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Petrobras’s biggest oil discovery brings cost concerns

Investors in Petroleo Brasileiro SA (PBR), the world’s most indebted oil company, aren’t celebrating Brazil’s biggest-ever crude discovery.  More »

Centrica said close to buying U.K. shale from Cuadrilla

Centrica Plc (CNA) is close to buying a stake in shale gas fields in England, a person with knowledge of the matter said, placing the U.K.’s largest energy supplier at the center of efforts to start producing the fuel.  More »

Biofuel maker Cool Planet Energy raises $29.9 million

Cool Planet Energy Systems Inc., a closely held biofuel developer, raised about $29.9 million to build its first production facility, Chief Financial Officer Barry Rowan said.  More »

Devon plans to form master-limited partnership for midstream

Initial proceeds from an MLP may be $300 million to $500 million.  More »

Nabors board rejects 2 director resignations after vote

Shareholders also rejected a proposal to separate Tony Petrello’s dual role of chairman and chief executive officer.  More »

Maximino field to be largest yet in Mexican Perdido, Pemex says

By Carlos Manuel Rodriguez and Brendan Case Bloomberg News Petroleos Mexicanos’s Maximino field will probably be the largest oil discovery on the Mexican side of the Perdido basin, the state-owned oil producer said. Final test results on the field are expected within weeks, said Carlos Morales, the exploration and production chief at Pemex, as the […]  More »

Reliance to spend $26 billion over 3 years to expand businesses

Reliance Industries Ltd. (RIL)’s billionaire Chairman Mukesh Ambani plans to spend 1.5 trillion rupees ($26 billion) over the next three years to expand business ranging from gas production to telecommunications.  More »

Schools addressing students’ fossil fears without divesting

Divesting university endowment holdings from fossil fuel companies may be technically and financially difficult, and schools considering doing so in response to student campaigns may want to consider alternatives, investment professionals say.  More »

French fracking ban should be eased to assess shale reserves

France’s ban on hydraulic fracturing should be eased to estimate the size of its shale oil and gas reserves, according to a parliamentary report.  More »

Canada oil output will double by 2030, if pipelines built

Canada’s crude output will more than double to 6.7 million barrels a day by 2030, provided new pipelines such as Keystone XL are built to transport growing oil-sands production, an industry group representing the country’s petroleum producers said.  More »

U.S. crude output exceeds imports for first time in 16 years

U.S. domestic crude-oil production exceeded imports last week for the first time in 16 years, a government report showed today.  More »

Oil companies’ retreat from Poland shale gas could be mounting

Poland’s Cabinet Committee will tomorrow discuss a decree to ease rules that slow shale gas exploration as local media reported Chevron Corp. may join Exxon Mobil Corp. and Talisman Energy Inc. in leaving the nation.  More »

Statoil delays Castberg oil project amid unexpected tax rise

Statoil ASA (STL) delayed the investment decision for the Johan Castberg oilfield in the Barents Sea amid uncertainty over costs and resources and after the government unexpectedly raised taxes on oil and gas producers.  More »

French fracking ban endorsed on U.S. environmental repercussions

France’s ban on hydraulic fracturing should not be eased because the oil and gas drilling technique is causing “considerable” environmental damage in the U.S., according to a government minister.  More »

Climate benefits from natural gas seen hinging on plugging leaks

Leaks in the production and delivery of natural gas threaten to undermine the benefits to the climate from expanded use of the fuel in manufacturing, transportation and appliances such as heaters, according to a report.  More »