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Hedge funds in Chesapeake bond fight seek to end intervention

Hedge funds holding $250 million in Chesapeake Energy Corp. debt asked a judge to withdraw from litigation between the company and bond trustee Bank of New York Mellon Corp. over redemption of bonds.  More »

Shell shuts Gulf crude pipeline after leak

Royal Dutch Shell Plc shut a 170,000-barrel-a-day pipeline that moves Gulf of Mexico crude to Houma, Louisiana, after the pipe leaked in Terrebonne Bay in Louisiana.  More »

Russia lets China into arctic oil rush as energy giants embrace

Russia’s decision to give China a share of prized Arctic exploration licenses as part of a “breakthrough” deal signals how the world’s largest oil and gas producer and the biggest energy consumer are redrawing the global energy map.  More »

Rosneft tops Exxon with 5% of world oil

OAO Rosneft (ROSN)’s $55 billion takeover of TNK-BP creates an empire stretching from Russia’s Far East to Venezuela that pumps almost 5 percent of the world’s crude.  More »

Sinopec yearly profits fall

China Petroleum & Chemical Corp., Asia’s biggest refiner, joined PetroChina Co. in posting lower 2012 profits, as the nation’s largest energy companies look to overseas growth to counter the impact of price controls at home.  More »

Senator calls for explanation of ethanol’s volatile value

The value of ethanol RINs, certificates used by refiners and the EPA to show compliance with government biofuel mandates, reached a record $1.06 on March 8, data compiled by Bloomberg show.  More »

Judges challenge SEC rule on foreign oil payments

A U.S. Securities and Exchange Commission rule requiring public companies engaged in oil, natural gas or mineral extraction to disclose payments to foreign governments was questioned by appeals court judges, who asked whether the regulation violates companies’ free speech.  More »

Opinion: Keystone pipeline foes should face reality

Opponents of the Keystone XL oil pipeline warn of its potentially catastrophic consequences. Building it, climate scientist James Hansen says, would mean “game over” for the climate.  More »

Exxon says Dow LNG export plan has problems

Exxon Mobil Corp. (XOM), the biggest U.S. oil producer, said efforts by Dow Chemical Co. (DOW) to limit the country’s natural gas exports would create a price cap for the commodity.  More »

Energy nominee’s MIT gas study faulted over industry ties

The nominee, Ernest Moniz, who now is the head of the Massachusetts Institute of Technology’s Energy Institute, came out with its report in 2011 that said the environmental risks of increased drilling and production “are challenging but manageable.”  More »

Honghua seeks China shale gas asset, expansion with Baker Hughes

Honghua Group Ltd. (196), China’s biggest oil-drilling equipment exporter, is seeking to expand exploration services with U.S. partner Baker Hughes Inc. (BHI) and acquire a shale gas asset in China, Chairman Zhang Mi said.  More »

Pennsylvania judge orders records opened in fracking case

A Pennsylvania judge, handing a victory to local media and health groups, ordered documents unsealed in a settlement between gas-drillers and homeowners who accused the companies of contaminating their water.  More »

Newfield CEO seeks ’certainty’ in U.S. amid planned Asian sale

Newfield Exploration Co. (NFX), which is exploring the sale of its offshore assets in Malaysia and China, said it will be able to expand production more dependably by focusing on North America.  More »

19-year-old son of billionaire buys Siberian oil field

Arkady Abramovich, the 19-year-old son of Chelsea Football Club owner Roman Abramovich, bought a Siberian oil field, seven years after his father sold his Russian crude producer to OAO Gazprom for $13 billion.  More »

Chesapeake faces April trial over $1.3 billion bond call

Chesapeake Energy Corp. (CHK) and Bank of New York Mellon Corp. are scheduled to face off at trial beginning April 23 over the gas producer’s disputed claim it met a deadline to redeem $1.3 billion in bonds early at par, or 100 cents on the dollar.  More »