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An oil tanker, right, cruises past a new liquefied natural gas tanker at the Cheniere terminal in Cameron Parish, La. (Michael Stravato/The New York Times)

Flotilla of European gasoline tankers fuels U.S. driving binge

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Surging demand and rising prices for gasoline in the U.S. are luring about double the number of tankers compared with 2014, boosting shipping rates to the highest seasonal levels in seven years.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

AS Canada’s oil patch faces more job losses, robots add to the misery

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The burgeoning use of robots is one more reason there probably won’t be a quick jobs rebound in Canada’s energy industry as it grapples with cheap crude, tougher environmental controls, higher taxes and elevated costs.
In this Jan. 24, 2015 file photo, Saudi Arabia's King Salman attends a ceremony at the Diwan royal palace in Riyadh. (AP Photo/Yoan Valat, Pool)

Saudi king plans U.S. trip after giving Iran deal hedged support

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After private meetings in Jeddah on the Red Sea coast, Defense Secretary Ashton Carter told reporters that King Salman and his defense minister “reiterated their support” for the deal to curb Iran’s nuclear program while expressing reservations about its enforcement.
In this Thursday, Jan. 28, 2010 file photo, A worker walks past tanks at a Petrochina storage base in Suining, in southwest China's Sichuan province. (AP Photo)

ConocoPhillips halts Sichuan shale gas talks with PetroChina

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While China has sought to replicate the U.S. shale boom, the nation last year cut its 2020 shale gas production target to about a third of its original estimate amid difficult geology, lack of infrastructure and limited exploration rights.
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

U.A.E. cuts fuel subsidy as oil crash hammers Arab economies

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“There was no reason to subsidize in a country that is as rich as the U.A.E.,” said Nasser Saidi, former chief economist at Dubai International Financial Centre and head of Nasser Saidi and Associates.
(Andrey Rudakov/Bloomberg)

Russia faces longest recession in decades with plunging oil

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Oil jitters will test the optimism of President Vladimir Putin, who’sdeclared that Russia had put the worst of the economic crisis behind it
(Photo by Eddie Seal for Bloomberg News)

Wall Street lenders growing impatient with U.S. shale revolution

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Bank regulators have issued warnings on the risks involved in lending to U.S. drillers, threatening a cash crunch in an industry that’s more dependent than ever on other people’s money.
An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

Iran seeks to regain oil market share regardless of price

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The Persian Gulf producer plans to restore output to the level it achieved before the economic curbs crippled production and exports, Oil Minister Bijan Namdar Zanganeh said Monday in Tehran.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Mexico’s only oil winners backed by Riverstone, BlackRock

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Sierra Oil & Gas, poised to become Mexico’s first private crude producer in seven decades, has never drilled a well.
Private oil companies soon could partner with Mexico's Pemex on operations like this in the Bay of Campeche. (Susana Gonzalez photo/Bloomberg)

Big Oil to battle for Mexico’s deep crude after auction snub

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International energy producers that sat out Mexico’s historic oilfield auction this week will be among the fiercest competitors for potentially massive deepwater prospects that go up for sale as soon as next month.