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Toronto based Trinidad Drilling Ltd. floorhand Julio Serrato (cq) works on the first drilling of the Reveille 1H Chesapeake Energy natural gas site in Fort Worth, Texas, USA, Monday, November 23, 2009. Chesapeake Energy drills on much of the Barnett Shale over North Texas and Oklahoma.


KKR’s Samson Resources files for bankruptcy amid oil bust

Samson’s filing is among the biggest energy bankruptcies in the U.S. this year, but it probably won’t be the last.
McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

Saudi Aramco names new CEO

Nasser, senior vice president for upstream until May, will become the fourth Saudi national to head Aramco since its inception in 1933.
A clean-up crew member stands reflected in a pool of crude oil, leaked from a burst pipeline in the Arava desert, during the clean-up operation in the Evrona nature reserve near Eilat, Israel, on Thursday, Dec. 25, 2014. Ten days after the Trans-Israel pipeline burst, flooding the Evrona nature reserve with 5 million liters of crude oil, Israel's acting Environmental Protection Minister Ofir Akunis told the Cabinet Dec. 14 that 90 percent of the oil had been removed and the danger of it spreading to the Red Sea had been averted. Photographer: Ariel Jerozolimski/Bloomberg

Goldman sees 15 years of cheap crude

Goldman cut its crude forecasts earlier this month, saying the global surplus of oil is bigger than it previously thought.
(Ty Wright/Bloomberg)

Consumer prices in U.S. drop in August on plunging energy

A 15 percent plunge in energy costs over the past 12 months and a rising dollar are acting as a brake on inflation that the Fed views as temporary.
Venezuelan President Nicolas Maduro (MIGUEL ANGULO/AFP/Getty Images)

Venezuela to push for OPEC to chase higher prices

The country seeks a fair price for oil that will support economic growth and energy demand, Oil Minister Eulogio Del Pino said in an interview at Tuesday’s meeting between Venezuela and Saudi Arabia officials in Caracas.
(Tomohiro Ohsumi/Bloomberg)

Gas markets are clamoring for more LNG ships

Hybrid ships, called Floating Storage and Regasification Units, or FSRUs, offer emerging nations from Egypt to Pakistan a cheaper, quicker way to attack power shortages by importing liquefied natural gas.
Categories: LNG, Markets
(AP Photo/Nabil al-Jurani, File)

Iraq asks oil companies to cut spending after drop in prices

OPEC’s second-largest crude producer is facing a slowdown in investment due to lower oil prices while fighting a costly war on Islamist militants who seized a swathe of the country’s northwest.
(Jason Alden/Bloomberg)

BP asks feds to drop market manipulation charges

FERC brought charges against London-based BP in August 2013. Traders at BP’s Southeast natural gas desk were accused of a scheme to lower next-day, fixed-price natural gas prices at the Houston Ship Channel hub from Sept. 18 through Nov. 30, 2008, to boost physical and financial bets.
(Photo: Woodside Petroleum)

Oil Search rejects Woodside’s $8 billion offer

Woodside’s bid of one share for every four Oil Search shares, which implied a 14 percent premium, was too low to win investors’ support.
(Spencer Platt/Getty Images)

Oil extends weekly drop

Futures slid as much as 2.5 percent in New York, after Thursday’s 4 percent gain.