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ExxonMobil cleans up after Arkansas oil spill

Emergency crews sent by US oil giant ExxonMobil worked Sunday to contain several thousand gallons of crude oil that spilled from a ruptured company pipeline in central Arkansas, the corporation said. The rupture occurred Friday afternoon in a section of the Pegasus pipeline near the town of Mayflower, which has a population of about 1,700 people and is located north of Little Rock.

Exxon cleans up Arkansas oil spill; Keystone plan assailed

By Kristen Hays and Matthew Robinson (Reuters) - Exxon Mobil on Sunday continued cleanup of a pipeline spill that spewed thousands of barrels of heavy Canadian crude in Arkansas as opponents of oil sands development latched on to the incident to attack plans to build the Keystone XL line. Exxon spokesman Alan Jeffers said on Sunday that crews had yet to excavate the area around the pipeline breach, a needed step before the company can estimate how long repairs will take and when the line might restart.

BP Ventures expanding beyond alternative energy

By Sarah McBride SAN FRANCISCO (Reuters) - BP Ventures will continue to expand beyond alternative energy to more mainstream energy investments, said Issam Dairanieh, BP Ventures' director of global ventures. The venture arm of the oil and gas giant BP <BP.L> made its first refining and processing investment two years ago and its first exploration and production investment last year, Dairanieh told Reuters in a telephone interview.

Exclusive - BP's mighty trading unit under scrutiny as earnings drop

By Dmitry Zhdannikov LONDON (Reuters) - BP's oil trading division, the alma mater for a generation of the world's top traders and a former cash-generating machine, is under greater scrutiny after becoming a weak link for the oil major. The company says the unit, which once generated a tenth of profits, was responsible for its failure to fully deliver on a pledge to improve performance at its refining division.

RPT-BP lost again in Arctic deal to ExxonMobil -sources

By Melissa Akin MOSCOW, March 4 (Reuters) - BP, which lost its first deal to drill for oil in Russia's Arctic to ExxonMobil, tried to negotiate a new deal with Russian state oil company Rosneft and was again beaten to the punch by its U.S. rival. ExxonMobil won access to the Arctic Laptev Sea fields, where Rosneft's prospective reserves amount to 36 billion barrels of oil equivalent, under a deal last month, but three industry sources said BP had also been in talks with Rosneft to explore several blocks there.

BP lost again in Arctic deal to ExxonMobil -sources

By Melissa Akin MOSCOW, March 4 (Reuters) - BP, which lost its first deal to drill for oil in Russia's Arctic to ExxonMobil, tried to negotiate a new deal with Russian state oil company Rosneft and was again beaten to the punch by its U.S. rival. ExxonMobil won access to the Arctic Laptev Sea fields, where Rosneft's prospective reserves amount to 36 billion barrels of oil equivalent, under a deal last month, but three industry sources said BP had also been in talks with Rosneft to explore several blocks there.

Ireland's prospects for producing oil to become clear in 2013

* Two tests will be key to determining industry interest * Majors now looking at offshore Ireland * One large find could make Ireland self-sufficient in oil By Lorraine Turner and Conor Humphries DUBLIN, Feb 27 (Reuters) - Ireland's prospects for cashing in on its offshore oil and gas reserves will become clear in 2013 as a series of tests determine whether a recent flurry of interest can be converted into commercial production.

BP claims U.S. accepts its "collected" spill barrels

LONDON, Feb 19 (Reuters) - BP said the U.S. Department of Justice has backed its claim that oil it recovered at the 2010 spill site should be excluded from certain penalties it could face, potentially cutting its final fine by as much as $3.5 billion. Just days before its civil trial is due to start on Feb. 25 in New Orleans, the British oil company repeated its assertion that some 810,000 barrels of oil it recovered directly from the leaking Macondo well should not count when it comes to fines that could be levied under the U.S. Clean Water Act.

ExxonMobil expands Arctic presence in Rosneft deal

Rosneft signed Wednesday an agreement with ExxonMobil giving the US super-major access to seven Arctic fields in exchange for the Russian firm's possible participation in a lucrative Alaskan gas project. The deal -- signed by Rosneft chief executive Igor Sechin and ExxonMobil Exploration head Stephen Greenlee in the presence of President Vladimir Putin -- extends a strategic alliance the two companies forged in 2011 focusing on Russia's Arctic field development.

France's Total reports strong profits in 2012

French oil giant Total reported on Wednesday an 8.0-percent rise in net profit to 12.4 billion euros ($16.7 billion) in 2012, excluding the change in value of oil in stock. This is the measure, known as the current-cost accounting basis, which is most closely watched in the oil sector. Net profit on an overall basis, the historic-cost method, fell by 13.0 percent to 10.7 billion euros. The statement said that a fall in production had been counter-balanced by high oil prices and a temporary rally of margins for refiners in Europe.
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