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5 Jul 2013 14:07

UK must act to save $500 bln of oil, North Sea firms say

* Pending platform closures will leave oil in ground * Some 4.88 bln barrels at risk of stranding * Small offtake agreements not a priority for oil majors By Claire Milhench LONDON, July 5 (Reuters) - Britain must get tough with major oil firms that prevent smaller produce

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4 Jul 2013 19:43

UPDATE 2-Brazil seeks at least $7 bln from largest oil find auction

* Expects $7 billion signature bond from Libra auction * Firms must offer Brazil 40 pct of Libra profit oil -CNPE * Libra's oil output seen at more than 1 mln bpd, may start in 5 years * OGX is qualified to bid SINGAPORE/RIO DE JANEIRO, July 4 (Reuters) - Brazil expects an

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4 Jul 2013 15:40

Shell CFO reinvests divi after big oil discovery

Simon Henry, the Chief Financial Officer (CFO) of oil giant Shell, reinvested dividends in the company the same day that it announced a significant deep-water oil discovery in the Gulf of Mexico. Dividends received from Shell's 'class B' shares acquired under an employee share plan were then automa

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4 Jul 2013 05:18

Santos, BG to link Australia LNG pipelines in bid to cut costs

By Rebekah Kebede PERTH, July 4 (Reuters) - Australia's Santos Ltd and BG Group PLC agreed on Thursday to link their major gas pipelines, allowing them to buy, sell, and swap gas supplies - a move that will help slash costs at a time when they have been hit by budget overruns. The lo

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3 Jul 2013 16:44

London close: Political uncertainty hits stocks hard

The UK market suffered steep falls on Wednesday as risk appetite was hit by disappointing economic data from China, political uncertainty in Portugal and fears of a military coup in Egypt. Nerves were also on edge ahead of policy decisions from the Bank of England and European Central Bank tomorrow

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3 Jul 2013 15:08

FTSE 100 movers: China concerns weigh heavily on miners

Mining stocks were once again bearing the brunt of a fall in risk appetite on Wednesday as concerns over demand for commodities were sparked by some disappointing economic data from China. Anglo American, Glencore Xstrata, BHP Billiton, Vedanta and Antofagasta were among the worst performers. Lead

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3 Jul 2013 12:54

UPDATE 2-Kazakh head reshuffles oil officials after Kashagan delays

* Strongman president irked by Kashagan delays * Higher oil output critical for Kazakhstan's fast growth By Raushan Nurshayeva ASTANA, July 3 (Reuters) - Kazakhstan's President Nursultan Nazarbayev reshuffled the nation's top oil officials on Wednesday, demoting a long-serving m

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3 Jul 2013 11:26

London midday: Stocks hit by political uncertainty, economic data

Political uncertainty in Europe, disappointing economic figures from China and nervousness ahead of some key 'risk events' later this week prompted a sell-off on the FTSE 100 on Wednesday morning. Resignations of both the Portuguese Finance Minister and Foreign Minister over the last few days have

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3 Jul 2013 08:25

London open: Risk appetite sinks ahead of key economic data

The FTSE 100 dropped sharply in early trading on Wednesday as economic data from China continues to disappoint, while nerves were setting in ahead of some key risk events later on in the week. Activity in China's services sector remained sluggish in June with the official non-manufacturing purchasi

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3 Jul 2013 07:41

Royal Dutch Shell unveils success in Gulf of Mexico

Royal Dutch Shell on Wednesday revealed significant drilling results at an exploratory well at the Vicksburg discovery in the Gulf of Mexico. The well, located 75 miles offshore in the De Soto Cayon Block 393 in 7,446 feet (ft) of water, encountered more than 500ft of net oil pay after being drill

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3 Jul 2013 06:15

Shell finds oil at Gulf of Mexico drill

LONDON, July 3 (Reuters) - Royal Dutch Shell said it had found oil at its latest deepwater drill in the Gulf of Mexico. The Vicksburg 'A' discovery, 120 km offshore, was estimated to hold potentially recoverable resources of more than 100 million barrels of oil equivalent, Shell said on Wed

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2 Jul 2013 17:03

UPDATE 2-Kazakhstan to buy ConocoPhillips stake in Kashagan oilfield

* KazMunaiGas to buy 8.4 pct stake on behalf of Kazakh state * Conoco says expects about $5 bln in proceeds from sale * Kazakh official says China's CNPC to be offered stake By Raushan Nurshayeva ASTANA, July 2 (Reuters) - Kazakhstan will buy ConocoPhillips out of the Kash

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2 Jul 2013 11:52

EU mergers and takeovers (July 2)

BRUSSELS, July 2 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- U.S. group General Electric Co to buy the aviation business of Italian plane components maker Avio from private equit

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2 Jul 2013 10:43

Kazakhstan tells ConocoPhillips it will buy its Kashagan stake

ASTANA, July 2 (Reuters) - Kazakhstan on Tuesday notified ConocoPhillips that it would use its pre-emptive right and buy the U.S. oil major's 8.4 percent stake in the giant Kashagan oil project, the Kazakh Oil & Gas Ministry said in a statement. National oil company KazMunaiGas will buy the

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2 Jul 2013 08:33

NORWAY GAS-Exports rise to Britain

* Norway gas exports total 292 mcm/d * Deliveries to Britain at 57 mcm/d OSLO, July 2 (Reuters) - Norwegian pipeline gas exports to Europe rose on Tuesday morning compared with the previous day's average, data from gas system operator Gassco showed. Deliveries to continental Europe a

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