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Oil & Gas

US accounts for 10% of global oil production

The nation's average daily output of tight oil between October and December last year stood at 3.22 million barrels per day.
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Report: Middle East oil & gas companies excel at risk management

The report examined the comparative risk quality of oil, gas and petrochemical facilities located in the Middle East, in comparison to more than 500 similar facilities globally.
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Europe may reconsider stance on fracking

Recent political events in Ukraine and Russia's involvement may cause some EU member-states to reconsider their stance towards hydraulic fracturing.
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Total plans to tap into Iraqi petrochemical market

French oil company Total is exploring options to expand its presence in the Middle East and tap the growing local market by constructing a large petrochemical complex in Iraq.
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Poland moves to attract foreign shale gas companies with tax breaks

Poland is thinking of implementing an extensive shale exploration and development plan that aims to reduce its energy dependence on Russia and boosts its own economy.
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Canadian crude unlikely to prevent North Dakota oil industry growth

If the United States moves to approve the proposed major pipelines carrying Canadian crude, the effect of the increased import of crude from north of the border may not be as significant as many industry representatives claim.
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Enbridge gets approval for major pipeline reversal

Canada's National Energy Board has given the green light to Enbridge's plan to reverse the flow of the pipeline known as Line 9, carrying crude oil from Montreal to Sarnia, Ontario.
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Shell closes Nigerian crude oil pipeline

Royal Dutch Shell announced that its Nembe Creek Trunk oil pipeline in Nigeria was closed on Feb. 23 because of a leak caused by theft.
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Middle East oil industry key for global growth, expert says

Part of the Western world is underestimating the importance of the Middle East as a result of the shale revolution in the United States but this may be too hasty a reaction.
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Shell sells Australian refinery to Vitol

Energy giant Royal Dutch Shell is to sell as many as 870 service stations and its Australian refinery to Swiss oil company Vitol. The deal is worth approximately $2.6 billion.
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