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UK says South England holds billions of barrels of shale oil

Shale rock underneath some of the wealthiest counties in southern England may contain billions of barrels of oil, a new government report said.  More »

US wood pellet exports double on British demand surge

U.S. wood pellet exports doubled to 3.2 million short tons last year, from 1.6 million tons in 2012, led by demand from the U.K.  More »

LNG sellers to chase Japan, South Korea on China-Russia gas deal

Liquefied natural gas sellers may face more competitive markets in Japan and South Korea, which together bought more than half of the world’s supply in 2013, after China signed a mega gas deal with Russia.  More »

Judge rejects creditors’ bid to send bankruptcy case to Texas

Energy Future Holdings Corp., the bankrupt Texas power provider, will restructure $40 billion in debt in a Delaware court, a federal judge ruled, rejecting a request by creditors to transfer the case to Dallas, where the company is based.  More »

Marathon Petroleum buys Hess retail for $2.87 billion

Marathon Petroleum Corp. (MPC) agreed to acquire Hess Corp.’s gasoline stations and retail business for a total of $2.87 billion, expanding its footprint to 23 states from nine.  More »

TransCanada explores oil by rail as Keystone XL process drags

TransCanada Corp. is considering ways to deliver Canadian crude oil by rail to the U.S. as customers of its proposed Keystone XL seek an alternative to the delayed pipeline, Chief Executive Officer Russ Girling said.  More »

Russia-China deal risks damping LNG prices

China’s deal to buy natural gas from Russia after a decade of talks risks making tanker shipments of the fuel less competitive as new projects target Asian markets.  More »

Obama divides power players with pollution rule utilities accept

The Obama administration’s upcoming greenhouse gas rules are gaining acceptance from an unlikely quarter — power companies — and splitting the energy industry’s normally unified opposition to new limits.  More »

Putin’s China gas deal risks lower returns for Gazprom

What’s good for Russia isn’t necessarily good for the country’s largest company.  More »

PDVSA signs $2.2 billion oil service financing to boost drilling

Petroleos de Venezuela SA, the country’s state oil company, signed deals with oil service companies Schlumberger, Halliburton and Weatherford International.  More »

Woodside scraps $2.6B Israeli gas deal as talks fail

Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, scrapped an agreement to buy a quarter of Israel’s largest natural gas field for as much as $2.6 billion after talks to complete the deal collapsed.  More »

Biden visits Cyprus as gas fuels reunification talks

Vice President Joe Biden is the most senior U.S. official in more than half a century to visit Cyprus as the search for alternative gas-supply routes into Europe draws international attention to the divided island.  More »
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