Smoke erupts from the scene of a train derailment Thursday, March 5, 2015, near Galena, Ill. A BNSF Railway freight train loaded with crude oil derailed. (AP Photo/Telegraph Herald, Jessica Reilly)

BNSF freight train with crude oil derails near Illinois city

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According to railroad officials, the train derailed around 1:20 p.m. Thursday in a rural area where the Galena River meets the Mississippi.
(Daniel Acker/Bloomberg)

Statoil agrees to pay $2 million for illegal well in North Dakota

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Authorities say the well was drilled in December 2011 on unleased federal land about two weeks after Statoil Oil & Gas Services Inc. acquired Brigham Oil & Gas L.P.
(AP Photo/Hussein Malla, File)

Libya says 11 oil fields non-operational after Islamic State attacks

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The National Oil Corporation blamed authorities in the Libyan-capital of Tripoli, set up by Islamist-backed militias, for failing to protect the oil fields.
(Rovanto/Flickr)

Volatile Bakken crude expected to keep flowing through Texas

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AUSTIN – Despite falling oil prices, production cutbacks and persistent safety concerns, rail officials plan to continue shipping millions of gallons of volatile crude oil from the Bakken region of North Dakota through Texas, according to updated records provided by state officials on Wednesday. Average weekly volumes reflect little change from a first batch of […]
Sen. Chuck Schumer, D-N.Y.   (AP Photo/J. Scott Applewhite)

Senator wants tougher rules for volatile oil moved by rail

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Sen. Charles Schumer wants federal regulators to require crude to be stripped of volatile compounds before it is loaded into rail cars criss-crossing the country.
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.
(Karen BLEIER/FILESKAREN BLEIER/AFP/Getty Images)

Exxon Mobil raises $8 billion in its largest bond offering

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Exxon holds top triple-A credit ratings from Moody’s Investors Service and Standard & Poor’s, making it one of only three U.S. corporations that stand on nearly equal footing with governments in debt markets.
Crude Oil Caps Biggest Weekly Increase In Two Years On Libya Unrest

Crude inventories at their highest level in decades after another build

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Total crude oil inventories now stand at 444.4 million barrels, a modern-era high.
Rex Tillerson, chairman, president, and CEO of ExxonMobil Corp. ( Johnny Hanson / Houston Chronicle )

Exxon Mobil to cut 2015 budget by 12 percent

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Despite the cuts, Exxon said it expects to increase daily production to 4.3 million oil-equivalent barrels through 2017.
(AP Photo/Hussein Malla, File)

Libyan official: Islamic State militants attack oil field

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The militants swept down from the central city of Sirte and attacked the al-Dhahra oil field to the south, trading fire with guards and blowing up residential and administrative buildings before eventually retreating.