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Top News & Analysis Houston

  • HOUSTON, May 3- The U.S. Chemical Safety Board has concluded that a 2015 explosion at a Torrance, California, refinery then owned by ExxonMobil Corp could have been prevented, the agency concluded in a report issued on Wednesday. "This explosion and near miss should not have happened," said CSB Chair Vanessa Allen Sutherland in a statement. The Torrance refinery...

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. WTI tumbled early to $47.30, the lowest since March 27, following data from the U.S. Energy Information Administration showing weekly crude stocks fell by 930,000 barrels to 527.8 million.

  • HOUSTON, May 3- The U.S. Chemical Safety Board has concluded a 2015 explosion at a Torrance, California, refinery then owned by ExxonMobil Corp was preventable, according to a report issued on Wednesday. "Weaknesses in the ExxonMobil Torrance refinery's process safety management program" led to the explosion, according to the federal watchdog's probe of the...

  • *Russia says has cut production by more than 300,000 bpd. *OPEC compliance falls to 90 percent in April- survey. "U.S. domestic production rose again, and continues its steady climb," said John Kilduff, partner at energy hedge fund Again Capital in New York.

  • May 3- U.S. crude stockpiles fell less than expected last week, while gasoline inventories grew as demand remained weak, the Energy Information Administration said on Wednesday, keeping concerns about global supply on a simmer. U.S. crude futures was down 16 cents at $47.50 a barrel by 10:50 a.m. EDT, while Brent fell 10 cents to $50.36 a barrel.

  • HOUSTON/ SAO PAULO, May 2- Oil's lackluster price performance this year is unlikely to hamper Petróleo Brasileiro SA's plan to divest up to $21 billion worth of assets or find partners for exploration and refining by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. Speaking at the Offshore Technology Conference in Houston, Parente...

  • *Adjusted loss of $0.02 v/s cons of $0.01. Don Wallette Jr., chief financial officer, said the latest quarter included a $200 million loss from a currency hedge tied to the British pound and a benefit of about $100 million from a tax loss carry forward. The Houston- based company said its total realized price was $36.18 per barrel of oil equivalent in the first quarter,...

  • ConocoPhillips's results also reflected a slow but steady improvement across the industry as crude prices stabilize after a two-year rout, as an OPEC- led production cut and a rebound in demand slowly erode a global glut. ConocoPhillips' production, excluding Libya, inched up 2 percent to 1.584 million barrels of oil equivalent per day in the latest reported...

  • ConocoPhillips's results also reflected a slow but steady improvement across the industry as crude prices stabilize after a two-year rout, as an OPEC- led production cut and a rebound in demand slowly erode a global glut. ConocoPhillips' production, excluding Libya, inched up 2 percent to 1,584 million barrels of oil equivalent per day in the latest reported...

  • Community Health has a debt load of $14.69 billion and the company had said in February it would divest 25 hospitals. Net loss attributable to Tenet's shareholders narrowed to $53 million, or 53 cents per share, in the first quarter ended March 31, from $59 million, or 60 cents per share, a year earlier. Excluding items, Community Health earned 8 cents per share from...

  • HOUSTON, May 1- The head of BP's Gulf of Mexico region said on Monday the oil company's use of a new seismic imaging technology has identified 1 billion additional barrels of "possible resources" at four of its U.S. offshore fields. Richard Morrison, the BP region president, said at the Offshore Technology Conference in Houston that its "full waveform inversion"...

  • WASHINGTON, April 28- Tiffany Cartagena said she was eating with her mixed-race girlfriend at a restaurant in Ohio last month when she heard nearby diners remark about the "monkey" at the next table. As Trump nears his 100th day in the White House after a campaign punctuated by his inflammatory comments about Muslims and immigrants, a number of Americans say U.S....

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK, April 26- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May. Swiss-based Mercuria Energy Trading S.A. loaded more than 600,000 barrels of...

  • NEW YORK/ HOUSTON, April 26- The Trump administration's proposal to slash tax rates on so-called pass-through businesses would deliver a windfall to investors in master limited partnerships and could offer a much-needed lift to this niche segment of the energy market. "If the average rate is in the 30 s, reducing it to 15 percent would be tremendously attractive,"...

  • NEW YORK, April 26- Mercuria Energy Trading S.A. has shipped the first ever reported export of Bakken crude oil to Asia, according to a shipping document seen by Reuters on Wednesday, the latest shift in global oil flows as the United States seeks to draw down its bloated inventories. The Swiss-based energy trader loaded more than 600,000 barrels of Bakken crude, as...

  • The company's after-tax cash flow increases by $70 million for every $1 per barrel increase in oil prices, he said. Shares of the New York- based company rose 4.4 percent to $50.78 in morning trading. Excluding output from Libya, Hess produced 307,000 barrels of oil equivalent per day in the first quarter ended March 31, lower than 350,000 boepd a year ago.

  • DUBAI, April 25- Emirates signaled on Tuesday that its U.S. expansion plans were on hold until demand recovers from a slowdown that the airline has blamed on President Donald Trump's travel restrictions. The Dubai- based carrier announced last week it would reduce flights to five U.S. cities from May following a "significant deterioration" in demand.

  • The oilfield services provider on Tuesday reported a bigger-than-expected loss and said growth in its well construction business onshore North America was more than offset by increased competition for pressure pumping services and reduced customer spending in the Gulf of Mexico. The Houston, Texas- based company, which is being acquired by General...