Oswald Clint News
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Russia’s thirst for modern rigs able to drill in shale oil deposits heralds a $9 billion bonanza for manufacturers including National Oilwell Varco Inc. of the U.S. and China’s Honghua Group.
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Total SA, Europe’s third-largest oil producer, reported a 7 percent decline in earnings as output fell and weakening fuel demand pushed down the price of crude.
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Royal Dutch Shell Plc, Europe’s biggest oil company, reported an increase in first-quarter earnings on new projects and refining.
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Royal Dutch Shell Plc’s oil and gas production in the Americas will remain a “low return business” at least through 2015 because of weak prices, according to Sanford C. Bernstein & Co.
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Clifford Chance LLP advised Royal Dutch Shell Plc, the world’s largest supplier of liquefied natural gas, on its agreement to buy LNG assets from Repsol SA for $4.4 billion in cash to expand in Latin America and Spain. Linklaters LLP, with a team led by Madrid corporate partners Alejandro Ortiz and Lara Hemzaoui and London projects partner Matthew Hagopian, advised energy company Repsol.
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Hugo Chavez leaves his successor the task of reviving Venezuela’s oil fields after the late president’s policies of limiting investment and expelling U.S. drillers reduced production by 13 percent over the past decade.
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Royal Dutch Shell Plc, the world’s largest supplier of liquefied natural gas, agreed to buy LNG assets from Repsol SA for $4.4 billion in cash to expand in Latin America and Spain.
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Chevron Corp. and Genel Energy Plc are hunting for elephants in Morocco. Not the animal, rather the giant oil fields that send explorers’ market values soaring when they’re discovered in the frontier.
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Tullow Oil Plc, the U.K. explorer searching for Ethiopia’s first crude, fell to a 19-month low in London trading after delaying the Sabisa well.
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Premier Oil Plc, a U.K. energy explorer operating from the U.K. to Southeast Asia, said delays in starting North Sea fields will hold back production in 2013.
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