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  • *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.

  • *Plans comeback with major gas export project in Canada. BEIJING, March 19- A Chinese oil tycoon, who lost his fortune after being jailed for embezzlement in 2007, aims to make his comeback with an ambitious project in Canada to export gas back to his homeland.

  • LONDON, March 13- Royal Dutch Shell will cut spending by a fifth and lay off staff at its American exploration and production business, the company said on Thursday, in another sign that oil majors are struggling to profit from the booming U.S. shale sector.

  • Ship glut burdens LNG tanker market, slashes profits Tuesday, 11 Mar 2014 | 10:50 AM ET

    *LNG vessel rates halve to $70,000/ day. LONDON, March 11- Deliveries of new gas tankers have created a glut that is threatening to tip some operators into losses, just as other shipping markets emerge from their worst downturn in decades. Earnings have halved to around $70,000 per day over the past year, leaving only a thin profit margin.

  • ES SIDER, Libya, March 11- A North Korean-flagged tanker that loaded crude oil at a rebel-held port in eastern Libya is now in international waters, rebels at the harbour and a state oil company official said on Tuesday.

  • TRIPOLI, March 10- Libyan navy and allied militia forces have surrounded a North Korea- flagged tanker just outside an eastern port held by rebels, a navy spokesman said on Monday. The Morning Glory has loaded crude oil worth $30 million at the Es Sider port, bypassing Tripoli authorities, despite a government threat to bomb it should it sail away.

  • *Independent crude shipment to market challenges Tripoli. TRIPOLI, March 8- Libya threatened on Saturday to bomb a North Korean-flagged tanker if it tried to ship oil from a rebel-controlled port, in a major escalation of a standoff over the country's petroleum wealth.

  • *Independent crude shipment to market challenges Tripoli. TRIPOLI, March 8- Libya threatened on Saturday to bomb a North Korean-flagged tanker if it tries to export oil from a rebel-controlled port east of Tripoli, in a major escalation of a standoff over the country's petroleum wealth.

  • *Navy threatened tankers loading crude at seized ports. TRIPOLI, March 8- Armed protesters controlling ports in eastern Libya said on Saturday they had started independently exporting oil, bypassing the central government in a major escalation of their blockade to demand a share of the nation's petroleum wealth.

  • LONDON, March 4- Drilling for oil and gas deposits outside North America has hit the highest level in three decades, led by big exploration and production programmes in the Middle East and Africa. The boom is being led by the Middle East, where the number of rigs operating has tripled since 1999, and Africa, where the rig count is up almost four times.

  • LUSBY, Md., March 2- Maps of Indian and Japanese ports paper the walls of a Dominion Resources Inc conference room in a small Maryland town, population 1,835, known more for crabbing and bird watching than global trade and the U.S. natural gas revolution.

  • Feb 28- Citigroup Inc said on Friday that it discovered fraudulent loans in its Mexico subsidiary and that its employees may have been in on the crime. Citigroup said it believes at this point that the incident was an isolated episode.

  • OSLO, Feb 28- The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms. Activity in the deep waters off West Africa and Brazil will suffer the most, he said. "

  • Feb 28- Citigroup Inc said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The announcement comes after Citigroup shares have fallen in recent weeks on concerns that slowing growth in emerging markets may reveal bad loans, as well as increase the risk of trading losses.

  • Feb 28- Citigroup Inc said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million.

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