Yahoo! energy News

Reuters - An Enbridge Inc pipeline that ruptured in Michigan more than a month ago won't resume oil shipments until at least next week, now that a key pressure test on the damaged section has been delayed until Monday.

AP - A critical device at the center of an investigation into the Gulf oil rig explosion didn't undergo a rigorous recertification process in 2005 as required by federal regulators, a worker responsible for maintaining the equipment told investigators Wednesday.

AP - Oil prices settled higher on Wednesday, coming back from earlier lows that followed reports of weak orders for big-ticket durable goods and falling new home sales.

AFP - Oil prices edged up on Wednesday despite dismal US economic data and a spectacular jump in US crude reserves that signaled weaker demand in the world's biggest oil-consuming nation.

AP - The head of the agency overseeing offshore drilling at the time of the BP oil spill says she deeply regrets that the accident occurred when she was in charge.

AP - Police believe unknown gunmen killed a Nigerian gang leader accused of helping rig the 2007 election in the nation's oil-rich and violence-wracked southern delta, authorities said Wednesday, though officers have yet to find his body.

AP - The chairmen of the presidential panel investigating the Gulf oil spill are expressing disappointment that the Obama administration didn't consult with senior U.S. environmental officials before announcing plans to expand offshore drilling before the accident.

Reuters - Iran denied on Wednesday reports that sanctions are making it harder to import gasoline, one of the most vulnerable parts of the Iranian economy, which lacks sufficient domestic refining capacity.

Reuters - The White House oil spill commission on Wednesday will probe U.S. offshore drilling policies and consider pushing the oil industry to accept a self-governing body to help oversee tough safety standards.

AP - The cleanup of history's worst peacetime oil spill is generating thousands of tons of oil-soaked debris that is ending up in local landfills, some of which were already dealing with environmental concerns.

AFP - A Russian gas tanker is this month making a historic voyage across the famed Northeast passage as receding ice opens up an elusive trade route from Asia to the West sought for centuries by explorers.

AP - Oil prices rose slightly Wednesday in Asia after a 13 percent fall over three weeks drew buyers but weak economic indicators tempered gains.

AP - Enbridge Inc. plans to increase its oil shipping capacity from western North Dakota by about 145,000 barrels daily by building several new pipelines and pumping stations in the next three years, company and state officials said.

Reuters - BHP Billiton's monster earnings expected this week could strengthen its hand in its $39 billion bid for fertilizer group Potash Corp and intimidate any rival bidders. The world's biggest miner is set to report a 50 percent jump in second-half profit to $6.9 billion on Wednesday, sending a loud warning shot toward Potash, which is trying to line up white-knight bidders to fend off the world's largest miner.

AFP - Scottish exploration group Cairn Energy said Tuesday it has discovered gas in offshore Greenland, amid environmental protests by Greenpeace to stop its operations near the nation's fragile coast.

AFP - World oil prices slumped Tuesday, extending five days of losses, with New York crude hitting an 11-week low under 72 dollars per barrel on rising concerns about a weak economic recovery.

AP - Oil prices sank again on Tuesday after a disappointing report on home sales underlined the slow economic recovery and weak demand for oil and gas.

AP - An official says a high-ranking employee indicated a pressure test problem had been resolved hours before BP's Gulf of Mexico well blew out.

AP - ADDING FUEL TO THE FIRE: Scotland's Cairn Energy PLC has found gas off the west coast of Greenland, a discovery that environmental group Greenpeace warns could lead to a damaging rush for hydrocarbons in "vulnerable" Arctic waters.

AP - Oil and gas companies operating in the North Sea were warned Tuesday to improve safety after a spike in accidental leaks and serious injuries to workers on offshore platforms.