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Crude prices resume rise

Oil rose, following the biggest quarterly gain since 2009, amid speculation policy makers will act to limit the fallout from the U.K.’s vote to leave the European Union. Futures climbed 1.4 percent in New York Friday after surging 26 percent during the three months ended June 30.  Global markets hav ...

Will Chevron make a $40 billion bet on new project?

Chevron Corp. may shortly give a green light to the most expensive oil project in the world this year as the industry digs out from the worst slump in a generation. The company said this week in a presentation on its website that the decision on expanding the Tengiz development in Kazakhstan will be ...

Williams confirms chairman, 5 directors stepping down

Williams Cos. said Chairman Frank T. MacInnis and five other directors are stepping down from the board of the pipeline giant, whose proposed $33 billion takeover by Energy Transfer Equity LP collapsed this week. Williams said its board had “thoroughly evaluated” its leadership structure and determi ...

Oil, gas explorer Triangle USA Petroleum files bankruptcy

Triangle USA Petroleum Corp., an oil and gas explorer working one of the largest shale oil reservoirs in North America, filed for bankruptcy with a plan to restructure that will keep its parent company out of Chapter 11. Denver-based Triangle USA is active in the North Dakota and Montana regions of ...

Exxon may be eyeing gas deal off Mozambique

Click through the gallery above to see what life is like on an offshore rig. Exxon Mobil Corp. is considering buying stakes in natural gas discoveries off Mozambique made by Anadarko Petroleum Corp. and Eni SpA, potentially giving a tax windfall to the African nation grappling with a deepening debt ...

Oil trader Gunvor to open Houston office with up to 30 workers

Gunvor Group plans to open a U.S. office as the oil trader moves away from its Russian roots, according to people with knowledge of the matter. Gunvor is looking for more staff after hiring at least one senior energy trader for the planned Houston office, two of the people said, asking not to be ide ...

Abu Dhabi merger would create new, big player in global oil

Abu Dhabi’s proposed merger of two of its largest sovereign investment funds would create a global energy business that produces more oil than OPEC member Libya and with more assets than Houston’s  ConocoPhillips. The Persian Gulf emirate with about 6 percent of the world’s crude reserves will ...

Dow Chemical to cut 2,500 jobs worldwide

NEW YORK — Dow Chemical says it will eliminate about 2,500 jobs worldwide, or about 4 percent of its workforce, which is tied to the recent restructuring of its ownership in Dow Corning. Dow Chemical announced earlier this month that it was now the sole owner of Dow Corning’s silicones unit, which h ...

India may offer opportunities for Houston’s oil services companies

Click through the gallery above showing oil services firms, ranked by value   Some Houston companies are poised to benefit as India begins doling out $27 billion in new contracts in an effort to cut fuel imports. Spending plans are ratcheting up and projects are restarting after the government ...

Is new Oncor deal close?

NextEra Energy has offered to buy Energy Future Holdings Corp.’s Oncor Electric Delivery Co. and is closest to reaching a deal among at least seven companies that have expressed interest in the Texas power utility, people familiar with the talks said. NextEra has submitted its bid to Energy Future H ...

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