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Shell urges Obama to end 40-year oil export ban
The chief executive of Royal Dutch Shell has urged Barack Obama to lift America's 40-year ban on oil exports.
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Rosneft and AVTOVAZ Strengthen Strategic Cooperation
Rosneft President, Chairman of the Management Board Igor Sechin and AVTOVAZ President Bo Inge Andersson signed an Agreement of development of strategic cooperation, which significantly expands the scale of partnership between the companies.
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Petrobras launches latest FPSO, to start oil output in Q4
Brazilian state-run oil company Petrobras launched its latest production platform over the weekend, part of a massive buildup of its offshore production fleet over the past 18 months that is expected to boost output 7.5% in 2014.
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ONGC-Mittal Energy Ltd gives up oil block in Nigeria
ONGC-Mittal Energy Ltd, the famed joint venture of ONGC and steel czar Lakshmi Mittal, has relinquished an oil block in Nigeria after the African nation refused to relieve it of a $ 6 billion downstream investment commitment.
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Petrobras eyes 33 new production wells by year-end
Brazil's state-run oil company Petrobras will bring 33 wells online by December, amid bullish production forecasts at deepwater fields.
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ONGC Videsh signs PSCs for two onshore blocks in Myanmar
ONGC Videsh Ltd (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp (ONGC) has signed Production Sharing Contracts (PSCs) for two onshore blocks in Myanmar, ONGC said Monday.
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KrisEnergy acquires Chevron Cambodia unit - PR
KrisEnergy Ltd . ( “KrisEnergy” or “ the “Company”), an independent upstream oil and gas company, announce s th at it s wholly owned subsidiary, KrisEnergy (Asia) Ltd, has entered into an agreement with Chevron Global Energy Inc. to acquire the entire issued sha re capital of Chevron Overseas Petroleum (Cambodia) Limited (“Chevron Cambodia”) , which holds a 30% participating interest in , and operatorship of, Cambodia Block A.
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New Caledonia cancels vast Eramet, Vale nickel project
New Caledonia on Friday cancelled a deal with Brazilian mining giant Vale and France's Eramet to allow the exploration of one of the last major untapped nickel deposits in the world.
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Statoil completes 2014 Hoop exploration programme
Operator Statoil has together with its partner Idemitsu Petroleum Norge made a small gas discovery in the Mercury prospect in PL614 in the Barents Sea.
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Shell starts oil production from Bonga North West deep-water project
Shell’s deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Ltd (SNEPCo), has announced it started oil production from the first well at the Bonga North West deep-water development off the Nigerian coast on Tuesday 5 August 2014.
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Shipping Rates Seen Rallying as Vale Iron Ore Cargoes Accelerate
Shipping rates are poised to rally in the second half of the year as Vale SA, the world’s largest iron ore producer, drives up exports of the raw material, according to Commodore Research & Consultancy.
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Directorate General of Hydrocarbons rejects ONGC's three KG gas discoveries
After rejecting Reliance Industries' gas finds, upstream regulator DGH has refused to recognise three gas discoveries of state-owned Oil and Natural Gas Corp (ONGC) for not doing its prescribed conformity tests.
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Total, E.ON to exit pipeline to bring Azeri gas to Italy
France's Total and Germany's E.ON plan to withdraw from a pipeline scheme to bring Azerbaijan's gas to Italy, an Azeri official said, as falling Italian demand puts energy projects there into doubt.
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EU asks Bulgaria to stop work on Gazprom's South Stream pipeline
The European Commission has asked the Bulgarian government to suspend work on Gazprom's South Stream gas pipeline pending a decision on whether it conforms with EU law, a Commission spokeswoman said on Tuesday.
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Eni signs strategic agreements for Perla super-giant field in Venezuela
The Minister of Petroleum and Mines of Venezuela and President of PDVSA, Rafael Ramírez, Eni's CEO, Claudio Descalzi, and Repsol's President, Antonio Brufau, signed strategic agreements concerning the exploitation of the Perla field, one of the largest worldwide discoveries of the last decade.
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Russia's Lukoil, Transneft agree cooperation on oil, product routesq
Russia's state-owned pipeline operator Transneft and the country's largest oil independent Lukoil said Friday they had reached a cooperation agreement on expansion of the domestic northwestern Sever diesel pipeline and construction of the South diesel route via southern Russia.
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Turkey's TPAO signs $1.5 bln deal to buy Total's stake in Azeri gas project
Turkey's state oil company TPAO signed a $1.5 billion deal on Friday to acquire French energy company Total's 10 percent stake in Azerbaijan's Shah Deniz gas project, at a signing ceremony in Istanbul.
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EU proposes Ukraine pay $2 billion of Russian gas bill by Friday
Ukrainian gas company Naftogaz and Russian gas company Gazprom are considering an EU proposal where Naftogaz pays Gazprom $2 billion by Friday in exchange for talks on a new gas price and no prepayment in June, the European Commission said late Monday.
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ONGC spuds first well in Palar Basin
ONGC opened up yet another chapter in the history of exploration when the first well in Palar Basin was spudded by Mr Narendra K Verma, Director (Exploration) in a location some 55 km from Chennai city on May 25, 2014.
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Coeur reports Q1 loss despite rising silver and gold output
Coeur Mining Wednesday reported a 7% increase in silver production to 4.1 million ounces, as well as 3% increase in gold production to 58,836 ounces during the first quarter of the year.
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Freeport-McMoRan Announces Agreement to Sell Eagle Ford Interests for $3.1 Billion
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced today that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has entered into a definitive purchase and sale agreement to sell its Eagle Ford Shale assets for $3.1 billion to a subsidiary of Encana Corporation (Encana) (TSX, NYSE: ECA).
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Chevron needs 2 1/2 years to decide on Morocco prospects
U.S energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday.
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Newmont Indonesia to cut Batu Hijau copper output from June on export permit delay
Indonesia's Newmont Nusa Tenggara was expected to reduce production at its Batu Hijau copper and gold mine around June 1, unless it is able to complete the process to secure an initial export permit from the government, the company said Wednesday.
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Lower precious metals prices thump Kinross net earnings
Kinross Gold Wednesday reported first-quarter 2014 production of 664,690 gold equivalent ounces (GEO), up from 648,897 GEO in the first quarter of 2013.
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Implats says most miners want to end platinum strike
Impala Platinum said on Friday that two thirds of its striking workers had indicated by text messages and phone calls that they want to accept the company's latest wage offer and end South Africa's longest and most costly mining strike.
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Newmont flags June halt to Indonesia copper, gold operations
Newmont Mining Corp said it will be forced to cut production at its Batu Hijau copper and gold mine in Indonesia from around June 1, if talks with the government remain unresolved over export permits and taxes.
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Rio Tinto gets set for automated heavy-haul tests
RIO Tinto is to start tests of driverless heavy-haul iron ore trains on the Tom Price railway in the Pilbara region of Western Australia this month as it moves towards completion of its AutoHaul automation project.
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Statoil’s farm down in Shah Deniz and South Caucasus Pipeline completed
On 1 May 2014 Statoil completed the farm down of 10% of its interest of 25.5% in the Shah Deniz Production Sharing Agreement and the South Caucasus Pipeline Company Limited to BP (3.33%) and SOCAR (6.67%).
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‘LNG supply agreement with Shell to be finalised soon’
Jordan is expected to sign an agreement with Royal Dutch Shell before the end of June to supply liquefied natural gas (LNG) to a terminal in Aqaba, a senior official said on Monday.
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BP has record 11 deepwater rigs running in Gulf of Mexico: BP America CEO
Four years after the Macondo oil spill, BP has 11 operated rigs running in the US Gulf of Mexico, the most the company has ever had there at one time, BP America's CEO said Monday.
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Gazprom, Ukraine agree no gas supply disruptions in May
Energy officials from the EU, Russia and Ukraine agreed during a meeting in Warsaw that there will be no gas supply disruptions to customers in Ukraine and the EU while negotiations are ongoing in May, EU energy commissioner Guenther Oettinger said Friday.
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Newmont Responds to Barrick Press Release
In response to the most recent press release issued by Barrick Gold Corporation (NYSE: ABX)(TSX: ABX), Newmont Mining Corporation (NYSE: NEM) confirms that the two companies had settled a preliminary draft summary of indicative terms for discussion purposes.
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Barrick Clarifies Merger Discussions with Newmont
In response to a press release issued today by Newmont Mining, Barrick Gold Corporation (NYSE:ABX)(TSX:ABX)(Barrick or the “company”) confirms that the company had negotiated a term sheet for a proposed merger between Barrick and Newmont, which was agreed upon and signed by both parties on April 8.
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Peru OKs $1.4 bln exploratory work in natgas block bought by CNPC
Peru has approved an environmental permit that will allow China National Petroleum Corp to do $1.39 billion of exploratory work in a natural gas block it is buying from Brazilian state-run oil company Petrobras.
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Exxon’s $900 Billion Arctic Prize at Risk After Ukraine
Exxon Mobil (XOM) Corp.’s dream of drilling in the Russian Arctic may risk running aground on the politics of Ukraine.
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US extends Russia sanctions to 7 officials, 17 companies linked to Putin
The US on Monday said it has imposed sanctions on seven Russian government officials, including Igor Sechin, president and chairman of state-owned oil company Rosneft, in response to the escalation of tensions in Ukraine.
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Rio Tinto to test driverless trains in the Pilbara
Rio Tinto is gearing up to start testing driverless trains in Western Australia's Pilbara, in what it believes is a world first for mining.
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Explosion in Colombia mine leaves 4 dead, poisons more than 65
Four dead miners and 65 more poisoned by inhaling toxic gases was the toll taken by an explosion in a gold mine in the northwestern Colombian municipality of Buritica, emergency management services said Saturday.
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Kashagan output may not start till 2016
Output at Kazakhstan's huge Kashagan oilfield may not start until 2016, the Financial Times said on Sunday, citing Kazakhstan's minister for economy and budget planning.
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Tullow pauses Mauritania drilling after second disappointing well
Britain's Tullow Oil has paused its drilling programme in Mauritania after a second exploration well in the West African country's offshore waters failed to produce enough oil or gas, the company said on Friday.
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