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Chevron signed a deal to sell natural gas to Tokyo Electric Power, giving the Japanese utility a timely boost as it seeks alternatives to nuclear power in the wake of the Fukushima crisis.
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Brazil's state-run oil company is spending more than $18 billion to build ships, a refinery and a chemicals factory on the Atlantic coast. For Petrobras, the projects are an effort to boost its "downstream" business. But some private investor say they are a waste of money.
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Shares in BP fell amid investor frustration at the company's growth strategy in the wake of the Gulf oil spill and disappointing second-quarter results.
The oil market is used to dealing with dramatic political spats. Yet it's hard to simply ignore the possible default and downgrade of the world's No. 1 oil consumer.
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South Korea said it will raise electricity charges by 4.9% on average to help the nation's electricity provider, Kepco, finance its fuel costs, but the increase will complicate the struggle to control high inflation.
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