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Oil and gas firm APA Corp said on Tuesday it curtailed production by about 91 million cubic feet per day of U.S. natural gas and 7,600 barrels per day of U.S. natural gas liquids in the fourth quarter in response to weak prices. It expects fourth-quarter average realized natural gas prices in the U.S. to be 15 cents per thousand cubic feet (Mcf) and $4.30 per Mcf globally. APA’s fourth-quarter transaction, reorganization and separation costs rose to $36 million, up from $18 million in the [Read more]

Venezuela's interim president Delcy Rodriguez said on Tuesday that the country has received $300 million from oil sales, the first proceeds from U.S. President Donald Trump's announced 50-million-barrel oil supply deal with Caracas, following the capture of President Nicolas Maduro earlier this month. Trump said separately on Tuesday his country had taken the Reuters reported last week that four Venezuelan banks had been notified by the country's government that they would split $300 million of [Read more]

U.S. President Donald Trump said on Tuesday that his administration had taken 50 million barrels of oil out of Venezuela, and was selling some of it in the open market. "We've taken 50 million barrels of oil out of Venezuela in the first four days. We've got millions of barrels of oil left. We're selling it in the open market. We're bringing down oil prices," Trump told reporters in a briefing at the White House. (Reporting by Trevor Hunnicutt; Writing by Christian Martinez) [Read more]

Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. The asset manager has begun early talks with investment banks about a possible listing of the company as soon as the first quarter, the report said. The Houston-based company is likely to draw interest from major Gulf of Mexico producers, the people said. Beacon [Read more]