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JAKARTA, June 20- Indonesia will carry out a big increase in fuel prices on Saturday, settling months of agonising over the politically divisive issue that was damaging confidence in Southeast Asia's biggest economy and sapping the state's finances.
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OKLAHOMA CITY-- SandRidge Energy Inc. CEO, Chairman and founder, Tom Ward, has been dismissed after an investigation over a controversial deal but will receive a multimillion severance package. The oil and gas exploration company has been under shareholder pressure to replace Ward.
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June 19- SandRidge Energy Inc's board of directors removed the energy company's founder and chief executive, Tom Ward, on Wednesday, after a months-long struggle with activist investors who accused him of strategic mistakes and self-dealing at the expense of shareholders.
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June 19- The board of directors of SandRidge Energy Inc on Wednesday said it removed Tom Ward as chief executive, and named its president, James Bennett, to replace him, citing a need for new leadership at the U.S. oil and gas company, which has under fire from investors.
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CNBC's Melissa Lee and the Fast Money traders discuss the day's top trades and the stocks they'll be watching tomorrow.
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Federal Reserve Chairman Ben Bernanke said the Fed might reduce the amount of money it pumps into the economy later this year, while higher crude stocks in the United States also hurt prices.
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CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Following the Fed's statement, oil and gold both sold off, as Bernanke struck a more upbeat tone on the economy, she says.
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NEW YORK, June 19- Former NATO Supreme Allied Commander Wesley Clark has joined Blackstone Group LP as a senior adviser on energy investments.
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OSLO, June 19- Norway's parliament voted on Wednesday to open an offshore Arctic zone bordering Russia to oil and gas exploration, paving the way for the area to be included in the next licensing round.
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*Washington fears for key EU support in isolating Iran. *Iran hard hit by sanctions but finds way to elude them.
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*U.S. East Coast gasoline stocks lower. NEW YORK, June 19- Crude oil prices on both sides of the Atlantic were weaker in choppy trading on Wednesday after a U.S. government report showed an unexpected build up in crude oil stocks.
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*Washington fears for key EU support in isolating Iran. *Iran hard hit by sanctions but finds way to elude them.
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PARIS, June 19- From their roots in spying and stealth military attacks, unmanned planes are spreading into the civilian sphere and could soon be put to work in tasks as diverse as inspecting oil pipelines, catching rhino poachers and even flying travellers.
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SAO PAULO, June 19- Petróleo Brasileiro SA, Brazil's state-run oil company, and China Petroleum and Chemical Corp are in talks to build a $20 billion, 300,000- barrels-a-day refinery in the South American country, according to a securities filing on Wednesday.
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LONDON, June 19- Brent oil rose on Wednesday supported by fears that violence in Syria could spread elsewhere in the region, disrupting supply, while investors looked to a meeting of the Federal Reserve later in the day for clues on the outlook for continuing stimulus.
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CNBC's Sharon Epperson has the latest numbers on oil and gas supplies from the EIA Inventory Report.
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TORONTO, June 19- Imperial Oil Ltd said on Wednesday that it was unable to find a buyer for its refinery in Dartmouth, Nova Scotia, and will instead convert the facility into a terminal operation. Canada's largest oil refiner will take a non-cash charge of C $260 million to C $280 million in the second quarter related to closing the refinery.
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*Natural gas exports to Turkey seen by 2016. LONDON, June 19- Iraqi Kurdistan will start a new oil pipeline to Turkey within months, its energy minister said, increasing the autonomous region's control over its resources in a dispute with Baghdad and raising its exports to world markets.
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Violence in the Middle East and lower oil stockpiles in the United States supported prices. Brent futures for August delivery were up 50 cents to $106.52 a barrel by 0940 GMT and set for their highest close since April 4. U.S. crude for July delivery rose to a nine-month high of $99.01, before easing to $98.91, still up 47 cents.
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*Syria peace conference unlikely before Aug- source. SINGAPORE, June 19- Brent crude futures held above $106 a barrel on Wednesday as investors looked to a Federal Reserve meeting for clues on the outlook for a U.S. stimulus programme that has underpinned commodity prices. Brent futures for August delivery had gained 13 cents to $106.15 a barrel by 0522 GMT.
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*Syria peace conference unlikely before Aug- source. SINGAPORE, June 19- Brent crude futures held above $106 a barrel on Wednesday as investors looked to a Federal Reserve meeting for clues on the outlook for a U.S. stimulus programme that has underpinned commodity prices. Brent futures for August delivery had edged down 1 cent to $106.01 a barrel by 0310 GMT.
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