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BHP Billiton CEO Andrew Mackenzie speaks at the IHS CERAWeek energy conference in Houston on March 4. (Houston Chronicle file)

BHP expects to book $4.9 billion writedown on U.S. shale assets

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‘”The dramatic fall in prices has led to the disappointing writedown,” Chief Executive Officer Andrew Mackenzie said.
Categories: Australia, Shale
An employees stands for a photograph near wind turbines manufactured by Gamesa Corp. at the Bharat Light & Power Ltd. Amberi wind farms in Rewalkawadi, Maharashtra, India, on Tuesday, Sept. 9, 2014. Prime Minister Narendra Modi's government in July restored a wind-farm tax benefit, which could propel wind installations to a three-year high of 2,600 megawatts in 2014, according to Bloomberg New Energy Finance. Photographer: Dhiraj Singh/Bloomberg

Renewables attracted record $329 billion of investment in 2015

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While oil companies such as Exxon Mobil Corp. and Royal Dutch Shell Plc eliminate jobs and curb capital spending to cope with prices that have fallen two-thirds in 18 months, renewables are enjoying a renaissance underpinned by rules designed to curb fossil-fuel emissions damaging the atmosphere.
(Plains All American)

Plains All American to raise $1.5 billion from equity sale

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Plains All American Pipeline plans to pay debt and fund new construction projects.
In the Port of Seattle Ships are unloaded. Photos by Kevin P. Casey for Bloomberg News

Tugboats left useless by U.S. shale boom finally have a job to do

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The surge in oil and gas output from U.S. shale drillers has the potential to transform world markets. At home, it’s left a chain of idle import facilities from the Northeast to the Gulf Coast, as energy companies pile onto the export bandwagon instead.
kinder morgan logo

British Columbia says Kinder Morgan hasn’t met pipeline conditions

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Kinder Morgan plans to almost triple the Trans Mountain line’s capacity to 890,000 barrels a day.
Categories: Canada, Pipelines
Iranian President Hassan Rouhani, left, greets Iraqi Foreign Minister Ibrahim al-Jaafari upon his arrival to the 29th International Islamic Unity Conference in Tehran, Iran, Sunday, Dec. 27, 2015. Rouhani accused Saudi Arabia Sunday of promoting poverty and terrorism by continuing to bomb Yemeni rebels and supporting armed rebels fighting to topple Syrian President Bashar Assad in Syria. (AP Photo/Vahid Salemi)

Iran president says sanctions could end in “days”

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Iran secured a nuclear deal with world powers in July to end the country’s political and economic isolation.
Oil workers pass a pumping unit, also known as a "nodding donkey" or pumping jack, left, at a drilling site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

Morgan Stanley: Oil could fall to $20 on dollar strength

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Brent crude capped its third annual decline in 2015 and has already lost more than 11 percent so far this year.
S-Oil Corp. refinery facilities operate at dawn in Ulsan, South Korea, on Thursday, Jan. 23, 2014. Saudi Arabian Oil Co. (Saudi Aramco), the world?s largest crude exporter, will buy a $2 billion stake in S-Oil Corp., South Korea?s third-largest oil refiner. Photographer: SeongJoon Cho/Bloomberg

Saudi Aramco’s refining empire could be IPO focus

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The kingdom owns, either directly or through joint-ventures, plants capable of processing 5.3 million barrels a day.
A Chinese investor gestures while standing in front of electronic displays showing stock prices in a brokerage house in Beijing, Friday, Jan. 8, 2016. Chinese stocks were volatile Friday and other Asian markets rebounded after a plunge in Chinese prices rattled global markets. (AP Photo/Mark Schiefelbein)

Oil falls near 12-year low amid volatility in Chinese markets

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Futures were steady, erasing earlier gains after China suspended an equity circuit breaker system, set a higher yuan reference rate and directed state-controlled funds to buy shares.
(Fayez Nureldine/AFP/Getty Images)

Shock, laughter greet plan for Saudi Arabia’s record oil IPO

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For one thing, Aramco’s inner workings are opaque, making its true value a mystery.