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  • Amazon asks FAA for permission to fly drones Friday, 11 Jul 2014 | 11:53 AM ET

    NEW YORK— Amazon is asking the Federal Aviation Administration permission to use drones as part of its plan to deliver packages to customers in 30 minutes or less. In a letter to the FAA dated Wednesday, Amazon said it is developing aerial vehicles as part of Amazon Prime Air.

  • Early Glance: Oil companies Friday, 11 Jul 2014 | 10:30 AM ET

    BP PLC fell$. 12 or. 2 percent, to $51.68. ConocoPhillips fell$. 67 or. 8 percent, to $85.00. Exxon Mobil Corp. fell$. 79 or. 8 percent, to $101.78.

  • LONDON, July 9- The U.S. Department of Defense has been using the wrong oil price in its budget, leaving the largest single buyer of fuel in the world with liabilities potentially hitting billions of dollars.

  • NEW YORK, July 9- Four years into the shale revolution, the U.S. is on track to pass Russia and Saudi Arabia as the world's largest producer of crude oil, most analysts agree. "The key issue is not whether production grows, it's by how much," said Ed Morse, global head of commodities research at Citigroup in New York.

  • *BP, Anadarko, IBV are partners in areas hit by writedown. Maersk bought the assets from South Korea's SK Energy Co Ltd for $2.4 billion in 2011. On Tuesday, Brazil's HRT Participacoes em Petroleo SA said it bought Maersk's 40 percent Polvo stake for an undisclosed sum.

  • *BP, Anadarko, IBV are partners in areas hit by writedown. Maersk bought the assets from South Korea's SK Energy Co Ltd for $2.4 billion in 2011. On Tuesday, Brazil's HRT Participacoes em Petroleo SA said it bought Maersk's 40 percent Polvo stake for an undisclosed sum.

  • PARIS, July 8- Europe should stop thinking about cutting its dependence on Russian gas and focus instead on making those deliveries safer, including options to bypass Ukraine, the head of French oil major Total told Reuters.

  • LONDON, July 7- Exploring for oil and gas is like gambling: it's all about playing probabilities, and using technology and skill to improve the odds.

  • Greece promises tax cut to attract oil and gas majors Tuesday, 1 Jul 2014 | 11:14 AM ET

    *Greece plans to cut tax for oil/gas firms to 25 pct from 40 pct. LONDON, July 1- Greece is planning to cut tax rates for oil and gas companies as it wants to attract them to help exploit its untapped offshore hydrocarbon resources, its energy minister said on Tuesday.

  • With a budget dependent on oil revenues, Russia closely watches any changes in world supply, and news of a U.S. ruling that American companies can now export the light gaseous petroleum known as condensate prompted some analysts to see a fight for market share in Asia.

  • MOSCOW, July 1- Russian aluminum giant Rusal has approval for a $3.6 billion debt restructuring deal from another of its creditors German financial services provider Portigon AG, two sources familiar with decision said. The deal has yet to be approved by one creditor- Britain's part-nationalized lender Royal Bank of Scotland, one source told Reuters.

  • Philly Tankers AS, majority-owned by Aker Philadelphia Shipyard is building four ships on spec, and Seabulk Tankers Inc, an indirect wholly-owned subsidiary of SEACOR Holdings Inc, is building another two.

  • DETROIT, June 30- General Motors Co's ongoing safety crisis over deadly ignition switches deepened on Monday with the recall of 8.23 million mostly older cars linked by the U.S. automaker to three deaths.

  • June 30- The compensation fund for victims of General Motors Co's defective ignition switch will be open to a broad range of people, with family members of those who died as a result eligible for at least $1 million, the attorney in charge of the fund said on Monday.

  • BP wants 'windfall' Gulf spill payments back Friday, 27 Jun 2014 | 6:41 PM ET

    BP has asked a U.S. judge to direct what it called a "vast number" of businesses to repay hundreds of millions of dollars awarded as compensation.

  • KHABAROVSK/ MOSCOW, Russia, June 27- Rosneft signed on Friday its second major agreement with BP since sanctions were imposed on the Russian oil company's chief executive, a close ally of President Vladimir Putin, over Russia's involvement in the Ukraine crisis.

  • KHABAROVSK, Russia, June 27- Rosneft signed its second major agreement with BP on Friday since sanctions were imposed on the Russian oil company's chief executive, a close ally of President Vladimir Putin, over the Ukraine crisis. The signing followed an agreement in by BP and Rosneft in May to jointly explore for tight oil in Russia.

  • *Oil minister sees production from BP project in 2017. AL-ASEEL OIL FIELD, Egypt, June 26- Egypt's oil minister said on Thursday that BP's $10 billion gas project, stalled for three years, had restarted and that production would begin in 2017, a sign of progress in efforts to ease the worst energy crunch in decades.

  • CAIRO, June 26- Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister said on Thursday, as the government tries to stave off a worsening power crisis. In April, Ismail said Egypt would pay about $1 billion "within two months" but the government has not yet announced that it has paid.

  • CAIRO, June 26- Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister said on Thursday, as the government aims to lure back wary investors to tap its reserves and boost production to meet soaring demand.