Drilling & production - 20 February 2013

BHP Billiton has announced a substantial drop in profits in the six months to December 2012 as weak commodity prices continue to plague the mining industry.

US judges have approved Transocean’s US$ 1.4 billion settlements for criminal and civil charges relating to 2010’s Macondo oil spill.

Alistair Buchanan, head of the UK’s energy regulator, Ofgem, has warned that the UK could face a “rollercoaster” energy market in the years to 2020, with reserve margins becoming increasingly tight.

Coal Marketing Co., the exclusive carrier of coal from the Cerrejon mining operation in Colombia, has declared force majeure on 900,000 t of coal shipments due to ongoing industrial action.