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Petrobras spending on Pasadena refinery snares Brazil finance minister in scandal

Brazil’s top finance official is being roped into a growing scandal over Petroleo Brasileiro SA’s $1.19 billion purchase of a Texas plant, the latest in a string of troubles plaguing the company’s money-losing refining unit.  More »

Occidental’s $8 billion deal stalled by Muslim Brotherhood row

Occidental Petroleum Corp., seeking to raise as much as $8 billion by selling a stake in itsMiddle East business, said a political dispute in the region is complicating plans to sell to a single investor group.  More »

Rising utility costs lingering after winter’s chill fades

U.S. consumers got a glimpse of rising future utility bills during the winter as coal- and nuclear-plant shutdowns boosted reliance on natural gas.  More »

Kremlin partnership places BP at risk in Russia crisis

No business has as much at stake as BP Plc, as the crisis in the West’s relations with Russia escalates.  More »

Investigators complete report on Quebec oil-train disaster

Quebec police have finished and filed with authorities their investigation into the Lac-Megantic train disaster that killed 47 people and prompted backlash against the growing practice of transporting crude oil by rail.  More »

Billionaire sought by US holds key to Putin gas cash

A detained billionaire who made a fortune as a middleman in Russia’s murky gas trade with Ukraine may hold the key for U.S. lawmakers seeking harsher sanctions against President Vladimir Putin’s inner circle.  More »

Judge rules Anadarko emails don’t show fault in Gulf oil spill

Anadarko Petroleum Corp. (APC) officials urged BP Plc to drill deeper into the Gulf of Mexico well that caused the worst offshore oil spill in U.S. history even after BP warned that doing so would be unsafe.  More »

Private equity shifts shale strategy as land grab ends

For KKR & Co. (KKR) and Apollo Global Management LLC (APO), leaders of the biggest shale-field buyouts, the difference between failure and success may come down to 93 days.  More »

BP ends renewables energy target after $8.3B spend

BP Plc, recovering from an oil spill that may cost it as much as $42 billion, said it hasn’t set a new target for investing in renewable energy after funneling $8.3 billion into the business.  More »

Methanol as fuel substitute gets chilly US reception

Backers of using methanol from natural gas as a substitute for gasoline got a chilly reception from a federal official who said he is skeptical the fuel will gain widespread adoption for use in cars and trucks.  More »

SolarCity posts profit on rooftop demand, tax benefit

SolarCity Corp., the biggest U.S. solar power provider by market value, posted a profit in the fourth quarter as demand for rooftop power systems surged and a tax benefit boosted results.  More »

Texas biofuel maker’s stock falls after warning of possible bankruptcy

Kior Inc., the operator of the first U.S. commercial-scale cellulosic biofuel plant, fell the most on record after management told regulators they have serious doubts about staying in business.  More »