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  • Nabors to split CEO, chairman roles Monday, 14 Apr 2014 | 7:20 AM ET

    April 14- Oilfield services and drilling company Nabors Industries Ltd said it would separate the roles of chairman and chief executive after the tenure of CEO Anthony Petrello ends, following shareholder requests. Nabors also said it was limiting severance payments for executives to 2.99 times their salary and bonus.

  • US imposes sanctions on Crimea gas group Saturday, 12 Apr 2014 | 6:40 AM ET

    The US has imposed sanctions against the Crimean subsidiary of Ukraine's national gas company, after its annexation by Russia. The FT reports.

  • ND posts 951K barrels of oil daily in February Friday, 11 Apr 2014 | 1:54 PM ET

    BISMARCK, N.D.— North Dakota oil drillers produced an average of about 951,000 barrels of oil a day in February. The Department of Mineral Resources says February production was up from an average of about 935,000 barrels daily in January. North Dakota's oil patch had a record 10,186 producing wells in February, up from 10,114 in January.

  • US rig count up 13 to 1,831 Friday, 11 Apr 2014 | 1:46 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by 13 this week to 1,831.. Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.

  • UPDATE 1-Magellan shifts focus to crude oil pipelines Tuesday, 8 Apr 2014 | 12:13 PM ET

    NEW YORK, April 8- Magellan Midstream Partners, the U.S. In a presentation made to investors on Tuesday, Magellan said of the $950 million it plans to spend between 2014 and 2016, 80 percent will go to crude oil projects primarily in and around Texas and its shale oil plays.

  • April 6- An unexplained blast this week at a liquefied natural gas facility in rural Washington state, which injured workers, forced an evacuation and raised alarm about a potentially large second explosion, could focus attention on the risk of storing massive gas supplies near population centers.

  • US rig count up 9 to 1,818 Friday, 4 Apr 2014 | 7:13 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by nine this week to 1,818.. Louisiana lost six, Alaska fell by three, Kansas lost two and California, Colorado and Wyoming lost one each. Arkansas, North Dakota, Ohio, Utah and West Virginia were unchanged.

  • TORONTO, April 4- Canada can move faster than the United States to stop the use of older rail tanker cars to carry crude oil, Transport Minister Lisa Raitt said on Friday, adding Ottawa is under pressure after last July's fiery derailment in Quebec that killed 47 people.

  • Report: Poor management led to Shell grounding Thursday, 3 Apr 2014 | 6:17 PM ET

    ANCHORAGE, Alaska— Poor risk assessment and management were among factors that led to the grounding of a Shell oil drilling rig in the Gulf of Alaska in 2012, the Coast Guard said in a report released Thursday. Royal Dutch Shell PLC believed the drill vessel would have qualified as taxable property on Jan. 1, 2013, if it was still in Alaska waters.

  • April 3- Federal authorities have opened a criminal investigation into a $400 million fraud involving Citigroup's Mexican unit, according to a person familiar with the matter.

  • OTTAWA, April 3- Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.

  • April 3- Federal authorities have opened an investigation into a $400 million fraud involving Citigroup's Mexican unit, the New York Times reported, citing people briefed on the matter.

  • OSLO, April 2- Norwegian industrial workers and their employers continued to negotiate more than nine hours after a midnight deadline had passed on Wednesday in an effort to avoid strike action that would hit around 125 companies, many of them serving the country's vital offshore oil and gas industry.

  • *Supply falls by 340,000 bpd, led by Iraq, Angola, Libya. Supply from the Organization of the Petroleum Exporting Countries averaged 29.72 million barrels per day, down from a revised 30.06 million bpd in February, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

  • *Supply falls by 340,000 bpd, led by Iraq, Angola, Libya. Supply from the Organization of the Petroleum Exporting Countries averaged 29.72 million barrels per day, down from a revised 30.06 million bpd in February, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

  • Big oil firms crack the whip over service companies Wednesday, 26 Mar 2014 | 8:13 AM ET

    *Oil firms ask for more standardisation. OSLO, March 26- On a mission to crush costs, global oil firms are rewriting the rule book on how they deal with service companies. "Now is the time of integration, with one service company doing everything with the client from planning the well to building it," Torjer Halle, the chairman of Schlumberger's Norwegian unit said.

  • TOKYO, March 26- U.S. crude oil prices ticked higher above $99 in early Wednesday trade, reversing some of the previous session's losses when a build in petroleum inventories and the restart of a key Texas oil shipping channel pressured prices. *U.S. crude for May delivery was up 11 cents at $99.30 per barrel by 0032 GMT, after finishing 41 cents lower on Tuesday.

  • *Coast Guard opens Houston Channel for oil tankers. NEW YORK, March 25- Brent crude oil futures rose on Tuesday on renewed geopolitical risk over Russia and supply disruptions in Nigeria and Libya, while U.S. crude was pressured by a stronger U.S. dollar.

  • TOKYO, March 25- U.S. crude oil gave up gains in early Tuesday trade to float just above $99 amid news that officials were looking to reopen a key Texas shipping channel, the shutdown of which had lifted prices in the previous session. *U.S. crude for May delivery was down 25 cents at $99.35 per barrel by 0005 GMT, after finishing 14 cents higher on Monday.

  • MEXICO CITY, March 23- The chief executive of a major Mexican oilfield services company was held for questioning on Saturday in connection with a fraud investigation that forced Citigroup to cut its 2013 profit, the federal attorney general's office said on Sunday.

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