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Keystone wait weighs on smaller oil producers

Growth prospects for smaller oil-sands producers including BlackPearl Resources Inc. (PXX) and Southern Pacific Resource Corp. (STP) are fading as political wrangling over the Keystone XL pipeline and rising U.S. supply slow deals in the Canadian energy industry.  More »

Chesapeake must face Ohio suit over royalties, court says

Chesapeake Energy Corp. must face an Ohio lawsuit over allegations the company underpaid gas royalties for years, an appeals court said, reinstating the case.  More »

Varco to Honghua vying for $9 billion of Russia oil rigs

Russia’s thirst for modern rigs able to drill in shale oil deposits heralds a $9 billion bonanza for manufacturers including National Oilwell Varco Inc. of the U.S. and China’s Honghua Group.  More »

Best OPEC discipline since 2011 no proof for $100 oil

OPEC’s best adherence to its production ceiling in 18 months is failing to buoy the outlook for crude oil prices, raising pressure on the group to pare supplies amid burgeoning U.S. output.  More »

LPG tanker rates rising near record in U.S. shale surge

Record global trade in liquefied petroleum gas, a result of increasing U.S. energy independence, is driving up rates for hauling the fuel on tankers at a time when most commodity shipping is losing money.  More »

Saudi minister calls current oil market ‘best environment’

Saudi Arabia, the world’s largest crude exporter, is content with current conditions in the oil market, the kingdom’s petroleum minister said three days before OPEC members meet to assess the group’s output policy.  More »

Oil-market rigging may have caused ‘huge damages,’ official says

Suspected oil-price manipulation may have caused “huge damages,” the European Union’s antitrust chief said today, as he drew comparisons with EU investigations into rigging of bank rates including Libor.  More »

German beer purity threatened by fracking say brewers

German brewers called on Chancellor Angela Merkel’s government to block the tapping of shale gas by means of hydraulic fracturing, citing industry concerns that fracking could taint the purity of the country’s beer.  More »

Woodside seeking $5 billion investments in projects globally

Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, is looking to make investments of about $5 billion in projects globally as development costs at home remain high.  More »

Total selling stake of Angola offshore oil block to Sonangol

Total SA (FP), France’s largest oil producer, is selling a stake in an exploration block off Angola to state petroleum company Sonangol Pesquisa e Producao SA as part of an asset-disposal program.  More »

Chevron lends Venezuelan oil venture $2 billion for output boost

Petroleos de Venezuela SA, the country’s state-owned oil producer, signed a $2 billion financing agreement with San Ramon, California-based Chevron Corp. (CVX) to increase output at their Petroboscan oil joint venture.  More »

InterOil in talks with Exxon on developing natural gas fields

InterOil Corp., the Australian energy company with licenses to explore about 3.9 million acres, said it entered exclusive talks with Exxon Mobil Corp. to develop natural gas fields in Papua New Guinea.  More »

BP, Shell, Statoil face U.S. lawsuit after EU oil price probe

The three oil producers under investigation by the European Commission for manipulating oil prices are being sued in a class-action lawsuit in the U.S.  More »

Crude landlocked as Canadians join U.S. to halt pipelines

British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers.”  More »

Statoil’s Castberg oil project undermined by Norway tax increase

Statoil ASA (STL), Norway’s biggest energy company, said its plans for the Johan Castberg oilfield in the Barents Sea are being undermined by unexpected regulatory changes that threaten to limit development in the far north.  More »