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Fracking rules on U.S. lands seen by Interior as state model

Federal rules for fracking on public lands, set to be released in a few weeks, may serve as a model for states to get companies to disclose the chemicals used in the drilling process, an Obama administration official said.  More »

SandRidge Energy to buy Dynamic Offshore

SandRidge Energy Inc. agreed to buy closely held Dynamic Offshore Resources LLC, formed in 2008 by Riverstone Holdings LLC, for $1.28 billion to increase its oil reserves.  More »

PetroChina agrees to buy stake in Shell’s Canada project

PetroChina Co. (857), the country’s biggest energy producer, said it has agreed to buy a 20 percent stake in Royal Dutch Shell Plc (RDSA)’s Groundbirch shale-gas project in Canada to gain drilling expertise and technology.  More »

Petrobras selling $7 billion in bonds in record debt offering

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil producer, plans to sell $7 billion of dollar bonds as soon as today in the country’s biggest corporate debt offering ever.  More »

Georgia Gulf rejects Westlake’s offer of $35 a share

Georgia Gulf Corp. (GGC), North America’s largest maker of vinyl construction products, rejected Westlake Chemical Corp. (WLK)’s increased takeover offer of $35 a share.  More »

Opinion: Fracking boom could finally cap myth of peak oil

The U.S. oil market could be on the verge of its own fracking revolution, similar to what the natural-gas market is already experiencing. As a result, domestic production is now projected to rise significantly over the coming decades, reducing the relative share of imports in U.S. oil consumption.  More »

Russia says Arctic surveys may add to its continental shelf

Geographic surveys conducted in 2011 in the Russian Arctic could add as much as 1.2 million square kilometers (463,000 square miles) to Russia’s continental shelf, according to the Natural Resources Ministry.  More »

Ohio tries to avoid being dumping ground for fracking fluid

The millions of gallons of chemical- laced wastewater that fracking produces must flow somewhere, and Ohio (STOOH1) is trying not to be that place.  More »

BP must indemnify Halliburton for Gulf oil spill

BP Plc must indemnify Halliburton Co. for damages stemming from the 2010 Gulf of Mexico oil spill.  More »

Cameron sues insurer for refusing to pay BP settlement

Cameron International Corp., facing thousands of claims from the 2010 Gulf of Mexico oil spill, sued one of its insurers for allegedly refusing to pay $50 million in coverage, a move the manufacturer says threatened a $250 million settlement with BP Plc. (BP/)  More »

Shell seen raising dividend for first time since 2009

Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, will write off about $200 million because of an unsuccessful well off the coast of Tanzania, according to Sanford C. Bernstein & Co.  More »

Canadian natural-gas producers to disclose fracking fluids

Canadian natural-gas producers have voluntarily adopted standards to disclose fluids used in hydraulic fracturing amid investigations into the risks posed by the drilling technique in Canada and the U.S.  More »

Nigeria to ask for compensation from Shell on Bonga spill

Nigeria will “soon” ask for compensation for an oil spill from Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, President Goodluck Jonathan said.  More »

Nabors $7.2 Billion takeover seen with surging options

Nabors Industries Ltd. (NBR) has gotten so cheap that traders in the options market are betting the world’s largest land-drilling contractor may be a takeover candidate after the departure of its 81-year-old chief executive officer.  More »

Africa seen mirroring Brazil in Atlantic coast drilling

The world’s next great oil finds may be buried under a layer of salt more than two miles beneath the seabed off Africa’s Atlantic coast.  More »