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Original byline: Jim Blecha/

WPX Energy agrees to buy Permian producer for $2.35 billion

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WPX will also assume $400 million in debt, according to a statement today.
The oil industry says China prohibits disclosures from oil companies on payments to the government for drilling rights. (AP Photo/Andy Wong)

China retakes top oil-buyer spot from U.S.

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China overtook the U.S. as the largest crude importer in April for the first time this year. The country bought a record 7.4 million barrels a day from overseas that month, surpassing U.S. imports of about 7.3 million.
(Photographer: Patrick Semansky/Bloomberg)

MPLX to buy MarkWest Energy Partners for about $15.8 billion

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The proposed deal combines the largest processor of gas in the Marcellus and Utica shale regions of Pennsylvania and Ohio with a growing oil and refined products partnership, according to the statement.
(Photographer: Andrey Rudakov/Bloomberg)

Shell U.S. unit may drop ‘oil’ from name in sign of times

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With Shell Oil Co.’s parent focusing more on natural gas and looking at other energy alternatives, the oil in the name “is a little old-fashioned, I’d say, and at one point we’ll probably do something about that,” Marvin Odum, director of the company’s upstream Americas business, said Thursday at the Toronto Global Forum.
(AP photo/Brennan Linsley)

California farms are using drilling wastewater to grow crops

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Amid a four-year dry spell, more companies in California are looking to recycle their water or sell it to parched farms as the industry tries to get ahead of environmental lawsuits and new regulations.
SHELL STRATEGIC OIL

Shell’s $70 billion BG purchase approved by Brazil regulator

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Brazil follows the U.S. in approving the industry’s biggest deal in at least a decade. Shell’s purchase at a 50 percent premium, announced in April, gives the Anglo-Dutch company liquefied natural gas assets in Australia and oil and gas fields in Kazakhstan and Brazil.
A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Houston-based Swift Energy struggling to raise loan for shoring up cash

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Oil prices have plunged 11 percent since a June 29 deadline for lenders to commit to the financing.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

Oil crash sent Canada into first-half recession, TD says

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The Bank of Canada will probably cut its 0.75 percent key interest rate for the second time this year at its July 15 meeting to revive growth, and not raise it until mid-2017. That will probably keep Canada’s exchange rate below 80 U.S. cents through this year, he said.
(AP Photo/Brennan Linsley)

Refracking is the new fracking

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America’s tight-oil production is set to peak in 2020, based on U.S. forecasts, but a technique known as refracking could keep output booming for longer by increasing the yield from old wells.
Siemens CEO Joe Kaeser (Getty Images)

Siemens said to need service sales boost to meet margin goal

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Chief Executive Officer Joe Kaeser, who is focusing Siemens on energy generation and distribution, last year spent $7.6 billion on acquiring oil and gas specialist Dresser-Rand Inc. to boost the company’s installed base of equipment and gain the associated lucrative service contracts.