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Simone Sebastian


Drivers cutting gasoline use, despite price drop

Gasoline demand dropped 3.7 percent over the first week of December, according to MasterCard’s gasoline report.
(Image: Fotolia)

Price plunge approaching for U.S. crude, BofA forecasts

West Texas Intermediate crude could drop below $50 a barrel in the next 24 months, the lowest level since 2009, BofA Merrill Lynch analysts project.
Sugarcane is harvested in Brazil for BP's Tropical ethanol plant, part of BP's biofuels expansion in the South American country. (Marc Morrison/BP)

BP expands Brazilian ethanol investment

The oil company will funnel another $350 million into Brazil’s sugarcane ethanol market, doubling the processing capacity of its Tropical plant.
David E. Roberts, Jr., Executive Vice President and Chief Operating Officer, Marathon Oil Corporation (credit: Marathon Oil)

Analysts surprised by Marathon Oil exec resignation

David E. Roberts will step down this week “to pursue other interests,” after 17 months as chief operating officer, Marathon Oil announced Monday.
(AP file photo/Pat Sullivan)

ConocoPhillips announces $15.8 billion capital budget

ConocoPhillips will funnel $15.8 billion into its capital spending program next year, largely targeting growth in North America and shale regions, the company announced Friday.
Money Roll

Energy corps among top beneficiaries from tax incentives

A New York Times report found Texas provides about $19 billion a year in business incentives, more than any other state by far.
Chevron hired an investment banker to gauge buyer interest in its Hawaiian operations.
(AP Photo/Lynne Sladky)

Chevron grows capital budget for 2013

Chevron announced a $36.7 billion capital budget for 2013, focused on expanding its oil and natural gas exploration and production activity, while allocating fewer dollars to its downstream arm.
(Photo: Fotolia)

North America will be energy independent, refining expert says

Hart Energy refining expert Terry Higgins says rapid growth of tight oil production in the U.S. will lead North America to petroleum independence within the decade, causing global oil prices to drop.
A crew works on a Marcellus Shale drilling rig to produce natural gas. (AP Photo/Keith Srakocic)

Natural gas will remain below $4 in 2013, S&P forecasts

With natural gas production continuing to rise, the commodity price will stagnate or decline next year, according to Standard & Poor’s Ratings Services projection.
(U.S. Development Group)

Plains pipeline company expands rail network in $500 million deal – Update

Plains All American Pipeline has agreed to buy five crude oil rail terminals, including one in the Eagle Ford shale in South Texas, from U.S. Development Group.