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(Eddie Seal/Bloomberg)

Weatherford sees bottom of ‘miserable’ North America results

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Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report.
Business deal finalized, congratulations!

BP sells UK natural gas midstream assets

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BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.
Transocean's Discover Seven Seas

Transocean names new CEO

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Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Energy Secretary Ernest Moniz (AP Photo/Pablo Martinez Monsivais)

Energy Department: The U.S. energy grid needs $15 billion in upgrades

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Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes.
(Daniel Acker/Bloomberg)

World’s biggest oil trader says crude price can’t drop much more

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Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview.
(AP photo/Brennan Linsley)

Encana said to explore sale of Haynesville gas properties

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Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate.
(Photo by Andrew Burton/Getty Images)

Oil holds biggest weekly gain since 2009 on China stimulus

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Oil has climbed more than 40 percent since reaching a six-year low in January on estimates that the cutback in U.S. rigs and a boost for fuel demand from lower prices will help drain the global supply surplus.
(AFP/Getty Images)

Fallout from Petrobras scandal claims another victim

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The companies cited in Brazil’s biggest corruption scandal have seen access to credit dry up at a time Petrobras is scaling back some operations and delaying payments to contractors.
(AP file photo/Paul Sakuma)

GE Power sales boost profit past estimates amid oil slump

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Fallout from the global rout in oil markets showed up in GE’s sales, which trailed analysts’ estimates.
(AP file photo/Hasan Jamali)

Saudi Arabia adds half a Bakken to global oil market in a month

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Prices collapsed almost 50 percent last year as Saudi Arabia led OPEC in maintaining production in the face of a global glut.