(Kristian Helgesen/Bloomberg)

Norway’s prime minister relieved as nation avoids crisis of sub-$45 crude

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Brent crude, the lifeblood for a nation that depends on petroleum for about 20 percent of its economic output, has rallied more than 40 percent since a Jan. 13 low of about $45.
(Paul O'Driscoll/Bloomberg News)

Shell agrees to sell its French LPG business

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Shell, which is increasingly focusing on oil and liquefied natural gas with its planned acquisition of BG Group, said it is in exclusive talks to sell its subsidiary, France-based Butagaz LPG, to Ireland-based DCC Group, which largely focuses on LPG distribution throughout Europe.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

Europe’s biggest oil refiner joins those predicting end of boom

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The surge in European refining margins, which jumped by the most in 4 years last quarter, cannot be sustained because the region still has surplus processing capacity.
OAO Lukoil's Leonid Fedun pauses during an interview at the company's headquarters in Moscow, Russia, on Wednesday, June 25, 2014. (Alexander Zemlianichenko Jr./Bloomberg)

Russia’s second largest oil company maintained its 1Q dividend, despite crashing crude prices

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The Moscow-based producer has cut spending for this year in response to the decline in oil, trimming expenditures on older Siberian wells and some international projects.
(Andrey Rudakov/Bloomberg)

Russia will meet with OPEC before the cartel’s next meeting in June

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Talks with the 12-nation group will take place on June 2-3, Energy Minister Alexander Novak said Tuesday in Moscow.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

Total’s profit fell 20 percent in first quarter, despite surging production

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CEO Patrick Pouyanne said Total is “demonstrating its resilience and profiting from its integrated model” in the face of a 50 percent drop in the average Brent crude oil price over the last year.
Business deal finalized, congratulations!

BP sells UK natural gas midstream assets

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BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

CERAWeek Commentary: American oil CEOs avoid climate change talk, while Euro counterparts take it head on

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No fewer than three U.S. oil executives attending IHS Energy CERAWeek have said government regulations need to be based on science, not public sentiment. Yet not one of them talked about the scientific consensus acknowledging global climate change.
Escalating political tensions that led to across-the-board federal budget cuts are putting a drag on the benefits of the oil and gas boom, CERAWeek panelists said. (Nick de la Torre/Houston Chronicle)

CERAWeek: Europe’s natural gas network is lacking, Eni boss says

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Europe’s natural gas markets have been handicapped by a lack of infrastructure, essentially creating many separate segments instead of one united market, CEO Claudio Descalzi told CERAWeek attendees.
Siemens CEO Joe Kaeser (Getty Images)

CERAWeek Q&A: Siemens CEO will focus on integrating acquisitions amid downturn

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Siemens AG CEO Joe Kaeser talked with FuelFix ahead of his CERAWeek presentation Wednesday about his continued faith in the oil and gas business and global crude demand.