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Chu says efficiency rules could cut need for power plants

U.S. Energy Secretary Steven Chu said tightening efficiency rules on appliances and industry could eliminate the need to build 200 new power stations.  More »

‘Rogue’ shale cracks beyond 600 meters unlikely

Hydraulic fracturing to increase gas output has a fraction of a 1 percent chance of causing unintended cracks in the earth beyond 600 meters (656 yards), according to research in Marine and Petroleum Geology.  More »

Wilson’s Halcon agrees to buy GeoResources for $972 million

Halcon Resources Corp., the oil and natural-gas producer run by former Petrohawk Energy Corp. head Floyd C. Wilson, agreed to buy GeoResources Inc. in a cash-and- stock takeover that values the company at $972 million.  More »

Iran considers halting nuclear expansion to avert EU oil embargo

Iran is considering a Russian proposal to halt the expansion of its nuclear program in order to avert new sanctions, the country’s envoy in Moscow said.  More »

Halliburton opposes BP’s proposed settlement of Gulf spill

Halliburton Co. (HAL) is opposing a $7.8 billion proposed settlement between BP Plc (BP/) and lawyers suing the London-based company over the 2010 Gulf of Mexico oil spill, according to a court filing.  More »

Texans might see cooler summer, lower electricity use

The possibility of an El Nino, a warming of the mid-Pacific Ocean, has forecasters predicting lower temperatures across the U.S. this summer, which may mean less electricity will be needed to run air conditioners.  More »

Fracking-linked earthquakes spurring state regulations

With scientific evidence emerging that wastewater from oil and gas drilling is the possible cause of earthquakes, states are adding new requirements for disposal wells.  More »

Republicans say ‘all of the above’ not enough

Nothing sticks in Republicans’ craws quite like President Barack Obama’s claim that oil production has increased during his administration — except maybe his adoption of the phrase “all of the above” to describe his energy philosophy.  More »

Chesapeake 25% decline seen spurred by personal conflict

Chesapeake Energy Corp. (CHK) Chief Executive Officer Aubrey McClendon has been adding oil fields to his personal holdings faster than he can find cash to drill them. He’s steering the company down the same road.  More »

Floating offshore wind kit gets spur from U.S., Britain

Britain and the U.S. said they’d fund work on offshore wind generation technologies that work in waters as much as 500 feet deep, a measure aimed at opening vast new areas of ocean to development.  More »

EPA settles with refiners over fake renewable fuel credits

The Environmental Protection Agency reached settlement agreements with ExxonMobil Corp., Shell Oil Co. and other refiners after the companies bought renewable-fuel credits from a company that is accused by regulators with fraudulently claiming it had made clean fuel.  More »

Total says Elgin gas leak rate has dropped

Total SA, Europe’s third-largest oil company, said a natural-gas leak that has lasted for more than three weeks in the U.K. North Sea has decreased to about one third of an initial estimate.  More »

Repsol required to buy Eskenazi YPF Stake

Spain’s Repsol YPF SA (REP), whose YPF unit was nationalized by Argentina this week, agreed in 2008 to buy back the Eskenazi family’s shares in that oil company in the event that Repsol loses majority control.  More »

Total talks with Argentina about boosting natural-gas output

France’s Total SA (FP), Europe’s third- largest oil producer, is in talks with Argentina about increasing natural-gas supplies by more than 5 percent after the country took control of YPF SA in a dispute over crude output.  More »

Iraq plans to start second offshore crude export facility today

Iraq will begin operating a second offshore mooring facility for crude exports from the Persian Gulf, Dhia Jaafar, director general of Southern Oil Co., said.  More »