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Top News & Analysis Houston

  • March 10- Oil refiners shelled out a record over $2 billion to meet U.S. biofuels requirements in 2016, a 70 percent surge that helps fuel a growing debate over who should shoulder the costs for meeting environmental regulations. A Reuters review of regulatory filings from ten refiners, including Valero Energy Corp and CVR Energy Inc, showed that they paid $2.22...

  • OPEC members led by Saudi Arabia have reported nearly full compliance with output cuts announced last November, though performance remains very uneven across the group. OPEC enlisted support from 11 other countries to spread the burden of rebalancing and protect its market share but compliance from non- OPEC countries has been much lower.

  • HOUSTON, March 10- Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. Reductions in offshore production costs mean that some projects may be able to compete with North American shale fields, executives said at an energy conference in Houston this week. The recovery in the industry has so far been focused on onshore shale output...

  • *U.S. oil dropped below $50 on Thursday. West Texas Intermediate crude was up 17 cents, or 0.4 percent, at $49.45 a barrel at 0746 GMT. It fell below $50 on Thursday for the first since mid-December, when OPEC and other producers agreed to cut output.

  • *U.S. oil dropped below $50 on Thursday. West Texas Intermediate crude was up 37 cents, or 0.8 percent, at $49.65 a barrel at 0604 GMT. It fell below $50 on Thursday for the first since mid-December, when OPEC and other producers agreed to cut output.

  • HOUSTON, March 10- Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. Reductions in offshore production costs mean that some projects may be able to compete with North American shale fields, executives said at an energy conference in Houston this week. The recovery in the industry has so far been focused on onshore shale output...

  • *U.S. oil dropped below $50 on Thurs. West Texas Intermediate crude was up 40 cents at $49.68 a barrel at 0151 GMT. It fell below $50 on Thursday for the first since mid-December, when OPEC and other producers agreed to cut output.

  • CARACAS, March 9- A World Bank tribunal's order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled, a lawyer for the Venezuelan government said on Thursday. Venezuela had challenged the 2014 award with various arguments, including that a previous decision from Paris- based International Chamber of...

  • HOUSTON, March 9- Canada's Natural Resources minister said on Thursday night his government is ready to discuss changes to the North American Free Trade Agreement with the United States and Mexico. Minister Jim Carr said Ottawa's view is that trade agreements "every now and then should be refreshed," responding to questions about the trade pact at a media...

  • HOUSTON, March 9- Canada's Natural Resources minister said on Thursday night his government is ready to discuss changes to the North American Free Trade Agreement with the United States and Mexico. Minister Jim Carr said Ottawa's view is that trade agreements "every now and then should be refreshed," responding to questions about the trade pact at a media...

  • TOKYO, March 10- U.S. crude prices edged up on Friday after dropping below $50 per barrel for the first time since December in the previous session, pressured by concerns that a global supply glut is proving stubbornly persistent. The U.S. contract fell below $50 on Thursday for the first since mid-December, when OPEC producers and a group of other countries...

  • CARACAS, March 9- A World Bank tribunal's order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled, a lawyer for the Venezuelan government said on Thursday. Venezuela had challenged the 2014 award with various arguments, including that a previous decision from Paris- based International Chamber of...

  • *Investors from Asia, Mideast, Australia, eye pipelines. Dealmakers said they are advising funds, including from Asia, Australia and the Middle East, about potential investments that could bring billions of dollars of new capital to the sector. Peter Bowden, co-head of energy investment banking at Jefferies Group LLC, said major pipelines with long-term...

  • HOUSTON, March 9- A pipeline network with spare capacity could allow Mexico to export oil and gas from its flagship offshore Trion project to the United States, the head of Mexico's oil regulator said on Thursday. Other options for Trion production include building pipelines to the nearest ports, most likely Mexico's Tampico or Brownsville in Texas, or setting...

  • *Investors from Asia, Mideast, Australia, eye pipelines. Dealmakers said they are advising funds, including from Asia, Australia and the Middle East, about potential investments that could bring billions of dollars of new capital to the sector. Peter Bowden, co-head of energy investment banking at Jefferies Group LLC, said major pipelines with long-term...

  • LONDON, March 9- Royal Dutch Shell has agreed to sell most of its Canadian oil sands assets for $8.5 billion, the latest international oil major to withdraw from the costly and carbon-heavy projects. Shell is trying to sell assets totalling $30 billion to cut debt following its $54 billion acquisition of BG Group and is under investor pressure to mitigate...

  • WASHINGTON, March 9- The new head of the Environmental Protection Agency said on Thursday he is not convinced that carbon dioxide from human activity is the main driver of climate change and said he wants Congress to weigh in on whether CO2 is a harmful pollutant that should be regulated. In an interview with CNBC, EPA Administrator Scott Pruitt said the Trump...

  • *Saudis warn executives OPEC won't take hit for more shale supply. HOUSTON, March 9- Senior Saudi energy officials told top independent U.S. oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production from U.S. shale fields, two industry sources told Reuters on Thursday.

  • *Saudis warn executives OPEC won't take hit for more shale supply. HOUSTON, March 9- Senior Saudi energy officials told top independent U.S. oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production from U.S. shale fields, two industry sources told Reuters on Thursday.

  • HOUSTON, March 9- A pipeline network with spare capacity could allow Mexico to export oil and gas from its flagship offshore Trion project to the United States, the head of Mexico's oil regulator said on Thursday. Although a development plan has yet to be submitted, the consortium could use a cheaper and quicker option of getting production to the United States by...