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Canadian Natural acquires Devon assets for $2.9B

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Canadian Natural Resources Ltd., the nation’s biggest producer of heavy oil, agreed to buy Devon Energy Corp.’s conventional oil and natural-gas fields in Canada for $2.86 billion in cash.
(Jacquelyn Martin/AP Photo)

Obama heads to Mexico amigos meeting strained by Keystone

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Canadian Prime Minister Stephen Harper’s frustration with U.S. PresidentBarack Obama’s failure to approve the Keystone XL pipeline may make this installment of the North America summit, known as the “Three Amigos,” the frostiest since the annual meetings began almost a decade ago.
A Sanchez Energy well in the Eagle Ford Shale. (Sanchez Energy)

Sanchez Energy shares drop after watery well report

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An Eagle Ford well yielded more water than oil.
Categories: Eagle Ford
(Cody Duty / Houston Chronicle)

Speculators bullish on US oil as Keystone’s southern leg eases glut

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Hedge funds became the most bullish on U.S. crude oil in more than five months as a new pipeline from Oklahoma to Gulf Coast refineries eased a supply bottleneck, driving prices above $100 a barrel.
(Billy Smith II/Houston Chronicle)

Enbridge reports first quarterly loss in two years on hedging

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Enbridge Inc., the largest transporter of Canadian crude to the U.S., reported its first quarterly loss in two years on hedging contracts.
CPS Energy's coal plant Deely. (Lisa Krantz / SAN ANTONIO EXPRESS-NEWS)

Coal burns brighter as utilities switch from natural gas

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Natural gas prices at a four-year high have utilities shifting to coal to generate 4.519 million megawatt-hours a day, the most since 2011, government data show.
NRG Energy has a carbon capture project at its W.A. Parish Power Plant in Fort Bend County. (For the Chronicle/Gary Fountain)

Carbon capture could raise wholesale energy price 80 percent

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Requiring the use of carbon capture and sequestration technologies at coal-fired power plants could increase the wholesale price of electricity between 70 percent and 80 percent, an Energy Department official said.
A ConEd repair truck the 14th street and Avenue C power plant in New York City. (Brian Ach/Getty Images)

Con Edison to calculate benefits of preparing utility for climate change

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Electric utility Con Edison will conduct an economic analysis to quantify the benefits of preparing its infrastructure for the impacts of climate change, a company official said Feb. 10.
Photo: NordNordWest

Iraq considers more actions against Exxon for Kurd oil venture

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Iraq is considering additional measures against Exxon Mobil Corp. over deals the company signed with the semi-autonomous Kurdish region, Deputy Prime Minister for Energy Affairs Hussain al-Shahristani said.
The Chinese flag blows in the wind as hundreds of people walk along the Bund boardwalk by the Huangpu river in Shanghai, China. (Paula Bronstein/MCT)

PetroChina parent finds enough gas to meet demand for two years

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China National Petroleum Corp., the country’s biggest oil and natural gas producer, discovered a natural gas reserve that is big enough to supply the nation’s needs for two years.
Categories: Asia, Natural gas