(Eddie Seal/Bloomberg News)

Tourmaline hunts for energy deals as rivals dump assets

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Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.
(AP Photo/Xinhua, Jin Liangkuai)

CGG open to Technip partnership after spurning takeover approach

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CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
Duke Energy employees work on power lines in Charlotte, N.C.  AP Photo/Chuck Burton, File)

Duke Energy to settle lawsuit over CEO ouster

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Bill Johnson’s ouster was “the most blatant example of corporate deceit that I have witnessed during a long career on Wall Street,” John Mullin III, the former lead director of Progress Energy, said at the time.
ExxonMobil Chairman and CEO Rex Tillerson (AP/Haraz N. Ghanbari)

Exxon CEO: Get used to lower oil prices

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Speaking at the company’s annual investor meeting in New York, Tillerson cautioned that geopolitical turmoil could unexpectedly send prices higher.
A Petronas logo is seen near its twin towers in Kuala Lumpur, Malaysia.  (AP file photo/Lai Seng Sin)

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

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Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.
A worker walks through Lyondell Chemical's complex  in Channelview, Texas. (AP fiel photo/David J. Phillip)

LyondellBasell announces CFO’s departure

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Chemical maker LyondellBasell said Tuesday it will part ways with chief financial officer Karyn Ovelmen.
Former Chesapeake CEO Aubrey McClendon (Gary Fountain/Houston Chronicle)

Chesapeake Energy sues founder, former CEO McClendon

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The lawsuit alleges McClendon took “confidential information and trade secrets from Chesapeake.”
Ryan Lance, chairman and CEO of ConocoPhillips ( Marie D. De Jesús / Houston Chronicle )

Oil budgets slashed to protect shareholder dividends

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The spending cuts, which will result in production decreases and job cuts, come as oil giants try to protect quarterly dividends paid to their investors.
BG Group CEO Helge Lund (Andrey Rudakov/Bloomberg)

BG Group’s new CEO Lund starts three weeks early amid oil crash

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Norway’s Statoil ASA, which Lund led until October last year, agreed last week to release him from his contractual commitments, BG said in a statement today.
“It’s not the end of the world,” says  CEO Aldemir Bendine.  (AP Photo/Eraldo Peres, File)

Brazil’s Petrobras names state banker as new CEO

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The selection of Aldemir Bendine, announced on Petrobras’ website, failed to impress some analysts, who described the banker as “underwhelming.” Shares of Petrobras dropped 6.9 percent in trading Friday.