildlife and marshland.

Elizabeth Birnbaum, director of the embattled U.S. Minerals Management Service, which oversees offshore drilling, has been fired, Fox News has confirmed.

Federal regulators responsible for oversight of drilling in the Gulf of Mexico allowed industry officials several years ago to fill in their own inspection reports in pencil -- and then turned them over to the regulators, who traced over them in pen before submitting the reports to the agency, according to an inspector general's report to be released this week.

Oil giant BP conceded Thursday that the Gulf of Mexico oil leak is larger than it originally estimated, adding more worry as portions of the ...

The Obama administration warned BP in a strongly worded letter Saturday that the federal government expects the oil giant -- and not taxpayers -- to pay all damages associated with the ongoing Gulf of Mexico oil leak, even if they exceed the $75-million liability cap under federal law.

Scientists say incident is especially troubling because it is the 1st massive U.S. oil spill whose effects so far are largely hidden underwater.

Company says its costs for fighting spill in the gulf have risen by $100 million in three days.

A Venezuelan natural gas exploration rig sank in the Caribbean Sea in the early hours of Thursday morning, President Hugo Chavez said via a message on Twitter.