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UPDATE 2-U.S. on verge of lifting 40-year oil export ban

WASHINGTON, Dec 16 (Reuters) - The United States appears on the brink of ending a four-decade ban on most exports of crude oil, which would end a years-long fight brought about by a boom in domestic shale output that contributed to a supply glut and depressed prices.

Saudi Aramco names three new senior vice presidents

KHOBAR, Saudi Arabia, Dec 16 (Reuters) - Saudi Aramco has named three senior vice presidents including Mohammed al-Qahtani as head of upstream operations, the state-owned firm said on Wednesday.

UPDATE 1-Gibraltar court awards Chevron $28 mln in damages

Dec 16 (Reuters) - Chevron Corp won $28 million in damages after Gibraltar's highest court ruled against a company that was set up to receive and distribute funds resulting from a judgment against Chevron in Ecuador.

Canada's Calfrac to issue equity to meet required debt ratio

TORONTO, Dec 16 (Reuters) - Canadian oilfield services provider Calfrac Well Services Ltd said on Wednesday it is raising C$27.5 million via an equity issue aimed at shoring up a key debt ratio, underscoring the level of pressure on energy sector companies hit by slumping oil and gas prices.

Mexico to tender licenses to exploit 10 deep-water Gulf areas

MEXICO CITY, Dec 16 (Reuters) - Mexico will tender licenses to explore and drill 10 deep-water areas in the Gulf of Mexico as part of a landmark opening of its long-closed oil sector, the country's energy regulator said on Wednesday.

Gibraltar court awards Chevron $28 mln in damages

Dec 16 (Reuters) - Chevron Corp won $28 million in damages after Gibraltar's highest court ruled against a company that was set up to receive and distribute funds resulting from a judgment against Chevron in Ecuador.

European Parliament set to hold inquiry into VW emissions scandal

BRUSSELS, Dec 16 (Reuters) - The European Parliament plans to set up a committee to investigate Volkswagen's emissions scandal and determine whether regulatory oversight of the car industry was too lax.

Making Sense of the Tax Credit Extensions for Wind, Solar (and Bioenergy, Too)

Tuesday December 15 was a good day for U.S. renewable energy companies. In a landmark deal that could mark the first time the Senate and House Democrats and Republicans under Barak Obama were able to compromise on anything at all, the two parties released an omnibus spending bill that lifts the 40-year U.S. oil export ban and gives a five-year extension of renewable energy tax credits for wind and solar.

UPDATE 1-Motorists hit the roads in record volumes in October - U.S. DOT

NEW YORK, Dec 16 (Reuters) - Motorists logged 273.5 billion miles on U.S. roads in October, a 2.4 percent increase over last year and the most ever for the month, according to data released on Wednesday by the U.S.

Hydro dams best for massive power storage - Iberdrola's Galan

PARIS, Dec 16 (Reuters) - Pumping water to higher levels when power is cheap and releasing it at times of peak demand is still the best option for massive energy storage and seaside cliffs have potential for that, Spanish utility Iberdrola's chief executive Ignacio Galan said.

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