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Mexico Senate proposal: broadly open country’s oil sector to private firms

The proposal goes much further than the plan introduced by President Enrique Pena Nieto in August, which only allowed profit-sharing agreements but not arrangements for sharing oil.  More »

BP investors can’t sue as group over losses, judge says

BP ’s U.S. investors can’t pursue as a group claims that the company inflated its shares with misleading statements before and after the Gulf of Mexico oil spill, a judge ruled, citing a recent Supreme Court decision.  More »

The Pretense of Knowledge and Hubris, and Predictions of Dread

In accepting the Nobel Prize in economics, Frederich Hayek’s remarks dealt with the The Pretense of Knowledge. Those remarks included prescient observations about the consequences of actions that do not reflect the limits of knowledge. “If man is not to do more harm than good in his efforts to improve the social order, he will […]  More »

Baker Hughes cuts Brazil staff as Halliburton wins contracts

Baker Hughes, the world’s third largest oilfield services provider, is reducing its workforce in Brazil after losing contracts with Petroleo Brasileiro SA to competitor Halliburton Co., an oil union said.  More »

Oil rises on manufacturing numbers from U.S., China

Benchmark U.S. crude rose 1.2 percent to $93.82.  More »

Ex-BP engineer who deleted texts heads to trial

Nearly a year after energy giant BP cut a deal to a resolve a criminal investigation of its role in the nation’s worst offshore oil spill, a jury is set to hear the Justice Department’s case against a former company employee accused of trying to stymie the federal investigation.  More »

Airline joins battle over biofuels

A refinery owned by Delta Air Lines has joined the battle against a government mandate to blend renewables into fuel supplies.  More »

Pioneering offshore wind project faces deadlines

As it seeks investors, a project off the Massachusetts coast that aims to be the nation’s first offshore wind farm must reach fast-approaching benchmarks or risk missing out on hundreds of millions in critical funding.  More »

Oil edges up in thin post-holiday trade

Crude for January delivery rose 42 cents to close at $92.72 a barrel  More »

PetroChina to buy 25 percent stake in Exxon field in Iraq

PetroChina Co. agreed to buy a 25 percent stake in Iraq’s West Qurna 1 field from Exxon Mobil Corp.  More »

Repsol to begin talks with Argentina over YPF settlement

In a meeting Wednesday , board members “analyzed and valued positively” a proposal brokered by the governments of Spain and Argentina, the Madrid-based oil company said in a filing.  More »

Russia: Last Greenpeace detainee granted bail

A Russian court has granted bail to the last of 30 Greenpeace activists who were detained at sea during a protest against oil drilling in the Arctic.  More »