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Just one day after the Iraqi oil Ministry stepped forward to say that production and exports in Iraq's southern fields would be unaffected by fighting in Basra, a key oil pipeline has been blown up, spiking oil prices March 27.

Enel SpA CEO Fulvio Conti and Eni SpA CEO Paolo Scaroni said they will be meeting Russia's president Vladimir Putin in Moscow on April 2 to talk about their energy commitments and projects in Russia.

ONGC and the Hinduja Group are in discussions with Iran for the signing of a mid-April contract that would pump billions of dollars into Iran's South Pars gas field and the south Azadegan oil field.

Chevron Corp. said March 26 it expects to defeat Ecuador in litigation over who should pay for any eventual environmental cleanup in the Amazon region.

Estimated contract revenues that could be generated over the three-year or four-year (if elected) extension periods are approximately $586 million or $759 million, respectively.

Russia will double state spending on resource exploration to 2020 to $23 billion, in a move to boost the country's stagnating oil production.

Leaders of the Montgomery County Medical Society and the Montgomery Bar Association Thursday announced the launch of a mediation pilot program at Abington Memorial Hospital to avoid medical malpractice fillings.

Hillenbrand Industries will offer holders of its 4.5 percent senior notes due in 2009 $1,024.26 per $1,000 principal amount of notes tendered and accepted for purchase, plus accrued and unpaid interest, the company said Thursday. (HB)

The multi-billion barrels of reserves estimated to be held below the ice-white layers has blazoned the dreams of a modern-day oil rush.

Oil majors that hoped Mexico's business-friendly President Felipe Calderon would open the oil industry to outside investment could be facing a letdown.