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Oil / Gas / Commodities

Shell profit warning, cuts spending

A Shell profit warning was followed by an announcement that the Anglo-Dutch company is cutting spending and streamlining operations. It is also suspending its Arctic drilling program. Shell Chief Executive Ben van Beurden, who started his…

Total to invest in UK shale gas

French oil & gas giant Total says it will invest approximately $50 million in the United Kingdom’s nascent shale sector, focusing on gas exploration in the East Midlands. Total is set to pay $1.6 million to acquire 40% shareholding of…

OPEC pumps less crude oil in November

November crude oil production among OPEC countries fell 230,000 barrels per day from October to 29.7 million b/d, the lowest total since mid-2011, according to a Platts survey1 of OPEC, analysts and oil industry officials. The survey…