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Giesler joins Miller as chief executive

Carl F. Giesler Jr. has joined Miller Energy Resources Inc., Knoxville, Tenn., as chief executive officer, replacing Scott M. Boruff, who is now executive chairman.

Miller seeks Buccaneer’s Alaskan assets

Miller Energy Resources Inc., Knoxville, Tenn., has signed a nonbinding letter of intent to buy Alaskan operating assets of Buccaneer Energy for $40-50 million.

AAPG ICE: ExxonMobil outlines international approach to unconventional development

Global energy demand is expected to increase 35% to 2040, translating to 120 billion boe/year, or nearly 350 million boe/d, stated Rocky Becker, vice-president, Europe-Caspian-Russia at ExxonMobil Exploration Co.

MARKET WATCH: Oil futures prices down on more US sanctions against Russia

Oil futures prices dropped on the New York and London markets on Sept. 12, ending a volatile week in which traders reacted to reduced oil demand forecasts from three groups and to another round of US sanctions against Russia.

August jobs report shows gains as US slowly recovers

The US unemployment rate fell by a tenth of a percentage point from July to August to 6.1%, level with June and down from 7.2% in August 2013. But what does that mean?

US firms' reported earnings dip in second quarter

Second-quarter profits for a group of 53 US-based producers and refiners totaled $25.45 billion, which was down 8.1% from the same period in 2013.

Federal judge finds BP E&P negligent in Macondo crude oil spill

A nearly 5 million bbl crude oil spill following the 2010 Macondo deepwater well blowout in the Gulf of Mexico was the result of operator BP Exploration & Production Inc.'s gross negligence and willful misconduct, a federal district court judge ruled in New Orleans.

Statoil expanding project that captures flare gas in North Dakota

Statoil ASA says a pilot project that captures flare gas in North Dakota is expanding to power six drilling rigs and a hydraulic fracturing fleet.

Roc Oil approves Fosun takeover bid

After the failure of the proposed Roc Oil-Horizon Oil merger, the board of Roc Oil Ltd., Sydney, has unanimously voted to accept the most recent $474 million (Aus.) all-cash takeover offer by Chinese combine Fosun International Group.

EIA: Natural gas storage deficit to 5-year average is narrowing

Natural gas storage injections continued to outpace the 5-year (2009-13) average, with inventories as of Sept. 5 at 2.80 tcf, according to data from the Weekly Natural Gas Storage Report (WNGSR) by the US Energy Information Administration.

MARKET WATCH: Oil prices rebound briefly pending more sanctions against Russia

Oil prices rebounded by more than $1/bbl on the New York market on Sept. 11 in a second consecutive week for roller-coaster energy prices as traders reacted to various revised forecasts this week calling for slower 2014-15 global oil demand growth than previously anticipated.

Wintershall to acquire interests off Norway

Wintershall has agreed to acquire a package of production, development, and pipeline interests offshore Norway from Statoil for $1.25 billion.

Linn completes acquisition of Pioneer’s Hugoton assets

Linn Energy LLC, Houston, has closed on its purchase of Hugoton field assets in Kansas from Pioneer Natural Resources Co., Dallas, for cash proceeds of $340 million.

Keep partisan politics out of biofuel mandates, API tells White House

The White House should stay away from partisan politics as its Office of Management and Budget reviews the US Environmental Protection Agency proposed 2014 biofuel quotas under the Renewable Fuels Standard, an American Petroleum Institute official said.

Eni acquisition of Nigerian stake probed

Eni said it is cooperating with authorities in Milan investigating its 2011 acquisition of an interest in a block offshore Nigeria from a Shell subsidiary.

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