People wave Russian flags as they look at Russian President Vladimir Putin delivering a speech on a screen on March 18, 2014, in Sevastopol.  (VIKTOR DRACHEV/AFP/Getty Images)

Gazprom pursues Russian shale boom ambitions amid U.S. sanctions

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Russia’s efforts to replicate North Dakota’s Bakken shale boom are being hindered by the U.S. ban on exports of equipment and technology after Vladimir Putin’s annexation of Crimea and the insurgency in Ukraine.
(Andrey Rudakov/Bloomberg)

Russian oil production surges in May ahead of OPEC meeting

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Global supplies have continued to outpace demand six months after the group adopted a policy aimed at keeping its market share. Saudi Arabia and Russia are both pumping oil at near record levels.
Patrick Pouyanné, CEO of French oil company Total, speaks at the IHS Energy CERAWeek in Houston. (Billy Smith II / Houston Chronicle)

European Big Oil opens schism on climate with U.S. rivals

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“It’s clear that the subject isn’t viewed in the same way on both sides of the Atlantic,” Total SA Chief Executive Officer Patrick Pouyanne, one of the signatories, said on Monday at a press conference in Paris. “We are working with those who come forward.”
(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.