Suits Say U.S. Impeded Audits for Oil Leases
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Auditors say the Interior Department suppressed efforts to recover millions from oil companies they said were cheating the government.
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The government for decades has failed to meet legal deadlines for tougher energy efficiency standards for appliances and other equipment, costing consumers and industry tens of billions of dollars in electric costs, a congressional study said Thursday.
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Investigators in the U.S. Congress  have found "significant problems" with the way BP Plc.  maintained its Prudhoe Bay facility in Alaska, sources close to  the inquiry said, setting the stage for a heated hearing on  Thursday into corrosion that threatened to shut down the  biggest U.S. oil field.
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Pentagon auditors concluded that Kellogg Brown & Root, a subsidiary of Halliburton Co., charged "unsupported" and "overstated costs" in more than $800 million in U.S.-administered projects financed by Iraqi oil revenue.
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AUGUST 26, 2004  - As expected, the US Securities and Exchange Commission today announced that it will delay an accelerated filing period for annual reports -- a move expected to help big companies transition more easily to year-end
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In a lawsuit that harks back to the Enron scandal, the Bush administration is at odds with the federal agency that oversees securities markets as well as with state attorneys general and consumer and investor advocates.
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The company told the SEC it will delay filing an audited earnings report for the fourth consecutive quarter.
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A House committee alleged that the State Departmentâs inspector general blocked fraud investigations.
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An accounting problem with SunTrust Banks' loan loss reserves could prevent the bank from completing its Sarbanes-Oxley Act reporting requirements by a Dec. 31 deadline.
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The Sierra Club alleges in a lawsuit that the Bush administration changed a rule so oil and gas producers could more easily drill under national parks from outside their boundaries.
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Halliburton unit Kellogg Brown and  Root, the U.S. military's biggest contractor in Iraq, could not  account for over a third of the items it handled in Kuwait  under a work order for the U.S. occupation authority in Iraq,  said an audit released on Thursday.
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Royal Dutch/Shell, which this year had to postpone its annual report and shareholder meetings while it grappled with its sinking reserves figures, has taken precautions to avoid similar embarrassment in 2005.
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Oil spills and safety lapses in the United States have overshadowed record profits.
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The Coast Guard lacks the resources to adequately protect tankers carrying liquefied petroleum or crude oil from a possible terrorist attack, congressional auditors reported Wednesday.
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U.S. Congress members on Thursday   chided BP Plc. BP.L executives for allowing pipelines at   Alaska's Prudhoe Bay oil field to get so corroded that there   was a major oil spill in March and partial closure of the giant   field in August.
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A British firm said the U.S. military improperly excluded it from bidding on the largest security contract in Iraq, blaming the U.S. government for what it calls an "arbitrary and capricious" decision that could cause "harm to U.S. policy and goodwill" in Iraq, according to newly released court...
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U.S. handling of Iraq's oil money after the defeat of Saddam Hussein was marked by weaknesses including problems tracking oil production and cash, a watchdog told the U.N. Security Council on Friday, diplomats said.