Oil states expected to stick with Saudis: OPEC reality check. VIENNA, Austria (Bloomberg) -- OPEC members gathering in Vienna June 2 are expected to go along with a Saudi Arabia-led policy focused on squeezing out rivals amid signs the strategy...

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New Brunswick's decision to extend fracing moratorium is a step in wrong direction, CAPP says CALGARY, Alberta -- The Canadian Association of Petroleum Producers (CAPP) has expressed disappointment with the New Brunswick government’s decision...

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Saudi Aramco boosts oil output to record in fight for market RIYADH, Saudi Arabia (Bloomberg) -- Saudi Arabian Oil Co., the world’s largest crude exporter, increased production to an all-time high last year while keeping its reserves...

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Pre-OPEC meeting said to have no discussion of oil-output limits VIENNA, Austria (Bloomberg) -- The final preparatory gathering of officials from the Organization of Petroleum Exporting Countries before the ministerial meeting on June 2 didn’t...

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BP boosts Thunder Horse production with water injection project HOUSTON -- BP has started up a major water injection project at its Thunder Horse platform, extending the production life of one of the biggest deepwater...

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Shale oil seen stifling OPEC's historic market-balancing role KUWAIT (Bloomberg) -- The surge in the global supply of shale oil has curbed OPEC’s ability to balance crude markets, a former Qatari energy minister said. The Organization of Petroleum...

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Shell cuts 2,200 more jobs to withstand lower-for-longer oil THE HAGUE (Bloomberg) -- Royal Dutch Shell will cut 2,200 more jobs, taking the total tally of losses to 12,500 from 2015 to 2016 as the world’s second-biggest...

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Oman Block 36 wildcat disappoints for DNO OSLO, Norway -- DNO’s Hayah-1 exploration well, in Oman's Block 36, failed to encounter hydrocarbons other than minor gas shows and will be plugged and abandoned, the company...

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Oil’s recovery under threat as tankers run in circles off China BEIJING (Bloomberg) -- In late February, the tanker Jag Lok loaded oil from Equatorial Guinea in western Africa and set sail for the Chinese port of Qingdao, the gateway to the world’s...

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OPEC set for another meeting with no deal after Doha failure VIENNA, Austria (Bloomberg) -- After failing to reach an accord on oil supply in Doha last month, OPEC is poised to go another meeting with no agreement on how much crude to produce. All...

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Africa's busiest oil industry running hard to stand still LONDON (Bloomberg) -- Algeria has more drilling rigs than the rest of Africa combined, yet oil production still isn’t recovering after years of decline. It’s little wonder the nation remains...

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Cairn India CEO quits after record quarterly loss MUMBAI, India (Bloomberg) -- Cairn India Ltd. said its CEO Mayank Ashar resigned citing personal reasons, just a month after the nation’s largest private oil producer posted its biggest quarterly...

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Exxon, Total, Chevron in talks with Pemex on Gulf prospects MEXICO CITY (Bloomberg) -- Petroleos Mexicanos is in talks with Exxon Mobil Corp., Total and Chevron Corp. as Mexico’s struggling state-run oil producer seeks partners to develop deepwater...

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Shell said to start talks with buyers for North Sea asset sales THE HAGUE (Bloomberg) -- Royal Dutch Shell is in talks with potential buyers for some North Sea assets, mostly fields it got this year as part of the record acquisition of BG Group,...

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France’s proposed shale-gas ban isn’t workable, Total CEO says PARIS (Bloomberg) -- Total SA CEO Patrick Pouyanne said plans to ban imports of U.S. shale gas to France may be unworkable. “I don’t know how it would be possible to do it,” Pouyanne...

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Norway offers thirteen companies production licenses in Barents Sea STAVANGER, Norway -- Norway’s Ministry of Petroleum and Energy has offered new production licenses to thirteen companies in the 23rd licensing round on the Norwegian Continental...

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Nine Energy completes 124-stage well in Utica shale HOUSTON -- Nine Energy Service successfully completed 124 perforated stages in an 18,544 ft lateral (27,034 ft TMD) in Guernsey County, Ohio, for Eclipse Resources, a premier independent E&P...

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Rockhopper confirms potential of Falklands basin oil discovery LONDON (Bloomberg) -- Rockhopper Exploration confirmed potential oil resources in a discovery in the Falklands basin, sending its shares higher. An independent audit showed that the...

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BP doubles its interest in Culzean field in the North Sea LONDON -- BP announced today it has doubled its interest in the Culzean development in the UK Central North Sea, following its acquisition of an additional 16% interest from JX Nippon. The...

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