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(AP Photo via militant video)

Militants fly their black flags over Iraq refinery

Sunni militants hung their black banners on watchtowers at Iraq’s largest oil refinery, a witness said Thursday, suggesting insurgents have ever-increasing stranglehold on the vital facility.
A Chevron production platform and Transocean's Discoverer Deep Seas drillship are working on the Tahiti field, below 28,000 feet of water and earth in the deepwater Gulf of Mexico. (Simone Sebastian/Houston Chronicle)

Gulf of Mexico will be strongest offshore market, analysts say

Researchers at the International Strategy and Investment Group forecast that the number of deepwater rigs will grow from 36 to 60 by 2015.