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Congress eyes tax break for oil refiners in exchange for crude oil exports

WASHINGTON D.C. (Bloomberg) -- Lawmakers in Washington are pushing a tax break for oil refiners as part of a compromise allowing unfettered crude-oil exports for the first time in 40 years. Senator Tom Carper, a Delaware Democrat, proposed......【More】

2015-12-14

Oil giants pledge deeper spending cuts amid prolonged slump

CHICAGO (Bloomberg) -- Some of the biggest oil explorers in the Western Hemisphere are cutting budgets yet again to conserve cash as a plunge in energy markets shows no signs of abating. ConocoPhillips will reduce capital spending by 25% ne......【More】

2015-12-11

Statoil seeks Tanzanian clarification on impact of new oil law

DAR ES SALAAM, Tanzania (Bloomberg) -- Statoil ASA is seeking clarification on Tanzanias new petroleum law and wants to learn how it will affect companies like itself already operating in the nation, local commercial manager Oivind Holm Kar......【More】

2015-12-10

Canada's oil industry swoons again with crude below $40/bbl

CALGARY (Bloomberg) -- For Canadas oil industry, the bad news wont stop. With OPECs decision on Friday to keep pumping oil in the face of a glut and prices for the commodity falling to their lowest level since 2009, Canadian producers are o......【More】

2015-12-09

OPEC unshackled from quota could add millions of barrels in 2016

VIENNA, Austria (Bloomberg) -- OPECs new free-for-all production stance could lift the lid on millions of barrels of additional crude supply next year. Everyone does whatever they want now that the Organization of Petroleum Exporting Countr......【More】

2015-12-08

OPEC maintains crude production as group defers output target

VIENNA, Austria (Bloomberg) -- OPEC will maintain production at current levels and refrained from setting an official output target, a continuation of the Saudi Arabian-led policy thats driven prices to a six-year low. The Organization of P......【More】

2015-12-07

U.S. demand for oilfield chemicals to exceed $10 billion in 2019

CLEVELAND, Ohio -- U.S. demand for oilfield chemicals is forecast to increase to $10.3 billion in 2019, with healthy growth overcoming declines expected in 2015 and 2016. Although low oil prices in 2015 have led to sharp reductions in explo......【More】

2015-12-04

Texas EOR Associates licenses new EOR technologies

DALLAS, Texas -- Texas EOR Associates, a developer of enhanced oil recovery (EOR) technologies and opportunities, has licensed exclusive U.S. waterflood, fracing and gas injection-EOR rights to patented oil flow optimization technologies ba......【More】

2015-12-03

Oil steadies after worst month since July, as OPEC members gather

NEW YORK (Bloomberg) -- Oil was little changed after its biggest monthly decline since July as OPEC ministers arrive in Vienna ahead of this weeks policy meeting. West Texas Intermediate futures swung between gains and losses. Saudi Arabia......【More】

2015-12-02

Iran gives investors glimpse of $30 billion in oil deals

TEHRAN, Iran (Bloomberg) -- Iran is targeting about $30 billion in investment by offering 70 oil and natural gas projects to international companies as the Persian Gulf country anticipates the lifting of economic sanctions. Iranian official......【More】

2015-12-01