WorldOil Hess drops on share sale following first loss in 13 years Hess Corp., the oil producer that reported its first annual loss in 13 years, fell the most in more than seven years, after announcing it’s selling $1.43 billion in stock. Iran sees oil exports to Europe at 54% of pre-sanctions level Iran will start sending 300,000 bpd of crude to Europe, 54% of the total it shipped before authorities on the continent put an embargo in place. Suncor wins over majority of Canadian Oil Sands shareholders Suncor Energy Ltd. said Canadian Oil Sands Ltd. shareholders holding more than two-thirds of the stock tendered their shares in a takeover that will make the biggest oil-sands producer also the largest owner of the Syncrude project in norther Alberta. Texas Alliance responds to Obama's proposed $10/bbl tax The following statement was released by George Rogers, chairman of the board of the Texas Alliance of Energy Producers, in response to President Obama's announcement yesterday, that he will propose a $10/bbl tax on the sale of crude oil produced in the U.S. Drillers pull 31 oil rigs as rig count reaches lowest level since ‘99 Drillers in the U.S. pulled 31 oil-directed rigs from the field this week as the oil price slump continues to hit the industry. China output seen cracking under pressure of price collapse Cheap crude is a double-edged sword for one of the world’s biggest markets. Schlumberger-Cameron merger receives European clearance HOUSTON -- The European Commission has cleared Schlumberger and Cameron's proposed merger without any conditions following a Phase 1 review. T. Boone Pickens cashes out on oil, awaits time to get back in Oil tycoon T. Boone Pickens, who made and lost fortunes targeting some of the largest U.S. explorers over the past 40 years, has cashed out as the worst crude market downturn in decades drags on. BHP awards Fugro contract for Pyrenees phase 3 installation project BHP Billiton Petroleum has awarded Fugro a contract for the Pyrenees phase 3 installation project. Siemens joins forces with oil and gas control system specialist EFC Group Siemens UK and Ireland has formed a strategic partnership with oil and gas control system specialist EFC Group, in a collaboration which promises to deliver innovative, cost-saving solutions for the industry. UK offshore union calls for emergency measures to save future North Sea production Unite, Britain’s biggest offshore oil trade union, has warned the UK government that billion-pound losses announced this week by oil industry supermajors could, without serious interventions, bring an end to meaningful production in the North Sea within years.