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Repsol seeks to block Chevron deal with YPF

Repsol SA (REP) is asking a World Bank panel to help prevent Argentina’s YPF SA from developing assets seized from the Spanish oil producer after Chevron Corp. agreed to invest $1.24 billion in a shale venture in the country.  More »

Dow Chemical earnings top estimates after gains at plastics unit

Dow Chemical Co., the largest U.S. chemical maker by revenue, posted second-quarter earnings that beat analysts’ estimates after improved transportation and packaging demand helped its plastics unit.  More »

Biofuel makers seek to ease mandates to avert congress

Makers of some renewable fuels are asking the federal government to ease quotas for use of their products in a bid to head off a congressional overhaul of a program that refiners say is driving up costs at the pump.  More »

Baker Hughes says feds have opened antitrust probe of fracturing

The company received a Civil Investigative Demand from the Justice Department.  More »

Chevron to promote shale drilling in Europe

Chevron Corp. (CVX) is betting it can win over eastern Europeans with the idea of energy independence even after dry wells and government delays led Exxon Mobil Corp. and Talisman Energy Inc. (TLM) to scrap efforts to tap natural gas deposits in Polish shale.  More »

Abu Dhabi boosts oil output in $40 billion plan

Abu Dhabi National Oil Co. is pumping about 1.5 million barrels of crude a day from its main onshore fields and is halfway through a planned $40 billion investment plan, company officials said.  More »

Demand for OPEC crude will tumble, EIA says

OPEC, excluding Iran, made $982 billion from exporting oil in 2012, the most in 38 years of data, the U.S. Energy Information Administration reported today. It forecast that sales will drop in 2013 and 2014.  More »

Tullow says wells in Mozambique, French Guiana fail to find oil

Tullow Oil Plc (TLW), a U.K. oil and gas explorer, said wells in Mozambique and French Guiana failed to make discoveries.  More »

TransCanada rebuffs EPA’s call for Keystone clean energy

The U.S. Environmental Protection Agency says TransCanada Corp. (TRP) should be required to buy renewable power to run pumps along the route of its proposed Keystone XL pipeline, a measure the company said is unworkable and unnecessary.  More »

Nigerian lawmakers want Shell, Eni oil block award revoked

Nigeria should revoke oil rights for which Royal Dutch Shell Plc (RDSA) and Eni SpA (ENI) paid $1.1 billion, a parliamentary committee said, alleging that the acquisition process was “highly flawed.”  More »

Keystone risk worries U.S. oil sands investors

U.S. investors cut stakes in oil-sands stocks, including Suncor Energy Inc. (SU) and Cenovus Energy Inc., as delays to the Keystone XL project and the lack of pipeline capacity depressed Canadian crude prices.  More »

US Gulf oil profits lure $16 billion more rigs by 2015

The deep-water Gulf of Mexico, shut down after BP Plc (BP/)’s record oil spill in 2010, has rebounded to become the fastest growing offshore market in the world.  More »

Opinion: Lift the ban on U.S. oil exports

The last time serious talk about exporting oil was heard in Washington, the Soviet Union still loomed, the Reagan Revolution had yet to take place and the National Basketball Association had an equitable distribution of talent.  More »

Israel’s deepest well targets 1.5 billion barrels of oil

The deepest oil well drilled in Israel’s 65-year history may be the most important.  More »

Temasek racing Exxon to build biggest LNG terminal stash

A Temasek Holdings Pte unit is up against Exxon Mobil Corp. (XOM) and Royal Dutch Shell Plc (RDSA) in a contest to fill storage tanks that will hold three times as much liquefied natural gas as Singapore will consume this year.  More »