Energy Update
March 4 (Reuters) - U.S. energy firms this week cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as Exxon Mobil Corp and other producers slashed their drilling rig count to focus on uncompleted wells amid low oil prices. Drillers removed eight oil rigs in the week ended March 4, bringing the total rig count down to 392, oil services company Baker Hughes Inc said in its closely followed report.
WILMINGTON, Del, March 4 (Reuters) - Small U.S. oil-and-gas producer Quicksilver Resources Inc began making its case in court on Friday for using its bankruptcy to reject a pipeline contract, a move that trade groups warned could undermine the $500 billion midstream industry.
NEW YORK/LONDON, March 4 (Reuters) - The arrest of former Brazilian president Luiz Inacio Lula da Silva fueled a massive market rally but once the euphoria fades, investors will still face concerns about political chaos and an economy mired in a deep recession.
March 4 (Reuters) - Former Brazilian President Luiz Inacio Lula da Silva was briefly detained for questioning on Friday in a two-year-long probe of a vast corruption scheme involving state oil company Petroleo Brasileiro SA, or Petrobras , a political crisis that threatens his successor, President Dilma Rousseff.
SunEdison Inc. shares jumped after the solar developer settled a lawsuit for $28.5 million, a fifth of the damages sought in the case that stemmed from a failed acquisition of Latin America Power Holdings BV.
WASHINGTON, March 4 (Reuters) - The U.S. Justice Department has filed a motion to dismiss a criminal indictment against former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, who died in a car crash on Wednesday, one day after he was charged with breaking antitrust laws.
The Asian Development Bank (ADB) said on Feb. 29 that it will provide a $225 million bond to the Philippine firm AboitizPower Corp. for the Tiwi-MakBan geothermal energy facilities.
BRUSSELS, March 4 (Reuters) - Germany, France and Britain pressed the European Union for more ambitious greenhouse gas targets at a meeting of environment ministers on Friday, clashing with the EU executive and several eastern and central European states.
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