Oil

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Northern Petroleum gets Italian licenses

Northern Petroleum PLC is reviewing potential for redevelopment of two suspended fields in Italy in a package of onshore licenses it is acquiring from Rockhopper Exploration PLC. Both companies are based in London.


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Caerus to buy Encana’s Piceance assets for $735 million

Caerus Oil & Gas LLC,
Denver, has agreed to acquire gas assets in the Piceance basin of
northwestern Colorado from Encana Oil & Gas (USA) Inc., a wholly
owned subsidiary of Calgary-based Encana Corp., for $735 million in cash.


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Proctor joins Alpha Petroleum as CFO

Charles Proctor has joined Alpha Petroleum Resources Ltd., Guildford, UK, a privately owned operator focusing on the UK North Sea, as chief financial officer.



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MARKET WATCH: NYMEX crude settles for second day under $46/bbl

The US benchmark crude oil futures contracts for July and August
delivery edged down less than 10¢ on the New York market on June 8,
settling under $46/bbl for a second consecutive day but stabilizing
after oil prices dropped more than $2/bbl on June 7.


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U.N. cap on North Korean coal exports could decrease North Korean export earnings

n 2016, the almost $1.2 billion value of North Korea’s coal exports accounted for about 40% of their total export revenue. A cap imposed by the United Nations (U.N.) on imports of coal from North Korea would limit North Korea’s coal export earnings to about US $400 million in 2017, about one-third of the previous five-year average.


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PPR finds momentum in southern Alberta horizontal Wheatland play

Prairie Provident Resources Inc. (PPR) will continue drilling in
mid-July in the wake of successful 4-well program in southern Alberta at
its Wheatland prospect. The operator drilled wells Wayne-1, 2, 3, and
Entice-1 during this year’s first 3 months, deferring completions until
late April and early May.