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An increasing number of energy companies are likely to file for Chapter 11, if oil prices stay low, capital markets dry up and the banks cut back on lending.
Royal Dutch Shell plc (RDS.A) was cleared by the EU regulator for its proposed purchase of BG Group plc, while ConocoPhillips (COP) said it will reduce 10% of its global workforce.
Petrobras (PBR) has terminated its contract with Vantage Drilling (VTG) for the offshore driller's deep water drill ship Titanium Explorer.