NORTH AMERICA

Occidental Wont Drill Where Not Wanted in California - Bloomberg

Occidental Petroleum Corp. CEO Steve Chazen said the companys new California spin off will have plenty of places to drill that
wont be hindered by a growing anti-fracking movement in the state.

Buffetts BNSF Sees U.S. Tank-Car Rules Matching Canadas - Bloomberg
A proposal by railcar owners to eliminate old equipment over 7 years is too long, BNSF Chairman said. U.S. officials are
reviewing crude-by-rail safety proposals after Canada said it would require old cars to be retrofitted/retired over 3-year period.

Oxy reports decrease in US, worldwide 1Q production - Oil & Gas Journal
Oxy said the first-quarter results, which mainly reflect higher US earnings, resulted from higher US oil, NGL, and gas prices and
higher worldwide oil volumes, partially offset by lower international oil prices, higher US operating costs, and higher
depreciation, depletion, and amortization rates.

Encana Doubles Oil Output With $3.1 Billion Freeport Deal
Encana Corp. , the Canadian energy producer seeking to boost investor returns by shifting toward crude, is doubling oil output
with a $3.1 billion purchase of shale lands from Freeport-McMoRan Copper & Gold Inc. The agreement to buy 45,500 net acres
in Texass oil-rich Eagle Ford basin from Freeports energy unit gives Encana the opportunity to accelerate the rebalancing of
our portfolio to higher-priced crude, Encana Chief Executive Officer Doug Suttles said today on a conference call.

Drilling Pioneer Sees Fracking From Sea to Shining Sea - Bloomberg
We know where we can drill thousands and thousands and thousands of additional wells, Bowker said. I dont think we need
another gigantic breakthrough. I dont think thats necessary to keep the ball rolling in the shale plays.

LATIN AMERICA

Venezuela to Ration Electricity After Colombia Cuts Gas - Bloomberg
Venezuela, the country with the worlds largest oil reserves, will start rationing electricity in western Zulia state and water in
Caracas as a dry spell drains hydroelectric dams and reservoirs. Colombia stopped gas sales to Venezuela last week on drought
concerns, while maintenance at a thermal plant in Zulia further reduced supply, Electricity Minister said today on state TV.

EUROPE

Putin Seeking Chinese Investment With Bars on Mining - Bloomberg
Putin is turning to Asia as financing from the U.S. and EU tightens and capital outflows surge amid the worst standoff since the
fall of the Iron Curtain.

Tullett Buys Oil Broker PVM for $160 Million - Bloomberg
Tullett is making the acquisition as what it called persistently low volatility as well as increased regulation of its customers and
the U.S. over-the-counter derivatives market crimps income.

ASIA / PACIFIC

Iron Ore Slumps to Lowest Since 2012 as Surplus Deepens - Bloomberg
Ore with 62 percent content delivered to the Chinese port of Tianjin fell 1 percent to $102.70 a dry ton, the lowest level since
September 2012, according to data from The Steel Index Ltd.

AFRICA

Transcorp to Start Drilling Plans After Nigeria Oilfield Deal - Bloomberg
Transnational Corp. of Nigeria Plc, said it will drill wells on its prospecting lease after signing a production-sharing deal with the
state oil company. Transcorp paid $30 million for oil-prospecting lease 281, following a sale by the Nigerian government in 2007.

Angola May Miss 2015 Oil-Output Target, Wood Mackenzie Says - Bloomberg
Angola, Africas second-biggest oil producer, probably wont reach an output target of 2 million barrels a day next year because
new projects will be too late to boost declining flows, Wood Mackenzie Ltd. said.