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Photographer: Jean-Pierre Pingoud/Bloomberg News

Oil slumps to six-year low as U.S. production seen filling tanks

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Oil slumped for a fourth week after government data showed U.S. output and stockpiles expanded to the highest levels in more than three decades.
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

U.S. appeals part of ruling in BP spill case

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The judge’s decision that shaved more than $4 billion off the maximum pollution penalties BP must pay.
Categories: Gulf oil spill
(AP Photo/Xinhua, Jin Liangkuai)

CGG open to Technip partnership after spurning takeover approach

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CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
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IEA sees China, India filling strategic reserves with cheap oil

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The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.
Photographer: Ty Wright/Bloomberg

Oilfield safety a concern as companies cut costs during downturn

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The oil and gas industry saw 112 workers die in 2013, the latest figures available from the U.S. Bureau of Labor Statistics. That’s up 31 percent from 2003. Meanwhile, producers and drillers doubled their workforce in the same period, to 507,000.
(Kimberly White/Bloomberg News)

Fuel-thirsty California looks to Eastern Canada, Asia for supply

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Tankers are bound for California after a spate of refinery shutdowns that propelled the premium for the state’s special blend of gasoline to a seasonal record.
Photographer: Rich Press.

How Europe’s oil companies are profiting from the slump

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Although better known for their oil fields, refineries, and petrol stations, BP Plc, Royal Dutch Shell Plc and Total SA are also the world’s biggest oil traders.
This July 8, 2013 file photo provided by Surete du Quebec, shows debris from a runaway train in Lac-Megantic, Quebec, Canada. (AP Photo/Surete du Quebec, The Canadian Press,File)

Trains carrying crude in Canada to face tougher safety standards

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The latest Transport Canada proposals, published online Wednesday, go beyond earlier announcements by requiring rail cars carrying crude to have thicker steel, full “head shields,” mandatory thermal “jacket” protection among other upgrades.
(Jeff Pachoud/AFP/Getty Images)

Europe refiners’ gasoline profit at 10-month high on exports

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Gasoline’s crack, or premium to Brent crude, rose to $13.46 a barrel on Tuesday, the highest since April 29, according to PVM Oil Associates Ltd, one of the largest brokers for the fuel, before falling to $13.13 at 1:21pm London time.
A Petronas logo is seen near its twin towers in Kuala Lumpur, Malaysia.  (AP file photo/Lai Seng Sin)

Petronas prepares $7 billion bond as borrowing costs soar on oil

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Petronas is issuing into Asia’s worst dollar-bond market this year amid a global slump in oil prices and debt concerns surrounding a Malaysia-backed investment firm.