MEXICO CITY, Dec 8- Mexico's Senate committees begin debate on Sunday on an energy bill that would open up the world's 10th- biggest oil producer to private investment by allowing new types of contracts, marking the industry's most dramatic overhaul in 75 years.» Read More
TRIPOLI, Dec 7- Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. Arusi said Libya had lost 9 billion Libyan dinars in oil revenues after output had fallen to 250,000 barrels a day from 1.4 million bpd in July.
Dec 7- A U.S. federal judge has refused to allow investors to proceed as a group in a lawsuit accusing BP Plc of fraud by misleading them- before and after the 2010 Gulf of Mexico oil spill- about the company's ability to respond to an accident.
TRIPOLI, Dec 7- Libya needs to find new oil buyers after a drop in output to 250,000 barrels per day due to protests has led to an increase in competition from Algeria and Nigeria, Oil Minister Abdelbari al-Arusi said on Saturday.
MEXICO CITY, Dec 7- Lawmakers from Mexico's ruling centrist party and opposition conservatives have reached agreement in principle on a draft energy bill that includes contracts ranging from profit-sharing and risk-sharing to licenses, a top lawmaker told Reuters on Saturday.
PUNGESTI, Romania, Dec 7- U.S. oil major Chevron halted exploration works for shale gas in eastern Romania for the second time in two months on Saturday after anti-fracking protesters broke through wire mesh fences around the site.
NEW YORK, Dec 6- U.S. crude oil ended up for a sixth day on Friday in its longest rally since July and gold and many other commodities rose too as stronger-than-expected hiring by American employers in November boosted confidence in the No. 1 economy.
Officials said Senate committees could unveil the reform at the weekend and start debating one of the cornerstones of President Enrique Pena Nieto's economic reform drive on Monday.
CNBC's Sharon Epperson reports where the cheapest gas in America is. The national average ticked up to $3.26 per gallon.
HOUSTON-- ConocoPhilips said Friday that it plans $16.7 billion next year in capital expenditures with about 55 percent allocated for North America. The oil and gas company said it plans to spend more on drilling programs in the Eagle Ford, Bakken and Permian regions in North America.
The U.S. shale boom will create a virtuous cycle that may hold down energy costs and support the recovery, Goldman said on Friday.
RIO DE JANEIRO, Dec. 6- A Brazilian state judge suspended a plan to unify the bankruptcy protection petitions of tycoon Eike Batista's oil producer and shipbuilder, saying the joint petition could hurt the interests of a creditor that opposed the plan.
NEW YORK, Dec 6- U.S. oil traded higher in choppy trade on Friday, still on track for its biggest weekly percentage gain since July, supported by the outlook for increased demand after strong jobs data from the United States, the world's top oil consumer.
Dec 6- ConocoPhillips, the largest independent oil and gas company, said on Friday that it expected to spend $16.7 billion next year, with more than half earmarked for shale projects in North America.
NEW YORK, Dec 6- U.S. oil traded slightly higher in choppy trade on Friday, on track for its biggest weekly percentage gain since July, supported by the outlook for increased oil demand after strong jobs data from the United States, the world's top oil consumer.
Dec 6- ConocoPhillips, the largest independent oil and gas company, said on Friday that it expected to spend $16.7 billion next year, with more than half earmarked for projects in North America.
Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.
NEW YORK, Dec 6- Oil rose on Friday, supported by expectations of increased demand after the government reported the jobless rate fell to a five-year low in the United States, the world's top oil consumer, adding to a week's worth of strong economic data.
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
*Severe weather cuts oil production in Europe, U.S. LONDON, Dec 6- Brent crude rose above $111 a barrel on Friday after data showed the jobless rate at a five-year low in top oil consumer the United States. Brent was up 42 cents at $111.40 a barrel at 1433 GMT, while U.S. crude was up 7 cents at $97.45 a barrel.
*Severe weather cuts oil production in Europe, U.S. LONDON, Dec 6- Brent crude rose above $111 a barrel on Friday after a two-day drop, as severe weather cut oil output in Europe and the United States, and with traders waiting for a U.S. jobs report.