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Oil traders are betting that Europe is too hooked on Russian fuel for the region to back energy sanctions against President Vladimir Putin. Click here to view sample article
Oman, which faces Iran across the Strait of Hormuz, said it’s poised to start raising cash for a $3 billion rail line offering an alternative route for oil and freight shipments. The nation is considering issuing bonds by the end of 2014 to kick-start funding for the track, said Abdulrahman Al Hatmi, a director at Oman National Railway [...]
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Alaskan coastal drilling by oil companies including ConocoPhillips and Royal Dutch Shell Plc may be further delayed after a federal appeals court ruled the government acted illegally in opening almost 30 million acres on the continental shelf for oil drilling. The Sierra Club and other organizations sued the government after the $2.6 billion sale of [...]
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China’s $37 billion bet on Canadian energy producers, from Sunshine Oilsands Ltd. to Penn West Petroleum Ltd., is producing disappointing results amid sinking resource prices and operational breakdowns. Click here to continue reading.
OPEC, content with current oil price levels, agreed to keep the group’s crude output ceiling unchanged at least until June even as Libya, Iran and Iraq plan to increase exports in coming months. Click here to continue reading sample article.
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Penn Virginia may sell assets to pay down a revolving line of credit as it seeks to cut indebtedness and gain positive free cash flow by 2016. Click HERE for more.
All 14 Forties crude cargoes scheduled to load in August were deferred because of planned and unplanned outages in North Sea oil fields and a pipeline. The net effect of the delays is an increase in September loadings to a daily rate of 420,000 barrels a day, and a decrease in those scheduled for August to 213,000, according to [...]