Oil Companies News
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Updated 9 minutes ago
Mitt Romney is pressing to refocus the Republican presidential race on jobs and the economy in the sprint to potentially pivotal Super Tuesday contests next week, looking to blunt rival Rick Santorum’s bid to sow doubts about his record on social issues.
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President Barack Obama said his Republican critics are “licking their chops” at the prospect of rising gasoline prices as higher energy costs threaten to crimp the economic recovery.
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YPF SA, Argentina’s largest energy company, rose the most in a decade after President Cristina Fernandez de Kirchner didn’t address a potential nationalization of the company as speculated in local media reports.
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Saudi Arabia is deploying the most oil rigs in four years as it prepares for possible shortages caused by tension with Iran, giving President Barack Obama one less reason to answer calls to curb prices by releasing supplies from America’s emergency reserves.
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-- CGG Veritas, the world’s largest seismic surveyor of oilfields, said demand for its services is strengthening after recording a loss in 2011.
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Gasoline shipments to the U.S. from Europe are poised to fall to a seven-week low as the number of available tankers rises, a Bloomberg News survey showed.
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Brent crude advanced a second day in London as the U.S. intensified pressure on Iran to halt its nuclear program, outweighing signs of increased crude supplies.
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China is setting up emergency oil- storage facilities at Shanshan in western China, Jintan and Zhoushan in the east and Huizhou in the south, according to China Oil, Gas & Petrochemicals.
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Oil swung between gains and losses after the biggest monthly advance since October as speculation that global economic growth will boost fuel demand countered concern rising supplies will limit price gains.
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Singapore’s stockpiles of fuel oil rose to the highest level in nine months, according to data from the Ministry of Trade and Industry.
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