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Statoil CEO warns ballooning costs may hamper recovery goals

Surging costs for drilling and maintenance risk hampering Statoil ASA’s goal to boost the recovery rate at its Norwegian offshore oil fields to 60 percent, Chief Executive Officer Helge Lund said.  More »

Lukoil to build $30 billion cash pot after debt freeze

At Russia’s largest private-sector oil company, the Ukraine crisis is forcing a change of strategy.  More »

Goldman says shale gas boom driving fear from market

Fears of gas shortages have dissipated since 2005. The U.S. Energy Information Administration forecasts natural gas prices will average below $5 through 2023 and less than $6 until 2030.  More »

Koch to start European power trading as it plans LNG expansion

Koch Supply & Trading will start buying and selling European electricity and expand its liquefied natural gas business to take advantage of a globalizing market for the fuel.  More »

Crumbling US grid gets jolt driving smart Houston power

When fully deployed, CenterPoint’s intelligent grid will give the utility unprecedented control and insight into its almost 50,000 miles of power lines and systems.  More »

France sells stake in GDF to raise $2 billion for Alstom

France sold a $2 billion stake in GDF Suez SA, the country’s largest natural-gas distributor, as it seeks cash to buy a holding in Alstom SA.  More »

Rooftop solar leases scaring buyers when homeowners sell

For people who own rooftop power systems, solar adds value to the home. Leased systems are another story.  More »

Keystone pipeline path illegal, foes tell Nebraska court

Nebraska landowners opposed to the proposed $5.4 billion Keystone XL pipeline urged the state’s highest court to uphold a judge’s ruling invalidating the route mapped by Governor Dave Heineman and TransCanada Corp.  More »

Statoil strikes out in well at center of Greenpeace standoff

Statoil ASA failed to find oil in the northernmost site ever drilled off Norway’s Arctic tip.  More »

LNG rally fading on new supplies to Asia

The three-year rally in liquefied natural gas is cooling as Asia-Pacific supplies jump and demand slows from Japanese utilities preparing to restart nuclear reactors.  More »

Nuclear regulators ‘overwhelmed’ as China races to launch world’s most powerful reactor

China is moving quickly to become the first country to operate the world’s most powerful atomic reactor even as France’s nuclear regulator says communication and cooperation on safety measures with its Chinese counterparts are lacking.  More »

Half-price Kurd oil threatens Iraq breakup with Turkish help

A tanker containing a million barrels of crude oil is floating around the Mediterranean, and its cargo is available at half-price. Yet if any country seizes the bargain, it may be pushing Iraq closer to disintegration.  More »