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Saudi Arabia sees crude price rising as it boosts oil production

OPEC kept output targets steady at its meeting in November, focusing on maintaining market share rather than supporting prices. The group meets next in June.  More »

Buying BG will ease Shell’s struggles with scandle-plagued Petrobras

With Petrobras engulfed in Brazil’s largest ever corruption scandal, BG and other partners are struggling to communicate with the state-controlled producer’s management to address delays to development plans.  More »

Royal Dutch Shell in talks to acquire BG Group

Buying BG would be Shell’s largest acquisition since the $60.3 billion merger of its Dutch and U.K. parent companies in 2005.  More »

The fight over oil money in a split Libya is complicating the country’s efforts to boost exports

Libya, holder of Africa’s largest oil reserves, has been split since last year when a coalition of Islamist militias captured Tripoli, forcing the elected government to move to the eastern region.  More »

Cheap oil is squeezing property owners in energy hubs

The 50 percent plunge in crude values since June is already dragging down property prices in Texas.  More »

Libya’s biggest oil port may reopen as groups vie for buyers

Libya, holder of Africa’s largest oil reserves, has been split since last year when a coalition of Islamist militias captured Tripoli, forcing the elected government to move to the eastern region.  More »

Record gasoline output to curb biggest U.S. oil glut in 85 years

Refiners are enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving season.  More »

Ruble trims weekly gain with stocks after oil drops on Iran deal

The ruble’s strength amid weaker oil prices risks exacerbating a budget shortfall that’s forecast to be the widest since 2010.  More »

Iran moves closer to restoring oil exports on nuclear accord

Minutes after the deal was announced, Brent crude, the global benchmark, fell as much as 5.4 percent.  More »

Oil sands developer denied bid to restructure in Canada

Connacher, an oils-sands developer, was seeking an Alberta court’s approval to swap C$1 billion ($796 million) of bonds for equity and to issue $35 million of convertible notes.  More »

Pemex says it will meet deliveries despite massive oil platform explosion

Four workers died including one from Mexican oil services provider Cotemar SA and 16 others were injured Wednesday after a fire on the Abkatun platform in the Gulf of Mexico.  More »

Fracking operators ran up 2.5 violations a day, study shows

The NRDC report tabulated citations issued by inspectors for breaching rules adopted to make sure wells are constructed soundly and the wastewater is handled safely.  More »

Oil extends losses after Iran, world powers agree outline deal

Oil extended losses after Iran and world powers said they reached an outline accord that keeps them on track to end a decade-long nuclear dispute.  More »

Petrobras pension fund losses said to reach $1.9 billion

Founded in 1970, Petros is Brazil’s second biggest pension fund with more than 72 billion reais under management in 2013.  More »

China’s fuel demand to peak sooner than oil giants expect

Sinopec has offered a view of the country that should serve as a reality check to any oil bull.  More »
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