Energy

Abdullah al-Badri

Don't panic, OPEC secretary general says after oil price fall

There is no need to panic at the recent drop in oil prices, the secretary general of OPEC said on Wednesday, saying low prices would curb competing supplies and require the group to pump far more by the end of the decade.

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Royal Dutch Shell PLC

Energy stocks attractive after steep sell-off: Barron's

A steep sell-off in energy company stocks in recent months due to falling oil prices may be overdone and there are some potential bargains to be had, Barron's financial newspaper said in its latest edition on Sunday.

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Oil tanker

U.S. oil export battle heats up as drillers group to fight ban

More than a dozen oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters say would create jobs and keep the energy boom alive, a spokesman for one of the companies and a lobbyist for another one said on Friday.

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Gulf Coast Countries

Gulf states need to reform spending as oil price slips: Kuwait

Gulf Arab oil exporters will have to reform their state spending and make cuts in some areas because of weak oil prices, Kuwaiti Finance Minister Anas al-Saleh said on Saturday.

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Nuclear power plant

Areva-Siemens raises claim to $4.4 billion over Finnish reactor delays

The French-German consortium Areva-Siemens (AREVA.PA)(SIEGn.DE), the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday.

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War in Syria

Islamic State keeps up Syrian oil flow despite U.S-led strikes

Islamic State is still extracting and selling oil in Syria and has adapted its trading techniques despite a month of strikes by U.S.-led forces aimed at cutting off this major source of income for the group, residents, oil executives and traders say.

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Oil refinery

Look to energy names for global demand clues

Slumping energy shares drove the recent U.S. stock market selloff more than any other major group, so investors are turning to next week's slate of earnings to see if the sector can pull itself out of the pit.

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Boeing

Boeing and Chinese partner to make jet fuel from 'gutter oil'

Aircraft makers Boeing and Commercial Aircraft Corp of China have launched a joint pilot project to turn used cooking oil into jet fuel.

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Power lines

Japan's power failure: Bid to forge national grid stumbles

After the Fukushima disaster crippled Japan's nuclear energy sector three years ago, the government pledged the biggest shake up in the history of the fragmented electricity industry to boost competition and contain a surge in power prices.

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Venezuela's President Nicolas Maduro

Maduro says Venezuela's 2015 budget to put oil at $60 dollars

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

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Europe-Asia summit

Russia and Ukraine reach tentative gas deal in tough Milan talks

Russia and Ukraine made progress on Friday towards resolving a dispute over gas supplies in time for winter, but European leaders said Moscow still had to do much more to prop up a fragile ceasefire and end fighting in eastern Ukraine.

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General Electric (GE)

GE posts higher quarterly profit, helped by aviation, oil and gas

General Electric Co (GE.N) posted higher quarterly net income on Friday, helped by sales of its jet engines and oil and gas equipment.

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Statoil ASA

Statoil exits Shah Deniz gas project with stake sale to Petronas

Statoil (STL.OL) exited Azerbaijan's Shah Deniz gas project on Monday, selling a 15.5-percent stake to Malaysia's Petronas [PETRA.UL] for $2.25 billion as part of asset sales to shore up returns to shareholders.

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Oil refinery

Worrying for Saudi, U.S. oil output cuts could take a while

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. Slowing a U.S. drilling boom, however, could take more than a year.

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Oilfield

Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide

Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.

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