Roger Read News
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U.S. drivers may face a $13 billion increase in the cost of gasoline this year as the price of federally mandated ethanol credits has risen 10-fold for oil refiners including Valero Energy Corp. and CVR Energy Inc.
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U.S. drivers may face a $13 billion increase in the cost of gasoline this year as the price of federally mandated ethanol credits has risen 10-fold for oil refiners including Valero Energy Corp. and CVR Energy Inc.
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Hess Corp. Chairman and Chief Executive Officer John Hess said his plans to shed several units and focus on oil exploration and production aren’t a response to criticism from activist shareholder Paul Singer’s Elliott Management Corp.
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Tesoro Corp . was fined $2.39 million by Washington regulators, the largest penalty for workplace safety violations in the history of the state, for an April 2 explosion at its Anacortes refinery that killed seven people.
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Noble Corp., the offshore-drilling contractor building 11 new rigs, rose after telling analysts that usage and lease rates for its vessels are improving throughout the world.
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Halliburton Co., the world’s second- largest oilfield-services provider, said it’s conducting an internal investigation of its Angolan operations after receiving an anonymous e-mail alleging violation of the U.S. Foreign Corrupt Practices Act.
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Higher crude prices and rising imports may be in store for the U.S. after the government slashed its forecasts for Gulf of Mexico output by 6.1 percent following the BP Plc spill, the worst in the nation’s history.
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Saudi Arabia’s Capital Market Authority is in discussions with international banks to open the country’s stock exchange to foreign investors early next year, three bankers familiar with the matter said.
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Oil rose, capping its biggest weekly gain since February, after economic data from the U.S. and China bolstered optimism that demand is growing in the world’s two largest energy-consuming countries.
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Halliburton Co. , the world’s second- largest oilfield-services provider, declined 4.8 percent after profit fell in all regions outside of North America, disappointing investors’ expectations for global business.
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