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Transocean maintenance showed negligence, engineer says

Transocean Ltd. (RIG)’s internal documents show the company failed to maintain the Deepwater Horizon, avoiding critical repairs and upkeep for years before the drilling rig burned and sank in the Gulf of Mexico in 2010, an engineer testified in the trial over fault for the disaster.  More »

Chesapeake may still make early call without as much risk

Chesapeake Energy Corp. (CHK) still has the option to issue a notice by today to redeem $1.3 billion in bonds early, at par, after a judge ruled it would probably win in court over any demand to pay $400 million in extra interest.  More »

Fracking may boost California economy 14%, study says

“Not only would state unemployment fall, but significant migration of properly skilled workers into California would occur,” a study by the University of Southern California concluded, after analyzing the potential impact of developing the state’s Monterey Shale.  More »

WTI rises after US jobless claims fall

West Texas Intermediate rose as the number of Americans filing applications for jobless benefits unexpectedly dropped last week. Brent’s premium to the U.S. benchmark grade widened for the first time in seven days.  More »

OPEC short-term output could rise on refining demand, analyst says

The Organization of Petroleum Exporting Countries could increase oil production by 850,000 barrels a day from April to June, Morgan Stanley said in the report published Thursday.  More »

U.S. oil output rises to highest level since July 1992

U.S. oil production last week rose to the highest level since July 1992, buoyed by increased drilling in oilfields including North Dakota’s Bakken shale and the Eagle Ford in Texas.  More »

N.Y. farmers oppose compulsory drilling law

At least 39 states have laws that allow some form of so-called compulsory integration, which forces landowners to sell oil and gas beneath their property. In New York, residents who oppose hydraulic fracturing are asking the state to do away with the law.  More »

Anadarko holds talks with Japan over Mozambique LNG supply

Anadarko Petroleum Corp. (APC) said it’s in talks with potential customers in Japan to buy supplies from a joint liquefied natural gas plant in Mozambique it’s planning with Eni SpA.  More »

OPEC in talks to replace Iranian oil supply to India

OPEC’s biggest oil producers are in talks to supply extra crude to India, as the nation prepares to halt purchases from Iran because of global sanctions, four people with knowledge of the matter said.  More »

Saudi Arabia’s shale plans may be slowed by lack of water

Saudi Arabia may need at least a decade to develop shale-gas production to a scale comparable to the U.S. because of the desert kingdom’s short supplies of water, state oil company officials said.  More »

Energy companies lose appeals court bid over parcel leasing

A group of oil and gas companies failed to persuade an appeals court to compel the U.S. to issue parcel leases on which they were the high bidders within 60 days of payment.  More »

Oil riding rails creates jobs as Buffett puffs chest

For all the debate over building the Keystone XL pipeline, the oil is moving without it.  More »

WTI oil narrows gap with higher-priced Brent

West Texas Intermediate, the benchmark price for U.S. crude, has been on the rise, narrowing its gap with the global benchmark Brent crude to the lowest level in five weeks.  More »

Opinion: Californians want oil’s tax revenue without the oil

The only thing California’s environmentally friendly Democratic legislators prefer to regulating private industry is spending public dollars. So it’s fascinating to watch them struggle with an unfolding dilemma.  More »

Argentina oil co. to ‘aggressively’ explore shale

YPF SA, Argentina’s largest oil company that was nationalized 11 months ago, is planning to boost capital investments by 60 percent as it “aggressively” explores shale, the chief executive officer said.  More »