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Russia Begins Drilling Northmost Well

August 11, 2014 10:33 am | by Associated Press | Comments

The well is part of a joint project between the Russian state-owned oil company Rosneft and ExxonMobil to develop the region's oil reserves, which are estimated at up to 100 billion barrels.                     

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1 Dead In Refinery Blast

August 11, 2014 10:24 am | by Associated Press | Comments

Mexico's state-owned oil company says one worker died when a gas leak caught fire and shout out flames at a refinery in the northern state of Tamaulipas.                            

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WV Chemical Spill Cost: $11M

August 8, 2014 3:41 pm | by Associated Press | Comments

A West Virginia water supplier has taken an $11 million hit to address a January chemical spill that tainted 300,000 people's tap water.                                  

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The flow of natural gas, water and sand has been stopped at a drilling rig off Louisiana's coast, the operator and federal regulators said Saturday.

U.S. Rig Count Up To 1,908

August 8, 2014 3:35 pm | by Associated Press | Comments

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose 19 this week to 1,908.                                          

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Chemicals mergers and acquisitions (M&A) activity in the fourth quarter of 2013 saw a large uptick that helped level off 2013 overall deal volume and value, largely in part due to divestitures and mega deals – those valued at more than $1 billion, accordi

Q2 Chemicals M&A Activity Driven By Mid-Market Acquisitions

August 8, 2014 9:31 am | by PwC US | Comments

Chemicals mergers and acquisitions (M&A) activity in the second quarter of 2014 more than doubled in value and volume when compared to the same period last year. Mid-market transactions ($50 - $250 million) accounted for 68 percent of total deal activity and over 20 percent of value, helping push total second quarter deal value to more than $12 billion.

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EPA To Hold Public Pebble Mine Meetings

August 8, 2014 9:25 am | by Associated Press | Comments

The U.S. Environmental Protection Agency is hosting public meetings in Alaska on proposed restrictions for development of the Pebble Mine.                                    

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Tribe Demands Fees For Wasted Natural Gas

August 8, 2014 9:22 am | by JAMES MacPHERSON, Associated Press | Comments

Tribal leaders on an American Indian reservation in the heart of North Dakota's booming oil patch are proposing fees for companies that burn and waste natural gas.                            

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Statoil Comes Up Dry In The Arctic

August 7, 2014 4:06 pm | by KARL RITTER, Associated Press | Comments

Norway's Statoil ASA has found no commercial quantities of oil and gas at the northernmost wells it has ever drilled in the Arctic, the government-controlled company said Thursday.                 

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NRG Closing Illinois Coal Plant

August 7, 2014 4:04 pm | by Associated Press | Comments

An energy company has announced plans to close one Illinois coal-fired generating unit in Romeoville and convert a facility in Joliet to natural gas to reduce carbon dioxide emissions. The company says the move will eliminate 250 jobs. 

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Man Pleads Guilty To Mine Kickback Scheme

August 7, 2014 4:01 pm | by JONATHAN MATTISE, Associated Press | Comments

David E. Runyon's guilty plea came in U.S. District Court in Charleston. He faces up to 25 years in prison and $500,000 in fines for extortion and tax evasion.                         

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Oil Boom & Housing Bust Alter Spending Trends

August 7, 2014 4:00 pm | by CHRISTOPHER S. RUGABER, AP Economics Writer | Comments

Americans spend the most, per person, on housing in Washington, D.C., and the least in West Virginia. Those and other figures emerged from a new annual report from the government that for the first time reveals consumer spending on a state-by-state basis. The numbers point to substantial shifts in the economy since the recession ended.

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A handful of the hundreds of creditors seeking compensation from the company at the center of West Virginia's chemical spill that deprived residents of usable tap water for days questioned top executives Tuesday in bankruptcy court.

WV Seeks $1.8M From Freedom Industries After Spill

August 7, 2014 3:56 pm | by Associated Press | Comments

The state of West Virginia is seeking $1.8 million from the bankrupt company that spilled chemicals into the state's largest water supply.                                         

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WTO Upholds Rare Earth Ruling Against China

August 7, 2014 3:54 pm | by Associated Press | Comments

The World Trade Organization has upheld a ruling that China violated international trade rules with restrictions on the export of "rare earths," the minerals used in mobile phones, hybrid cars, flat-screen TVs and other high-tech products.

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Venezuela Considers Selling Citgo

August 7, 2014 9:49 am | by HANNAH DREIER, FABIOLA SANCHEZ, Associated Press | Comments

Venezuela's government has confirmed that it is considering the sale of its oil refining and distribution network in the U.S. amid a worsening economic crisis.                         

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Mexico Approves Oil Sector Opening

August 7, 2014 9:45 am | by E. EDUARDO CASTILLO, Associated Press | Comments

Mexico's Congress approved a comprehensive energy reform that will break more than seven decades of state monopoly and dramatically expand the role of foreign and private companies in the country's oil and gas industry.              

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