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  • HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. increased by two this week to 859, the first weekly gain since December. Houston- based Baker Hughes said Friday 628 rigs were seeking oil and 228 explored for natural gas. Alaska, Arkansas, California, Colorado, Kansas, Oklahoma, Pennsylvania,...

  • It was the 29th straight weekly decline, bringing the total down to 628, the lowest since August 2010, oil services company Baker Hughes Inc said in its closely followed report. In the latest week, drillers removed two rigs in the Permian, the biggest U.S. shale oil play in West Texas and eastern New Mexico, and three in the Bakken centered in North Dakota.

  • Asia oil pricing change to raise trade volumes Thursday, 25 Jun 2015 | 11:44 PM ET

    The change in how fuel oil, diesel, jet fuel and gasoline are assessed for loadings out of Singapore and Malaysia takes a borderless approach similar to that in the world's largest oil storage hub Amsterdam- Rotterdam- Antwerp. The main change is that from July in Platts' free-on-board Singapore price assessments- the basis for most contract and spot deals done in...

  • June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. Magnum Hunter had $13.7 million in cash and cash equivalents and total debt of $951 million as of March 31, according to Thomson Reuters data.

  • Magnum Hunter looking to divest stake in pipeline unit Thursday, 25 Jun 2015 | 6:40 AM ET

    June 25- Oil and natural gas producer Magnum Hunter Resources Corp said it expected to raise $600- $700 million by selling its 45.53 percent stake in its natural gas gathering subsidiary, Eureka Hunter Holdings. The potential deal would allow Magnum Hunter to restructure its balance sheet and improve its current liquidity position, the company said.

  • Repair planned for small leak in trans-Alaska pipeline Tuesday, 23 Jun 2015 | 7:00 AM ET

    FAIRBANKS, Alaska— Alyeska Pipeline Service Co. is working on a repair for a small crude oil leak found in a buried section of the trans- Alaska pipeline, but for now an employee is tending to the leak with a rag. According to Alyeska spokeswoman Michelle Egan, the Fairbanks shop is building a metal sleeve to contain the leak in a fitting between two pipes, reported The...

  • Asia renewable bond market set for takeoff: ADB Monday, 22 Jun 2015 | 9:34 PM ET
    Cows graze in front of wind turbines at the Bharat Light & Power Amberi wind farms in Rewalkawadi, Maharashtra, India.

    Renewable energy bond issuance is set to take off in Asia as new regulations push banks to step back from extending loans to projects, the ADB said.

  • US oil and natural gas rig count drops by 2 to 857 Friday, 19 Jun 2015 | 3:03 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 857.. Houston- based Baker Hughes said Friday 631 rigs were seeking oil and 223 explored for natural gas. Arkansas, California, Colorado, Kansas, Texas and West Virginia were unchanged.

  • Overall, drillers reduced the number of rigs by four this week, oil services company Baker Hughes Inc said in its closely followed report. The number of oil rigs in the Permian, the nation's biggest shale oil field located in West Texas and eastern New Mexico, climbed to 232 this week, up one from the lowest level in at least four years last week, according to Baker...

  • CRUDE LITTLE CHANGED AFTER OIL SERVICES FIRM BAKER HUGHES REPORTS REDUCTION OF 4 U.S.

  • *Greece concerns boost dollar, weaken oil. *Coming Up: Baker Hughes oil rigs report at 1700 GMT. Market participants will be looking out for oil services firm Baker Hughes' latest weekly reading on the U.S. oil rig count at 1:00 p.m. Eastern time to decide on further direction.

  • OTTAWA, June 19- The fiery January 2014 derailment of a Canadian National Railway Co crude oil train in New Brunswick was caused by an undetected flaw that broke a wheel, the Transportation Safety Board of Canada said on Friday. The accident at Plaster Rock in the Canadian Atlantic province was one of a series of tanker train disasters that have increased...

  • OSLO, June 18- Some 574 Norwegian rig workers could go on strike from next Thursday, potentially reducing oil production, unless a wage settlement is reached during talks with a state appointed mediator, three labor unions said on Thursday. The IE and DSO workers are all based on four drilling rigs owned by Odfjell Drilling, Stena Drilling, China Oilfield Services...

  • NEW YORK, June 17- Magellan Midstream Partners LP, one of the ten largest U.S. oil pipeline companies, is considering opening an oil trading operation for the first time to enter a business that generates hundreds of millions of dollars a year for some of its rivals. Magellan may hire traders and acquire other assets related its existing pipeline and oil storage...

  • June 17- Canadian oilfield services provider Calfrac Well Services Ltd halved its quarterly dividend to 6.25 Canadian cents per share, citing lower crude oil prices and weak demand for oilfield services. Calfrac's board also approved an additional capital of about C $12 million for 2015 to expand in Latin America, the company said on Wednesday.

  • NEW YORK, June 17- Magellan Midstream Partners LP, one of the ten largest U.S. oil pipeline companies, is considering opening an oil trading operation for the first time to enter a business that generates hundreds of millions of dollars a year for some of its rivals. Magellan may hire traders and acquire other assets related its existing pipeline and oil storage...

  • Ex-PetroTiger co-CEO avoids prison in bribery case Tuesday, 16 Jun 2015 | 3:29 PM ET

    June 16- A former co-chief executive of oil services company PetroTiger Ltd was sentenced to probation on Tuesday, a day after his bribery trial ended abruptly when he pleaded guilty to a single conspiracy charge. District Judge Joseph Irenas in Camden, New Jersey, to serve three years of probation and pay a $100,000 fine and $239,015 in restitution, the office of...

  • HARRISBURG, Pa.— State environmental regulators are pursuing a record $8.9 million fine against a Texas- based energy company they say repeatedly failed to repair a natural-gas well that contaminated groundwater and a stream in north-central Pennsylvania. The Department of Environmental Protection announced the proposed penalty Tuesday against Range...

  • COLUMBUS, Ohio— A proposed tax increase on Ohio oil-and-gas drillers that's been intensely negotiated for weeks— and debated for years— won't be included in the two-year state budget, legislative leaders said Tuesday. Senate President Keith Faber and House Speaker Cliff Rosenberger, both Republicans, said that negotiations on a long-standing priority of Gov.

  • COLUMN-North Dakota's oil production has peaked: Kemp Tuesday, 16 Jun 2015 | 8:14 AM ET

    LONDON, June 16- North Dakota's crude oil output has peaked, according to the latest production data published by the state government, as the slump in prices takes its toll. In the seven months between February and September 2014, output increased by 233,000 bpd, while in the seven months from September 2014 to April 2015, output actually edged down 18,000 bpd.