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25 June 2010 5:37 PM | Tagged: oceaneering international inc
NEW ORLEANS They're like Superman, but underwater: able to withstand 5,000 pounds of subsea pressure, lift up to a ton, take 3D video images and transfer hydraulic power to other equipment.Submersible robots can do what no person ever could, and they're serving an important role in the fight to stop the oil gushing from the blown-out well in the Gulf of Mexico.A subcity of underwater robots is b

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25 June 2010 5:37 PM | Tagged: legal skirmish
WASHINGTON/VENICE, Louisiana The Obama administration lost a legal skirmish on Thursday when a judge refused to put on hold his decision lifting a ban on deepwater oil drilling imposed after the worst spill in U.S history.After striking down the moratorium on Tuesday, a federal judge in New Orleans rejected a request to allow the six-month ban to stand while the government appeals his decision

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25 June 2010 5:37 PM | Tagged: denbury resources inc
REUTERS Companies eager to capitalize on the U.S shale gas revolution are buying up firms which have deeds to land with access to reserves. Despite rumblings of environmental concerns, cheap and plentiful gas from shale is increasingly becoming a larger part of U.S domestic energy production. Below are major shale gas sector acquisitions since 2009: JUNE 2010: -- India's largest listed compa

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25 June 2010 4:48 PM | Tagged: massive oil spill
NEW ORLEANS More dirty evidence of the massive oil spill washed ashore along the Gulf Coast for residents who don't need any more reminders of their frustration over failed efforts to stop the crude gushing from a blown-out undersea well.In Florida, officials on Thursday closed a quarter-mile stretch of Pensacola Beach not far from the Alabama line when thick pools of oil washed up, the first ti

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25 June 2010 4:47 PM | Tagged: credit default swaps
LONDON/VENICE, Louisiana BP Plc said the relief well to plug the oil spill in the Gulf of Mexico is on track and now has the blown-out well in its sights.Concern over its ability to pay the rapidly escalating cost of the worst spill in U.S history continued to weigh on its shares, however, sending its London stock to a 14-year low and further hitting its credit profile.BP said in a statement o

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25 June 2010 4:47 PM | Tagged: reliance industries ltd ril
MUMBAI India's billionaire Ambani brothers have agreed a deal sharing the family's natural gas wealth following a vitriolic court battle, a company announcement said Friday.Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) have signed a gas supply master agreement that abides by a Supreme Court ruling last month, RIL announced, but gave no details of the accord.RIL, head

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25 June 2010 4:47 PM | Tagged: shandong province
BEIJING A huge bright green algae bloom is blanketing the sea off China's east coast and wind is driving it closer to land, an official said Friday.Cui Wenlin, an official with the State Oceanic Administration, said the slimy bloom is the biggest China has seen since a huge outbreak in 2008 threatened to disrupt sailing events during the Beijing Summer Olympics.Before the games, thousands of sol

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25 June 2010 4:47 PM | Tagged: xinhua news agency
BEIJING The death toll from storms that have pounded southern China for more than a week has climbed to 377, the government said Friday.The toll is expected to rise as 142 people are missing and more rain is expected, according to the China Meteorological Administration website.That threatens to hamper rescue efforts that have seen 4.4 million people evacuated from their homes.The death toll cli