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Oil & Gas

Total to invest $21 million in UK shale gas exploration

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French oil and gas company Total will obtain a 40% interest in two shale gas exploration licenses in Lincolnshire, under an agreement with British energy firm IGas Energy.
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ExxonMobil launches new capacity at Singapore chemical plant

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U.S. energy company ExxonMobil has announced the opening of its expanded chemical plant in Singapore that will be able to process crude oil, as well as other commodities.
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Fracking companies in California ordered to report offshore chemical discharges

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The new regulation will apply only to new drilling activities on about 20 platforms situated in federal waters close to the Santa Barbara coast.
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Global crude oil demand to increase in 2014

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This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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US crude oil export ban should be lifted, Chamber of Commerce says

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The pressure on the federal government to lift the ban on U.S. crude oil exports is building, after the U.S. Chamber of Commerce joined the long list of industry groups, trade bodies and organizations that are demanding an end to the restriction.
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North Dakota train accident will not affect rail movements of crude, analysts say

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While the North Dakota incident might lead to increased regulatory scrutiny, experts believe that it will not significantly affect the use of rail as a means of transporting oil.
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Fracking-related water contamination confirmed in several states

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At least three states -- Pennsylvania, Ohio and West Virginia -- have confirmed water pollution in response to complaints related to hydraulic fracturing operations.
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BP completes Whiting refinery modernization with new coker unit

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BP has completed the upgrade of its Whiting facility in Indiana with the commissioning of a new coker that will process more Canadian oil sands crude and generate an extra $1 billion of operating cash flow per year.
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API: US oil, gas industry invested $153 billion in drilling in 2012

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U.S. oil and gas companies invested about $153.7 billion in drilling operations in 2012, working on an estimated 46,736 wells, according to the latest Joint Association Survey on Drilling Costs.
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US demand for refined petroleum products goes up in November

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Demand for petroleum products in the United States increased by 4.9 percent in November compared to the same month in 2012, reaching an average of 19.4 million barrels per day.
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