Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
(AP file photo/Paul Sakuma)

Industry giant GE aims to improve fracking

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One of America’s corporate giants is investing billions of dollars in the new boom of oil and gas drilling, or fracking. General Electric Co. is opening a new laboratory in Oklahoma, buying up related companies, and placing a big bet that cutting-edge science will improve profits for clients and reduce the environmental and health effects of the boom.
Japan Earthquake

Japan vows to tighten nuke safety after accident

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Japan pledged better safety practices for its troubled nuclear industry Tuesday after an accident at a government research facility that exposed 33 people to minor excess radiation and had not been immediately disclosed.
Categories: Nuclear
(Photo: Woodside Petroleum)

Woodside seeking $5 billion investments in projects globally

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Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, is looking to make investments of about $5 billion in projects globally as development costs at home remain high.
Categories: Deals
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

Total selling stake of Angola offshore oil block to Sonangol

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Total SA (FP), France’s largest oil producer, is selling a stake in an exploration block off Angola to state petroleum company Sonangol Pesquisa e Producao SA as part of an asset-disposal program.
Categories: Deals

US taxman peers into holiday rental flats

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City residents who seek to top up their income by letting out their homes to holidaymakers are falling foul of local regulations and tax laws
Categories: Uncategorized

Brussels agrees to lift Syria arms embargo

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Russia says failure to renew the arms embargo undermines the chances for peace talks that Moscow and Washington are trying to organise
Categories: Uncategorized

Five Star Movement flops in Italy polls

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Beppe Grillo’s anti-establishment group fails to repeat its success of February’s general elections, as support for the Five Star Movement collapses
Categories: Uncategorized
(Image: Fotolia)

Chevron lends Venezuelan oil venture $2 billion for output boost

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Petroleos de Venezuela SA, the country’s state-owned oil producer, signed a $2 billion financing agreement with San Ramon, California-based Chevron Corp. (CVX) to increase output at their Petroboscan oil joint venture.
Categories: General, Latin America

Malnourishment cost estimated at $125bn

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The risk to children causes a serious ‘brake’ on progress in emerging economies, charity says in its study, which monitored 3,000 infants
Categories: Uncategorized

Trident UK’s best option, says review

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Long-awaited Alternatives Review to conclude next month that other proposals are more costly or impractical, threatening to provoke a coalition split
Categories: Uncategorized

German blow to EU action against China

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Berlin’s resistance has undermined position of trade commissioner De Gucht as he confronts Beijing in the EU’s biggest ever trade investigation
Categories: Uncategorized
Construction workers at Exxon Mobil's Houston campus, which is under construction near The Woodlands gather inside one of 20 buildings under construction there as of April 2, 2013. Crews there have worked a combined 7 million hours without an injury that required a worker to miss a day, the company said. (Photo: Exxon Mobil Corp.)

Exxon Mobil shareholders to meet amid criticism

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Exxon Mobil shareholders will meet this week in Dallas amid growing criticism for the company and its policies, particularly related to gay employees and climate change.
Categories: Environment, Workforce