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Oil little changed ahead of US supply report

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The Associated Press The price of oil was little changed below $103 barrel Thursday as traders awaited confirmation of a large rise in U.S. crude stockpiles. By early afternoon in Europe, benchmark crude for July delivery was down 4 cents to $102.68 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the Nymex contract dropped $1.39 ...

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Exxon CEO predicts alternative energy will grow but oil to remain top fuel through 2040

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DAVID KOENIG , Associated Press DALLAS — The CEO of Exxon Mobil Corp. says alternative fuels will grow but that oil will remain the world’s leading source of energy for another quarter century. CEO Rex Tillerson says natural gas will surpass coal as the second most heavily used fuel. Tillerson made the comments Wednesday at the company’s annual shareholder meeting. About 15 ...

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Chevron shareholders reject independent chair

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MIDLAND Texas (Reuters) – Shareholders of Chevron Corp <CVX.N>, the second-largest U.S. oil company, rejected a proposal on Wednesday to split the roles of chairman and chief executive, both currently held by John Watson. The vote casts further doubt on the long-running campaign by shareholder activists to force some of the largest U.S. corporations to splice the positions, a step ...

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Worthington Energy Discusses Existing Assets on Barr Lease

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SAN FRANCISCO, CA, United States, via eTeligis Inc., 05/28/2014 – – Worthington Energy, Inc. (OTCQB: WGAS) (“Worthington” or the “Company”), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, takes this opportunity to provide additional information on the existing assets currently in place on the Barr lease acquired from American Dynamic Resources, ...

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Marathon to pay $2.87B for retail side of Hess Corp.

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FINDLAY — Marathon Petroleum Corp. announced Thursday that it will pay $2.87 billion to buy 1,256 convenience stores from Hess Corp. The Hess stores will become Speedway stores over the next three years. Speedway LLC is a subsidiary of Findlay Marathon Petroleum. The deal also includes a transportation fleet capable of transporting about 1 billion gallons a year, as well ...

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Austin carbon capture company Skyonic raises $12.5 million

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By Lori Hawkins for the Austin American-Statesman Austin-based chemical engineering firm Skyonic Corp. has raised additional funding to continue developing technology that would turn carbon dioxide emissions into profitable products. The company said Thursday it has received $12.5 million from existing investor ConocoPhillips and new investor Enbridge, a Canadian energy distributor that owns and operates Canada’s largest natural gas distribution ...

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Inspectorate Opens New Crude Oil Testing and Inspection Facility in Williston, North Dakota

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Press Release – Bureau Veritas Group Houston – Inspectorate,  a core part of the Bureau Veritas Commodities Division, announced today the opening of a new analytical laboratory, specializing in the analysis of crude oil and gas produced from the Bakken shale play in North Dakota. The new laboratory will provide support services for oil and gas drillers, shipping companies and traders needing real time ...

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Trafigura seeks investors for Texas oil terminal shipping shale

(Reuters) – Global trader Trafigura AG is seeking potential investors to buy a stake in its oil terminal and storage facility in Corpus Christi, Texas, a once-quiet port that has become a bustling hub for shipping Eagle Ford shale crude. Trafigura, which like other big commodity merchants has in recent years moved to buy key infrastructure assets to support its ...

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