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Oil & Gas

BP Spill Fund Winding Down After $4 Billion Paid Out

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Reuters reports that the fund BP set up to deal with compensation claims after 2010''s Gulf of Mexico oil spill is starting to wind down after paying out around $4
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Exxon Facing Questions About Natural Gas Push

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The Associated Press reports that Exxon Mobil Corp. rode higher oil prices to a $30 billion profit last year, but shareholders at its annual meeting Wednesday were more concerned about
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Chevron Seeks to Restart Its Richmond Refinery Project

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Bloomberg reports that Chevron Corp. sought permission from Richmond, California, regulators yet again to upgrade equipment at its refinery there. A California court halted construction on new equipment at the
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BP Receives $1 Billion Settlement from Gulf Well Partner

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According to the Associated Press, BP has struck a deal to receive around $1 billion from one of its minority partners in the blown-out Gulf of Mexico well, raising hopes
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Thirty People Hospitalized After Chlorine Gas Leak in Brazil

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The Associated Press reports that chlorine gas leaked from a petrochemical plant has sent 30 people to the hospital in northeastern Brazil. Children and elderly are among those hospitalized with
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Republican Plan to Expand U.S. Offshore Oil Blocked in Senate

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According to Bloomberg, a Republican proposal to expand offshore drilling was blocked in the Senate, one day after Democrats failed to advance legislation that would repeal $21 billion in tax
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Senate Blocks Bill Repealing $2 Billion in Oil Tax Breaks

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According to the Associated Press, the Senate blocked a bill that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response
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BP-Rosneft $16 Billion Share Swap Deal Fails

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BP''s hopes of making Arctic oil production the key to its recovery from the Gulf of Mexico spill were dealt a severe blow after it failed to secure a $16
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Transocean Shareholders Agree to $1 Billion Dividend

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Shareholders of Transocean Ltd. approved a $1 billion dividend and rejected a company-backed plan to discharge directors and executives for liability stemming from last year''s Gulf of Mexico oil spill,
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Oil CEOs Head to Capitol Hill

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The Associated Press reports that Senate Democrats are calling top executives from the five biggest oil companies before a congressional hearing to discuss the high gasoline prices, big profits and
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