BP seeks David Cameron’s help as oil spill costs rise

BP is calling on the UK Government to step in over the firm’s rising compensation costs associated with the Gulf of Mexico oil disaster, according to reports. The firm agreed to pay £5.4 billion in compensation last year after the Deepwater Horizon disaster killed 11 oil rig workers and released around four million barrels of […]

Energy key to brokering Cyprus crisis loan with Russia?

Russia could step in to save Cyprus from financial disaster and offer it a loan in exchange for a deal on the nation’s offshore gas assets, according to reports. The island’s Finance Minister Michael Sarris told reporters in Moscow: “There’s a lot of teams now working on a number of issues. Banks, natural gas, are […]