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Bloomberg

(Daniel Acker/Bloomberg)

Reckoning arrives for cash-strapped oil firms amid bank squeeze

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April is a crucial month for the industry because it’s when lenders are due to recalculate the value of properties that energy companies staked as loan collateral.
(AFP/Getty Images)

Construction company embroiled in Petrobras scandal files for bankruptcy

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Brazil’s biggest builders have been struggling to make payments to creditors as they defend themselves from allegations that they bribed the oil company for contracts.
(David Paul Morris/Bloomberg)

Mayors from Vancouver and other Canadian cities are trying to halt a Kinder Morgan pipeline

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The mayors of seven towns in British Columbia want the proposed Trans Mountain pipeline expansion put on hold.
U.S. Secretary of State John Kerry waits for the start of a meeting on Iran's nuclear program with officials from Britain, France, Germany, China, the European Union and Iran at the Beau Rivage Palace Hotel in Lausanne, Switzerland Tuesday, March 31, 2015. (AP Photo/Brendan Smialowski, Pool)

Oil is heading for its longest run of quarterly drops as the deadline for an Iran deal looms

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Oil in New York is sliding toward the longest run of quarterly declines since 2003 amid speculation the global surplus that cut prices by almost 50 percent last year will persist.
(AFP/Getty Images)

Petrobras investors claim PwC ignored red flags of fraud

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Petrobras and its senior executives violated provisions of U.S. and Brazilian corporate law, according to a complaint in Manhattan federal court.
(AP Photo/Ed Andrieski, File)

Citigroup says renewables will continue upward trajectory, even as crude tumbles

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Oil generates about 5 percent of global electricity and doesn’t generally compete directly with wind and solar power, Citigroup researchers said.
(AP Photo/Alexander Zemlianichenko, file)

Russia’s natural gas giant is cutting its dividend after seeing its profits tank

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The massive drop in profits may translate into a payout of about 2 rubles a share, compared with 7.2 rubles a year earlier.
A security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran. (AP Photo/Vahid Salemi, File)

Iran riches coveted by Big Oil after decades of conflict

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As Iran and the U.S. enter 11th-hour negotiations to reach a nuclear deal and ease sanctions, the Middle Eastern country is emerging again as a potential prize for Western oil companies
(AP file photo/John Moore)

Saudi Aramco signs $10 billion loan as oil companies raise funds

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Saudi Aramco, the world’s biggest oil exporter, is the latest oil company in the region to take advantage of low borrowing costs to raise funds.
(Eddie Seal/Bloomberg)

Blackstone CEO sees ‘remarkable’ opportunities in slumping oil

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Most of Blackstone’s energy investments aren’t in oil, meaning its exposure to lower oil prices is limited, CEO Stephen Schwarzman said.