Chesapeake boosting Wyoming holdings

Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash.

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Thailand's PTTEP buys Hess assets in $1 bln deal - Ceo

BANGKOK, April 23 (Reuters) - PTT Exploration and Production Pcl (PTTEP), Thailand's top oil and gas explorer, has bought Hess Corp's assets in Thailand in a $1 billion deal as part of its attempt to boost its gas business, the company's CEO said on Wednesday.

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Patriot Coal To Reduce Coal Production

Patriot Coal Corporation (OTC Pink: PATCA) issued WARN Act notices at its Wells mining complex located near Wharton, West Virginia, and also at its Corridor G mining complex located near Danville, West Virginia. The Wells complex, which includes the Black Stallion Mine, CC10 Mine, and Wells preparation plant, employs 450 people and produced 1.4 million tons of metallurgical coal in 2013.

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Canada to move unilaterally to phase out old rail cars

OTTAWA, April 23 (Reuters) - Canada will require that the use of older rail cars for carrying crude oil be phased out within three years, even though the United States has yet to make such a rule change, according to documents seen by Reuters on Wednesday.

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U.S. poised to be net exporter of gasoline next year -- report

The domestic production boom is pushing the United States as a whole to becoming a net exporter of gasoline -- although the country will continue importing it as well, and some regions will still be heavily dependent on foreign supplies, according to a new report from ESAI Energy.

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GDF Suez signs a Memorandum of Understanding and Cooperation with Pemex

PARIS -- On the occasion of the visit of a French government delegation to Mexico, Gerard Mestrallet, Chairman and CEO of GDF Suez, signed a Memorandum of Understanding and Cooperation with Emilio Lozoya, Chairman and CEO of Pemex, to develop natural gas and other energy projects in Mexico.Mexican and French Presidents Enrique Pena Nieto and Francois Hollande were present at the signing.

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U.S. reports oil reserves highest since 1976

By The Associated Press

Crude oil reserves in the U.S. grew for the fourth straight year, reaching the highest level since 1976, according to an Energy Department report released Thursday.

The report says reserves grew 4.5 billion barrels, or 15 percent, to 33 billion barrels in 2012.

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Anadarko $5 billion settlement clears explorer for growth

The $5 billion settlement of a long-running pollution case will free Anadarko Petroleum to rival the world's biggest energy companies and pursue global ambitions from Mozambique to the Gulf of Mexico.

That is, if they don't get bought first.

Built for a potential sale by former chief executive officer James Hackett, a renowned dealmaker, Anadarko may have outgrown all but a few possible suitors.

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Ukraine Standoff Escalates, Could South Stream be in Doubt?

When completed, the South Stream pipeline will run from Russia, underneath the Black Sea to Bulgaria, and on to Western Europe. It will carry Russian natural gas to Europe while bypassing Russia’s neighbor Ukraine. Russia clearly finds this pipeline to be strategically important – the Kremlin would be able to operate with greater freedom when using natural gas to bully Ukraine, and it wouldn’t have to worry about angering its large customer base in Western Europe.

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EPA Administrator Gina McCarthy: 'EPA listened' on carbon rules

Environmental Protection Agency Administrator Gina McCarthy on Monday attempted to assuage fears about a forthcoming carbon emissions rule for existing power plants, as she said it would contain flexibility for states.

"The only thing I really hope when this proposal goes out is that people look at it and say ' EPA listened,' " said McCarthy, speaking at a Washington event hosted by the Bipartisan Policy Center.

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Summer gasoline prices are expected to be slightly lower

By Adam Wilmoth, Energy Editor

Consumers likely will get a bit of a break this summer as gasoline prices are expected to average slightly less than last year, according to a report released Tuesday by the U.S. Energy Information Administration.

The government forecast said the national fuel price is likely to average about $3.57 during the heavy driving season of April through September, down about 3.5 cents from last summer.

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The Absurdity of US Natural Gas Exports

Quiz:1. How much natural gas is the United States currently extracting? (a) Barely enough to meet its own needs(b) Enough to allow lots of exports(c) Enough to allow a bit of exports(d) The United States is a natural gas importerAnswer: (d) The United States is a natural gas importer, and has been for many years. The EIA is forecasting that by 2017, we will finally be able to meet our own natural gas needs. Figure 1.

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Federal regulators aim to fix power markets by next winter

Federal energy regulators should aim to make a series of "small market fixes" by the onset of next winter to lessen the volatility seen in the price of electricity and natural gas during a series of extreme cold events in January and February, said Cheryl LaFleur, acting chairwoman of the Federal Energy Regulatory Commission.

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Fiscal break-even oil prices for major OPEC members

One of the key drivers of the oil markets is the price at which principal OPEC producers balance their government accounts – better known as fiscal break-even oil prices. By monitoring the fluctuations of these break-even prices in major oil-producing countries such as Saudi Arabia, Iran, Iraq, Kuwait and the UAE, we can assess potential changes in OPEC’s desired level of global oil prices.

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