ConocoPhillips has previously made plans to pursue oil in Iran, but the company had no response Wednesday after Iran’s oil minister reportedly named the company as one that it wants to look for oil within the nation. More »
Royal Dutch Shell Plc, General Electric Co. and a company co-founded by T. Boone Pickens are planning investments in natural-gas-powered shipping as record U.S. output spurs the merchant fleet to use a new fuel. More »
Oil industry trade groups blasted the Obama administration’s plan to adopt a “targeted leasing” approach to selling drilling rights in Arctic waters near Alaska, saying it would dissuade companies from bidding on the acreage. More »
Iran indirectly challenged OPEC kingpin Saudi Arabia on Wednesday, announcing that it plans to pump as much oil as it can once sanctions on its crude exports are lifted, even if its extra output drives prices into the basement. More »
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 »
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