At the start of last year Marius Kloppers had $10 billion burning a hole in his pocket. Rebuffed in attempts to acquire mining rival Rio Tinto as well as Potash Corp. of Saskatchewan, the chief executive of BHP Billiton needed a big deal to deploy the $24 billion in profits the company had piled up last year feeding China’s insatiable appetite for natural resources.  Read more »

After four years of discussion on the topic, several versions of bills and a conference committee, the House voted on a compromise Marcellus Shale bill.

The revised version of House Bill 1950 was voted out of the House by a vote of 25-4.

The legislation would establish an impact fee dedicated to offsetting the effects on local communities where drilling is occurring, enhance water protections and environmental safeguards, increase fines and penalties, fund environmental programs and conservation districts, and preserve local control. Read more »

Oil prices are rising as Iran again threatens to cut off supplies to Europe.

Iranian lawmakers are pushing a plan to stop exporting crude to Europe before the European Union begins an oil embargo this summer. The EU and the U.S. are pressuring Iran because of its nuclear program.

Benchmark U.S. crude rose $1.47 to $98.38 per barrel in New York. Brent crude, used to price foreign oil varieties, rose by 71 cents to $116.64 per barrel in London. Read more »

A rare opportunity exists to enter the popular Marcellus Shale natural gas play in Pennsylvania. The Marcellus has been in the news for the past few years, as many large domestic and foreign oil and gas companies have made substantial purchases of these newly discovered gas reserves. However, there remains a unique opportunity for a company to enter this world-class play without having to pay a high price. Read more »