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Oil mixed on strong dollar, rising inventories

Source: 
Bloomberg

Rising inventories and a dollar gaining on the expectations of an interest rate hike pressured oil prices Friday. West Texas Intermediate crude for October delivery fell 66 cents to $92.41 on the Nymex but ended the week slightly higher, while in London November Brent settled up 69 cents to $98.39, an increase of 1.3 percent on the week, Bloomberg reports.

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Oil train disaster would get Keystone unstuck: Merrifield

Source: 
The Globe and Mail

Rob Merrifield, the man who’ll be Alberta's next envoy in Washington, told The Globe and Mail in an interview that an oil train disaster similar to the destructive derailment in Lac-Megantic would finally force U.S. officials into approving the Keystone XL pipeline.

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Six years on, Keystone XL stalled but TransCanada stock higher

Source: 
Bloomberg Businessweek

Shares in TransCanada, the company behind Keystone XL, have increased 70 percent in the six years the project has been stalled – that’s one of the points Bloomberg Businessweek notes as it looks back over the history of the proposed pipeline.

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International bidders lining up for Dresser-Rand

Source: 
The Wall Street Journal

German giant Siemens AG is likely to edge out rival bidder Sulzer of Switzerland to take over Texas oil equipment-maker Dresser-Rand, as it’s preparing a cash offer topping $6 billion, people familiar with the situation told The Wall Street Journal.

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UK oil focus returns to North Sea woes after Scottish ‘no’

Source: 
Platts

The Scottish “no” vote on independence – which was welcomed by Royal Dutch Shell's CEO – lifts the burden of uncertainty from oil companies, leaving them clear to focus on how to get more out of declining North Sea oilfields, Platts reports.

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Exxon to wind down Russian drilling project

NEW YORK (AP) — Exxon Mobil said Friday that it will wind down a drilling project in Russia in compliance with U.S. sanctions, but said it received a license to keep working beyond the sanctions' deadline in order to complete the work.

U.S. sanctions against Russia over its involvement in the Ukraine require the removal of U.S. workers on projects in the Russian Arctic and other select locations by September 26. 

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Oil steady on signs of interest rate hike

Source: 
Bloomberg

U.S. oil prices eased off again on speculation over future action by the Federal Reserve to increase interest rates. West Texas Intermediate crude for October delivery was 21 cents lower to $92.86 a barrel in electronic trading on the Nymex, while in London November Brent gained 1 cent to $97.71, Bloomberg reports.

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Exxon-Rosneft Arctic drilling likely to stop: Russian minister

Source: 
Reuters

Western sanctions over the Ukraine crisis will likely put the brakes on a joint drilling project between Exxon Mobile and Rosneft in the Kara Sea, Russia’s natural resources minister said Friday, Reuters reports.

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Another asset swap for Exxon, Linn

Source: 
The Wall Street Journal

Exxon subsidiary XTO Energy will pick up 17,800 net acres in the Permian Basin in Texas and Linn Energy will get interest in about 500 net acres near Bakersfield, Calif., under an asset swap announced by the firms Thursday, The Wall Street Journal reports.

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Continental hits more oil in Oklahoma

Source: 
The Financial Times

Bakken Shale giant Continental – with Jack Stark newly promoted as president and COO -- told analysts Thursday that the South Central Oklahoma Oil Play, or SCOOP, could hold as much as 3.6 billion barrels of oil and gas equivalent, The Financial Times reports.

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