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China to surpass US as top crude importer, OPEC says

China’s growing refining capacity will boost its demand for oil as America’s fracking boom cuts the need for foreign oil, OPEC said today.  More »

Shell to invest in energy technology companies with new venture

Royal Dutch Shell Plc (RDSA), Europe’s largest energy producer, set up a venture to invest in technology companies and venture-capital funds as oil and gas extraction becomes more costly and complex.  More »

Exxon developing excavation plan for Pegasus oil pipeline spill

Exxon Mobil Corp. (XOM) is developing an excavation and removal plan for a damaged section of its 96,000 barrel-a-day Pegasus crude pipeline, which was shut after a leak was discovered in Arkansas on March 29.  More »

India opens shale oil and gas for production

India will allow explorers, including Oil & Natural Gas Corp. and Reliance Industries Ltd., to produce shale oil and gas for the first time as Asia’s second-biggest energy consumer seeks to cut reliance on imports.  More »

Bahrain seeks more gas as it plans first LNG unit

Bahrain plans to boost output of natural gas by tapping deep reserves and build a terminal to import liquefied gas, the head of its state-owned energy investment holding company said.  More »

Japan to start world’s first LNG futures

Japan, the biggest buyer of liquefied natural gas, plans to list the world’s first futures contract for the supercooled fuel on the Tokyo Commodity Exchange within two years.  More »

Exxon to excavate Pegasus crude pipeline to find cause of leak

About 12,000 barrels of oil and water have been collected so far near Mayflower, Arkansas, after “a few thousand barrels were observed in the area,” the Mayflower Incident Unified Command Joint Information Center, which includes Exxon, Faulkner County and the city of Mayflower, said in a statement Sunday.  More »

Chesapeake names interim CEO

Chesapeake Energy Corp. picked Chief Operating Officer Steven C. Dixon to be interim chief executive as co-founder Aubrey K. McClendon steps down from the natural gas explorer he led for almost a quarter century.  More »

Diesel exports from US rising as plant maintenance winds down

Exports of diesel fuel from the U.S. Gulf Coast are poised to climb as refineries returning from maintenance boost production, widening the price gap between the Gulf and Europe.  More »

Gas rig count declines to near 14-year low

The U.S. gas rig count has shrunk to almost a fourth of its peak in September 2008 as a glut of domestic supplies pushed prices of the fuel down to 10-year lows and drove energy producers toward more profitable oil and liquids-rich plays.  More »

BP, Shell to drill for more reserves at offshore Clair field

BP Plc and its partners agreed to drill five additional wells at the Clair field west of Scotland’s Shetland Islands as Europe’s second-biggest oil company seeks to expand the giant discovery.  More »

Oil-demand plateau seen as natural gas favored

Oil demand may reach a plateau worldwide by the end of the decade as cars, trucks, railroad engines and power plants increasingly use natural gas instead, according to Citigroup Inc. analysts.  More »