*PetroChina to triple spending from $500 mln past few years. BEIJING, April 18- Chinese state energy giant PetroChina plans to spend more than 10 billion yuan on shale gas this year, sources with knowledge of the matter said, as domestic competition heats up after rival Sinopec announced a commercial find.» Read More
*Canadian company ready to mine off Papua New Guinea. NEWCASTLE, England/ LONDON, April 18- The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea- when a wrangle over terms is solved. The world waits for the judgement of a United Nations agency based in Jamaica.
Mad Money's Jim Cramer reflects on CNBC's evolution over the past 25 years.
NEW YORK, April 17- Steve Farris runs a $33 billion Texas oil and gas company and turns, for advice, to a bearded Vermont environmentalist. These draw representatives from mainstream investment firms like T. Rowe Price, Gabelli& Co and Morgan Stanley& Co..
*U.S., Russia, Ukraine and EU issue joint statement. LOS ANGELES, April 17- Brent crude oil fell on Thursday, stalling below $100 a barrel after the United States, Russia, Ukraine and the European Union jointly called for an end to the violence in Ukraine, taking some risk premium out of the market, while U.S. oil rose on positive economic data.
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Oil closed up on the day, and nat gas closed up, as well, while gold was down on the day.
April 17- Oilfield services providers Schlumberger Ltd and Baker Hughes Inc each posted better-than-expected quarterly profit on Thursday, though they said pockets of weakness loom in Brazil, Canada, Russia and other drilling regions.
Coffee for July delivery jumped 15.25 cents, or 8.1 percent, to $2.04 per pound. Brazil is the world's largest coffee producer, accounting for about a third of global production, according to the International Coffee Organization. Coffee in Brazil isn't harvested until June.
American oil companies are telling our U.S. state department they don't want a full-scale financial sanctions war, explains CNBC's Larry Kudlow. He makes the case for raising the value of the U.S. Dollar by 15 percent which he says will kill the price of oil.
SAO PAULO, April 17- Eduardo Campos, the centrist former state governor running third in Brazil's presidential race, plans to lower the tax burden and set a formula to automatically raise fuel prices at state-run oil company Petrobras if he wins the October election.
*U.S., Russia, Ukraine and EU issue joint statement. LOS ANGELES, April 17- Brent crude oil fell on Thursday after the United States, Russia, Ukraine and the European Union joined to call for an end to the violence in Ukraine, taking some risk premium out of the market, while U.S. oil rose on positive economic data.
Gold in particular has fallen from more than $1,500 an ounce in early 2013 to briefly below $1,200 at the start of this year. "We're not expecting miraculous numbers," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.
WASHINGTON— A former BP employee who was a coordinator during the 2010 oil spill in the Gulf of Mexico has agreed to settle federal charges of using confidential information on the seriousness of the spill to profit illegally from trading in BP stock.
LOS ANGELES, April 17- Brent crude oil climbed above $110 a barrel on Thursday as rising tensions in Ukraine raised fears of potential supply disruptions from Russia. With Russian troops massed on the border with Ukraine and three separatists killed overnight in eastern Ukraine, prospects of defusing the crisis at talks in Geneva appeared slim.
*Schlumberger first-quarter profit $1.21/ share vs est. *Baker Hughes first-quarter adjusted profit $0.84/ shr est. April 17- Oilfield services companies Schlumberger Ltd and Baker Hughes Inc reported better-than-expected quarterly profits and signaled an improvement in the North American market, driven by increased drilling in the Gulf of Mexico.
LONDON— Britain's only Green Party lawmaker has been acquitted of charges stemming from her participation in a protest against shale gas extraction. Caroline Lucas was arrested in August after she and other demonstrators linked arms outside a fracking site near the southern English village of Balcombe.
BUENOS AIRES, April 17- Argentine President Cristina Fernandez is reversing some of the populist policies that defined her first six years in power and will have little choice but to stick to the new, more pragmatic path over the remaining 20 months of her final term.
MINNEAPOLIS— Minnesota Pipe Line Co. announced plans Thursday to nearly double the capacity of a crude oil pipeline that carries oil from Canada and North Dakota to the two refineries in the Twin Cities that produce most of Minnesota's and much of Wisconsin's transportation fuels.
LONDON, April 17- Brent crude oil was steady below $110 a barrel on Thursday, after hitting a six-week high in the previous session, as traders assessed whether rising tensions in Ukraine could disrupt supplies from Russia.
AAA Texas on Thursday reported the average price at the pump has reached $3.49 per gallon. AAA Texas says motorists in El Paso are paying the least at $3.32. AAA Texas warns the switch, in addition to other factors, increase the chance of disruptions to production.
LONDON, April 17- Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972.. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970 s and then decline.
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