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Oil bankruptcies reach highest quarterly level since recession

HOUSTON (Bloomberg) -- Bankruptcies among oil and gas companies have reached quarterly levels last seen in the Great Recession, according to the Federal Reserve Bank of Dallas. At least nine U.S. oil and gas companies that accounted for mor......【More】

2015-12-28

Export change means more tankers may leave U.S. carrying crude

NEW YORK (Bloomberg) -- The days of empty oil tankers leaving the Houston Ship Channel are over. Now that the U.S. has ended crude export restrictions after 40 years, tankers bringing crude oil to Houston and other Gulf Coast ports will als......【More】

2015-12-25

First U.S. crude oil set to be exported in January after law change

HOUSTON -- Enterprise Products Partners has secured its first contract to export crude oil produced in the U.S. under a law enacted last week. The law, which was signed by President Obama on Friday, repealed decades-old export restrictions.......【More】

2015-12-24

Fugro wins contract for Exxon’s deepwater Guyana oil development

HOUSTON -- Fugro has been awarded a contract by Esso Exploration and Production Guyana Ltd., an Exxon Mobil affiliate, for survey services at a deepwater field development offshore Guyana. The contract provides for an autonomous underwater......【More】

2015-12-23

Shell-BG deal not yet in bag amid fears of further oil slump

LONDON (Bloomberg) -- Royal Dutch Shell Plc is on the brink of pulling off its biggest acquisition. Yet the widening discount of target BG Group Plc to the offer price shows that a further steep drop in oil prices could still put the deal i......【More】

2015-12-22

Libya's Eastern Oil Company to sign oil sales amid UN peace deal

DUBAI (Bloomberg) -- The National Oil Corp. affiliated with the internationally recognized government in eastern Libya said it will sign agreements with six companies to sell the countrys crude oil after a peace deal was signed between riva......【More】

2015-12-21

Algeria to boost 2016 oil output, offer rights amid global glut

ALGIERS (Bloomberg) -- Algerias state oil producer Sonatrach Group plans to raise crude output by 5% next year and offer energy-exploration rights to foreign companies by the end of March, steps that may add barrels to an oversupplied globa......【More】

2015-12-18

Crude price no obstacle as Mexico sells all areas auctioned

MEXICO CITY (Bloomberg) -- The opening of Mexicos oil industry is warming up after a slow start. Mexico awarded all of its 25 onshore fields auctioned Tuesday, defying the six-year low in crude prices that has dogged the worldwide oil indus......【More】

2015-12-17

Oil rout to claim more victims after first Norway bankruptcy

OSLO, Norway (Bloomberg) -- The collapse of oil prices has claimed its first bankruptcy victim in Norways offshore industry, and analysts warn more may follow. Dolphin Group ASA, a seismic surveyor that maps the seabed for oil and gas reser......【More】

2015-12-16

House Democrats said to be open to lifting U.S. oil export ban

WASHINGTON (Bloomberg) -- House Democrats are now open to lifting the 40-year-ban on U.S. crude-oil exports, negotiating with Republicans in hopes of extracting trade-offs in exchange for a top Republican priority, a Democratic leadership a......【More】

2015-12-15