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THE WALL STREET JOURNAL: Oil News Roundup: February 13, 2007 5:02 p.m.

Crude-oil futures rose to more than $59 a barrel, pushed higher by problems at U.S. oil refineries and after the International Energy Agency boosted its forecast for Chinese and global oil demand.

Here is Tuesday’s roundup of oil and energy news:

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CONFAB IN HOUSTON: Exxon Mobil and Shell executives, speaking at a seminar at the annual Cambridge Energy Research Associates conference in Houston, said educating the public about their industry is a high priority, the Houston Business Journal reports. At the weeklong conference that began Monday, dozens of the industry’s heaviest hitters were expected to discuss topics such as the tricky balance of supply and demand and initiatives to develop new sources of energy.

•Oil, Gas Production Costlier: The cost of producing oil and gas has risen about 53% the past two years, and the trend is expected to continue this year, according to a report released Monday.

•Venezuelan Oil Program Takes Heat: A discount oil program for the poor run by former U.S. Rep. Joseph P. Kennedy II and using mostly Venezuelan oil is being criticized by a Florida congressman who says Mr. Kennedy is relying on “a sworn enemy of the United States.”

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