LOS ANGELES, Dec 12- Chevron Corp raised the cost of its giant Gorgon liquefied natural gas project in Australia by $2 billion on Wednesday, the second increase in just over a year to take the total cost to $54 billion.» Read More
Dec 11- Chevron Corp, the second-largest U.S. oil company, said it plans to spend $39.8 billion on projects and exploration in 2014, about 5 percent below the expected 2013 spending.
WASHINGTON, Dec 11- John Podesta's return to the White House could dim prospects for the Keystone XL pipeline's approval, environmentalists said Wednesday, as the Democratic Party elder and Keystone critic crafts policies to curb climate change.
NEW YORK, Dec 11- Natural gas futures hit 7- month highs on Wednesday after cold weather forecasts bumped up expectations for heating demand in the United States, while U.S. crude prices tumbled on a report showing a build in gasoline inventories. Copper rose for a fourth straight session in London, hitting a one-month high together with zinc.
NEW YORK, Dec 11- Brent oil rose on supply concerns as traders remained skeptical that Libyan oil exports would resume while U.S. crude fell after government data showed large builds in refined oil products, suggesting sluggish oil demand.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after a budget deal in Washington removed some of the fiscal uncertainty hanging over the U.S. economy, boosting expectations the Federal Reserve may soon start reducing its stimulus.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after a budget deal in Washington removed some of the fiscal uncertainty hanging over the economy, boosting expectations the Federal Reserve may soon start reducing stimulus.
The cheapest gas is currently in Del City, Oklahoma at $2.67 today, reports CNBC's Sharon Epperson.
*Two new pipelines set to drain oil from Cushing. NEW YORK, Dec 11- Crude oil futures prices fell on both sides of the Atlantic as a U.S. inventory report showed a build in gasoline stocks and Libya said its ports could reopen by the weekend, raising the prospect of more crude in the world market.
CALGARY, Alberta, Dec 11- Encana Corp, Canada's largest natural gas producer, will boost liquids production by 30 percent in 2014 as it moves to execute a plan from its new chief executive to concentrate spending on regions rich in high-value gas liquids and oil.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after the U.S. Congress announced a provisional budget deal, which heightened expectations of a stimulus reduction by the Federal Reserve.
LONDON, Dec 11- Oil rose above $109 a barrel on Wednesday, erasing earlier losses after closely-watched U.S. inventory data showed the biggest draw on crude oil stocks this year.
TRIPOLI, Dec 11- Libya's government expects eastern tribes to reopen three oil ports this weekend as pledged but refuses to deal with an autonomy movement demanding a share of oil exports, Prime Minister Ali Zeidan said on Wednesday.
NEW YORK, Dec 11- U.S. gasoline futures fell to a session low after U.S. government data showed an inventory build much higher than analysts' expectations. U.S gasoline inventories rose by 6.7 million barrels, data from the U.S. Energy Information Administration showed on Wednesday, compared with the forecast in a Reuters poll for a 1.8 million barrel build.
MEXICO CITY, Dec 11- Mexico's Senate on Wednesday signed off on an energy bill that aims to lure private capital into the state-run oil and gas industry in the biggest shake-up since a 1938 nationalization, sending it to the lower house for debate and final approval.
CNBC's Sharon Epperson reports oil supplies dropped by 10.6 million barrels and gasoline supplies rose by 6.7 million barrels.
*Two new pipelines set to drain oil from Cushing. LONDON, Dec 11- Oil edged down below $109 a barrel on Wednesday, shrugging off forecasts of surging global demand from the west's energy watchdog, while the market awaited U.S. data that is expected to show a drop in crude stockpiles.
Dec 11- Encana Corp, Canada's largest natural gas producer, said it would boost liquids production by 30 percent in 2014 as part of new Chief Executive Doug Suttles' plan to focus spending on regions rich in gas liquids and oil.
*Sign of Saudi Arabia becoming self-sufficient in meeting gasoil needs. SINGAPORE, Dec 11- Exxon Mobil Corp has offered gasoil cargoes through a rare term tender from its joint-venture refinery in Saudi Arabia, in a further sign that the country is becoming more self-sufficient in meeting its gasoil needs.
*New refineries in China will start to have effect in 2014. LONDON, Dec 11- An increase in new oil refining capacity and a rise in production of fuel not processed at refineries will lead to more plant closures in 2014, the International Energy Agency said in its latest monthly report.