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(AP Photo/Greg Baker)

PetroChina, Sinopec surge on industry merger speculation

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China National Petroleum Corp., the state-owned parent of PetroChina, hasn’t received any information from the government, nor has it spoken with Sinopec about a merger, Media Director Gong Kai said.
In this photo released by Saudi Press Agency, Deputy Crown Prince of Saudi Arabia, Prince Muqrin bin Abdulaziz Al Saud, front, receives Venezuelan President Nicolas Maduro, center, at the King Khalid International Airport in Riyadh, Saudi Arabia, Sunday, Jan. 11, 2015. (AP Photo/SPA)

Saudi prince sees ‘excellent’ oil market as kingdom meets demand

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“We will supply any demand for Saudi oil, as we are interested in the stability of the market,” Prince Abdulaziz said.
(AP file photo/John Moore)

Saudi Arabia’s solution to global oil glut: Pump even more crude

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The world’s biggest oil exporter now has incentive to maximize output and undermine rival producers by using its reserve capacity.
(Daniel Acker/Bloomberg)

Oil at $65 seen freeing 500,000 barrels from shale fracklog

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Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal.
(Eddie Seal/Bloomberg)

Weatherford sees bottom of ‘miserable’ North America results

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Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report.
Business deal finalized, congratulations!

BP sells UK natural gas midstream assets

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BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.
Transocean's Discover Seven Seas

Transocean names new CEO

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Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Energy Secretary Ernest Moniz (AP Photo/Pablo Martinez Monsivais)

Energy Department: The U.S. energy grid needs $15 billion in upgrades

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Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes.
(Daniel Acker/Bloomberg)

World’s biggest oil trader says crude price can’t drop much more

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Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview.
(AP photo/Brennan Linsley)

Encana said to explore sale of Haynesville gas properties

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Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate.