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Oil’s collapse has affected BG less than some of its peers because it’s one of the few producers increasing output as projects start in Australia and Brazil.
Pickens has sold all his oil holdings and is waiting for the best moment to get back in, he said Thursday in an interview on “Bloomberg Go.”
Activists on Wednesday delivered 2 million petitions to the White House opposing the proposed sale of drilling rights from Virginia to South Carolina.
The company said Wednesday that it would offer the remedies soon, after the EU pushed back the deadline for reviewing the deal by 20 working days to June 23.
Oil has pared its decline this year to about 9 percent after plunging to a 12-year low.
“It’s a scenario of total stress,” CEO Aldemir Bendine said. “The company has to adapt.”
Houston drivers haven’t paid less on average than Abu Dhabi pump prices since 2008, according to data.
Saboteurs represent the latest hassle Western Canada faces in getting its crude to coastal markets as plans to build new pipelines are stymied by environmental and legal challenges.
Joint ventures between oil and gas explorers in the U.S. and their foreign counterparts helped fuel the shale boom. They’re coming back in a new iteration for the bust.
Russia, which relies on oil and natural gas for almost half its fiscal revenue, ran a budget deficit of 2.6 percent in 2015, the highest in five years.