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(Fayez Nureldine/AFP/Getty Images)

Saudi Arabia’s oil exports fell in 2014 in ‘tough year’

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Saudi Arabia will maintain output, Oil Minister Ali Al-Naimi said in December, according to the state-run Saudi Press Agency.
(AP Photo/Hussein Malla)

Oil rises to highest this year amid Libyan, Iraqi disruptions

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West Texas Intermediate oil for March delivery rose 75 cents from Friday’s settlement to $53.53 a barrel on the New York Mercantile Exchange.
T. Boone Pickens (Photo: Associated Press)

T. Boone Pickens’ energy holdings lost nearly half of their value in fourth quarter

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Oil’s more than 51 percent decline since June 20 has eroded profits and forced major producers and drillers to cut more than $40 billion in spending and fire 50,000 workers.
(PETER PARKS/AFP/Getty Images)

China considering merging state-owned oil companies

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The country’s leaders have asked government economic advisers to study the possible mergers, the Wall Street Journal said, citing unidentified officials familiar with the research.
(AP file photo/Hasan Jamali)

Saudi-Dow Chemical moving forward on $20 billion plant

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Saudi Arabia, the world’s largest crude exporter, started the petrochemical project in 2011 when oil averaged $111 a barrel.
Oil Barrel

Brent trades near two-month high

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Brent crude futures were little changed in London, paring an earlier increase of as much as 1.7 percent.
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Canada Pacific rail and Teamsters agree to arbitration, ending strike

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Canadian Pacific Railway and the Teamsters Canada Rail Conference agreed to go into mediated arbitration, ending a strike that began over the weekend, Labor Minister Kellie Leitch said.
As a result, Canada’s federal government will no longer be pursuing back-to-work legislation, Leitch said at a press conference in Ottawa on Monday. “The strike is over,” Leitch said. “My expectation is that people return to work quickly.”
(Ulf Bodin/Flickr)

Canadian National’s main line shuts after crude cars derail

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The train of 100 cars, all carrying crude from Canada’s oil-producing region of Alberta to eastern Canada, derailed just before midnight Saturday in a remote and wooded area about 30 miles north of Gogama, Ontario, Canadian National Railway nspokesman Patrick Waldron said in an e-mail
Yellow oil barrels

Brent crude settles over $60 a barrel in London

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West Texas Intermediate oil for March delivery advanced $1.57 to settle at $52.78 a barrel on the New York Mercantile Exchange.
(AFP PHOTO/US COAST GUARD/AFP/Getty Images)

BP loses bid for Transocean insurance in spill case

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The Texas Supreme Court says BP isn’t covered under Transocean’s insurance policy on the project that led to the 2010 Deepwater Horizon disaster.
Categories: Accidents, General