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  • HOUSTON/ NEW YORK, June 15- Steep downward revisions to oil and gas reserves at the end of this year are likely to increase scrutiny of how energy companies tally future barrels- a process that has become more opaque with the rise of shale drilling. Reserve growth is used at companies, including ConocoPhillips as a component of the chief executive's compensation.

  • HOUSTON, June 11- Motiva Enterprises said on Thursday it aims to trade its own gasoline, diesel and the components needed to make them in a new organization separate from its co-owner, Royal Dutch Shell. "With this change, we hope to provide greater value to them through more active participation in the market," Motiva Chief Executive Dan Romasko said in the...

  • June 11- HealthSouth Corp said it would buy a private rehabilitation hospital operator for $730 million in cash to expand its post-acute care business into new markets. The acquisition of Reliant Hospital Partners will strengthen HealthSouth's position in the Houston, Dallas-Fort Worth and Austin, Texas markets, while giving it new locations in Abilene,...

  • *U.S. crude settles above $60 a barrel, Brent near $65. NEW YORK, June 9- Prices for crude oil, gasoline and diesel jumped more than 3 percent on Tuesday, as bullish investors ramped up bets across the oil complex for another weekly drop in U.S. stockpiles. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group...

  • *Brent nears $65 a barrel, U.S. crude edges toward $60. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group American Petroleum Institute is expected to show later on Tuesday before official numbers on Wednesday from the government's Energy Information Administration. Brent futures were up $1.88, or 3...

  • *Brent near $65 a barrel, U.S. crude near $60. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group American Petroleum Institute is expected to show later on Tuesday before official numbers on Wednesday from the government's Energy Information Administration. Brent futures were up $2, or 3.2 percent, at...

  • NEW YORK, June 8- Auction.com, an online marketplace for property backed by Google Inc and real estate mogul Barry Sternlicht, signed a deal with a commercial real estate advisory firm to provide due diligence in a step to enhance its services and help move sales further beyond the local arena. Half of Auction.com' s sales are now commercial real estate, of which 60...

  • June 6- Three more tendons designed to link Chevron Corp's Big Foot deepwater oil project to the Gulf of Mexico seabed have sunk, escalating concerns about how long it will take for the project to start. Gulf of Mexico, to produce 75,000 barrels of oil and 25 million cubic feet of natural gas per day once it opens. The San Ramon, California- based company said it had set...

  • WASHINGTON, June 4- In a fight in the U.S. Congress over the future of the Export-Import Bank, no state looms larger than Texas, on both sides. Representative Jeb Hensarling leads a contingent of fellow Texas Republicans pressing hard for the shutdown of the bank, despite its support for many large and small Texas businesses. The bank lists 1,233 companies in Texas...

  • June 2- Movie theater chain Cinemark Holdings Inc said it had received formal inquiries from the U.S. Department of Justice related to an antitrust probe, a day after larger cinema operators Regal Entertainment Group and AMC Entertainment Holdings received similar notices. Houston- based Viva Cinema sued AMC Entertainment on April 20, saying AMC had coerced...

  • June 2- Chevron Corp has deployed robots on the seafloor near its Big Foot deepwater oil project, aiming to find just how much damage it must contend with after six giant tendons sank and indefinitely delayed the start of production at the platform. The site, 225 miles south of New Orleans in the U.S. Wells Fargo analyst Roger Read said on Tuesday the setback was "...

  • June 1- Bank of America Corp has hired Brad Hutchinson from Barclays Plc to co-head its Americas energy investment banking business alongside Oscar Brown, according to an internal memo seen by Reuters. Brown and Hutchinson worked together for over a decade at Lehman Brothers Holdings Inc and Barclays before Brown moved to Bank of America in 2010..

  • *Croatia to sign oil, gas exploration licences in June/July. SALI, Croatia, June 1- When Croatia announced in 2013 it would set a tender to explore for oil and gas in its pristine Adriatic waters, the government evoked the hydrocarbon riches of Norway to win over the plan's many detractors. "If it's not dangerous for Norway or Scotland, it shouldn't be dangerous for us,"...

  • HARRISBURG, Pa., May 29- Chevron Corp. has paid a reported $5 million to settle a lawsuit filed last year by the parents of a worker who was burnt to death in a gas well fire in western Pennsylvania. Local media reported the $5 million settlement, saying it had been approved by a judge in Allegheny County Court of Common Pleas in Pittsburgh earlier this month.

  • NEW YORK, May 28- A reported jump in weekly U.S. crude production data that set oil traders atwitter on Thursday was chiefly caused by revisions to two-month-old figures, not a surge in immediate output, a U.S. official said. On Thursday, the Energy Information Administration's Weekly Petroleum Status Report showed field production of crude oil rose by 304,000...

  • *Number of rigs in Marcellus has dropped- Baker Hughes. The U.S. Energy Information Administration says production in the fast-growing field in Pennsylvania and West Virginia is set to remain flat for the next few years before beginning a very slow decline primarily because of depressed gas prices. The number of rigs in the area has dwindled in recent months to...

  • Ocwen to cut 140 jobs at Houston Wednesday, 27 May 2015 | 4:59 PM ET

    May 27- Private mortgage servicer Ocwen Financial Corp said it will cut 140 jobs as part of its move to stop residential servicing operations in Houston. Ocwen has sold more than $90 billion of servicing rights since February, which includes $45 billion of mortgage servicing rights to JPMorgan Chase& Co's consumer and commercial banking unit.

  • Texas oil patches brace for more rains, possible floods Tuesday, 26 May 2015 | 12:44 PM ET

    HOUSTON, May 26- Texas oilfields could see strong rains and thunderstorms later this week, though they were spared the heaviest flooding that struck central and eastern Texas over the Memorial Day weekend, the National Weather Service said on Tuesday. There were reports of flooded roads in parts of the Permian Basin of west Texas and swollen creeks in the Eagle...

  • May 22- A small offshore oil platform caught fire in shallow water near the coast of Louisiana on Friday and a sheen was seen in the sea after workers were evacuated, officials said. All 28 workers aboard were taken from the platform, located about 20 miles east of the boot tip of Louisiana, onto a nearby supply vessel and taken ashore. It was unclear how much oil had...

  • NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. Drillers cut the number of U.S. oil rigs in operation by just one this week, the strongest sign yet that a nearly six-month slump in activity was ending, data from oil services firm Baker Hughes...