A poll of delegates attending the Offshore Technology Conference (OTC) in Houston has revealed that oil and gas professionals think operators should be liable for the risks associated with their exploration and production activity. Of those polled, 66% thought that operators should accept complete liability, while 33% thought that E&P risk should be passed on to contractors.

With the reserves-production ratios of developed nations such as the US and Canada reaching alarming levels, and Middle Eastern resources depleting rapidly, there is widespread concern over crude oil future fuel replacement, according to a new report by natural resources expert GBI Research.

Houston-based ATP Oil & Gas Corporation (NASDAQ: ATPG) and its wholly-owned subsidiary ATP East Med BV said April 30 that they have initiated drilling at the Shimshon well in the Levant Basin of offshore Israel in the eastern Mediterranean Sea with the Ensco 5006 drilling unit.

Sumitomo Corp., reported to be Japan’s third- largest trading house, and Tokyo Gas Co. have secured a supply contract for LNG with Richmond, Va.-based Dominion Resources Inc.

Halcón Resources Corp. and GeoResources, Inc. announced April 25 that they have entered into a definitive merger agreement in which GeoResources will merge into a wholly-owned subsidiary of Halcón Resources in a cash and stock transaction that values GeoResources at approximately $1 billion, based on the closing price of Halcón Resources common stock on April 24.

The National Biodiesel Board (NBB) today called on Congress to reinstate the biodiesel tax incentive to avoid further disruption to an emerging American industry that is creating jobs across the country while diversifying US energy supplies.

Canada’s Montney Shale play is gaining huge attention due to its unconventional gas reserves, securing enormous investments as operators compete for valuable areas, a new report by GlobalData has found.

The largest US banks will have until July 21, 2014 to fully conform to the Volcker Rule, which is regulation aimed at restricting speculative trading by banks with their own money, bank regulators said April 19.

Toronto-based Scotiabank said April 18 that it has closed the acquisition by Scotia Capital Inc. of Howard Weil Incorporated, a US energy investment boutique with major offices in New Orleans and Houston. Terms of the transaction were not disclosed.