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  • Here's why Obama is approving Arctic drilling again Wednesday, 1 Apr 2015 | 1:55 PM ET

    WASHINGTON, April 1- For a leader who has made fighting climate change a priority, President Barack Obama's decision to approve Royal Dutch Shell's return to oil and gas exploration off Alaska was seen by many environmentalists as a contradiction. But Shell, which has already spent about $6 billion exploring the Arctic, expects to return to polar waters this...

  • With backing from Saudi Aramco and partnerships with well-known industry players including the Linde Group and Brazilian petrochemical company Braskem, Dineen hopes to break into natural gas processing with improvements that make the decades-old technology economical. Abundant domestic natural gas from the shale boom prompted plans by Royal Dutch...

  • ANCHORAGE, Alaska— The Department of Interior said Tuesday that it has affirmed corrections to an environmental analysis of a 2008 Arctic Ocean petroleum lease sale that brought in $2.7 billion for the federal government. The expected decision regarding the lease in the Chukchi Sea off Alaska's northwest coast opens the door for the department to review a...

  • WASHINGTON, March 31- The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas exploration in the Arctic since it suffered mishaps in the region in 2012.. "The Arctic is an important component of the Administration's national energy strategy, and we remain...

  • WASHINGTON, March 31- The U.S. Department of the Interior on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to the Arctic since it suffered accidents in the region in 2012..

  • PARIS/ LONDON, March 31- European shares fell on Tuesday, taking a breather from their sharp rally of the past three months sparked by the drop in the euro, with Germany's DAX index set to record its biggest first-quarter gain since its creation in mid-1988. "Quantitative easing in Europe has been the surprising positive in the first quarter, thanks to its huge size...

  • OTTAWA, March 30- Royal Dutch Shell will resume drilling off Alaska after suspending operations for two years in the wake of an accident, the special U.S. envoy to the Arctic said on Monday, but gave no details as to when. Shell has been moving oil rigs to Alaska as it awaits the green light from U.S. authorities. "Clearly Shell and others will resume drilling and...

  • Chevron exits Caltex Australia stake for $3.7 bln Friday, 27 Mar 2015 | 10:35 PM ET

    PERTH, March 28- U.S. energy giant Chevron sold its entire stake in refiner Caltex Australia Ltd for A $4.7 billion in Asia's biggest block deal this year, as falling oil prices and high costs hurt margins. Offshore institutional investor demand for the 50 percent stake in Australia's biggest refiner was strong, with bidding driving the final price to A $35 a share,...

  • With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less. Baker Hughes Inc saw more client inquiries about products that increase efficiency of existing wells in the first three months...

  • *Russia's Rosneft to sell Trafigura up to 1.6 mln T in April. MOSCOW/ LONDON, March 27- Trafigura is emerging as the new king of Russian oil trading, expanding its deal with sanctions-hit Rosneft to export $500 million worth of crude in April from the Baltic, the Mediterranean and Pacific ports, market sources said. The move comes as European Union and U.S. sanctions...

  • HONG KONG/ SYDNEY, March 27- U.S. energy firm Chevron is seeking to sell its entire stake in Caltex Australia Ltd for about A $4.6 billion, exiting Australia's biggest refiner after nearly 40 years as falling oil prices and high costs hurt margins. A successful sale of Chevron's 50 percent stake, which the company is offering at a discount to market prices, would make...

  • HOUSTON, March 26- Motiva Enterprises said on Thursday that operations at its Convent and Norco, Louisiana, refineries will be integrated to take advantage of increased production of lower-cost U.S. shale oil. Gas oil produced by the Convent refinery will go to the expanded hydrocracker and 112,000 bpd catalytic cracking unit at the Norco plant.

  • WASHINGTON— The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study to be released Friday. "To remain globally competitive and to be positioned to provide global leadership and influence in the...

  • INTERVIEW-Iraq oil minister sees $70 crude by end 2015 Thursday, 26 Mar 2015 | 3:33 PM ET

    BAGHDAD, March 26- Iraq's Oil Minister Adel Abdel Mehdi predicted world oil prices could reach $70 a barrel by the end of 2015 and played down the impact of the emerging conflict in Yemen on prices. A global slump in oil prices has slashed government revenue in Iraq, prompting the OPEC producer to renegotiate contracts with oil majors as it faces a costly military...

  • PARIS, March 24- European shares inched higher in early trade on Tuesday after forecast-beating economic data from Germany helped offset a poor reading of Chinese factory activity. Figures showed Germany's private sector grew in March at its strongest rate since July, in a further sign that Europe's largest economy is gaining momentum.

  • SINGAPORE, March 19- Iraq has notified its exploration partners that it plans to start splitting its southern Basra oil production into two grades due to quality differences, and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Holders of technical service contracts include Lukoil, Petronas, CNPC, CNOOC, BP,...

  • SINGAPORE, March 19- OPEC's second largest producer Iraq has notified its partners that it plans to start splitting its southern oil production into two grades and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Iraq's State Oil Marketing Organization said it will allocate Basra Heavy crude, with an API...

  • Canadian oil sands woes reach far-flung eastern shores Thursday, 19 Mar 2015 | 1:00 AM ET

    Cape Breton is another example how the 60 percent slide in oil prices since last June has rippled far and wide, affecting property markets in Alberta and North Dakota, helicopter sales in Houston, the Canadian dollar and national interest rates. Many young workers head to Fort McMurray in northern Alberta, lured by big paychecks awaiting at oil sands projects...

  • LONDON, March 16- South Africa's mining minister said on Monday he expected to start issuing shale exploration licences later this year. "At the moment we are going through the consultation process," Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House extractive Industries in Africa conference. Earlier in the day, Royal Dutch Shell had said it...

  • HOUSTON, March 16- A tentative national agreement to end a six-week strike at twelve U.S. refineries has struggled to win ratification at eight plants as workers and companies struggle to settle local issues, according to union officials. The deal reached on Thursday by the United Steelworkers and lead industry negotiator Royal Dutch Shell Plc to end the...