Oil and Gas


  • *Troop carriers enter east Ukraine bearing Russian, separatist flags. LOS ANGELES, April 16- Brent crude rose close to $110 a barrel on Wednesday due to mounting tensions in Ukraine, while prices for U.S. oil fell after a report showed a huge build in stockpiles in the world's largest oil consumer.

  • Chart: Who's using all that nat gas in the US? Wednesday, 16 Apr 2014 | 1:21 PM ET
    A natural gas production platform.

    The U.S. consumed a whopping 26 trillion cubic feet of natural gas in 2013, but more interesting is who's using it—and who's not.

  • LONDON, April 16- When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit. Europe's oil refining guru, Marcel van Poecke, believes the move will be repeated one day. They say:' We can buy BP for upstream and Valero for downstream.

  • *Troop carriers enter east Ukraine bearing Russian, separatist flags. LONDON, April 16- Global oil prices rose close to $110 a barrel on Wednesday due to mounting tensions in Ukraine, but gave up some gains after an unexpectedly large build in crude stocks in the United States, the world's largest consumer of oil.

  • Why high oil prices are actually good for airlines Wednesday, 16 Apr 2014 | 11:01 AM ET

    NEW YORK— Airline executives frequently complain about fuel costs. "Traditionally, it was too easy to start an airline and too difficult to kill one off," says Jamie Baker, an airline analyst with JPMorgan Chase. Last year, they paid an average of $3.03 a gallon, according to the Bureau of Transportation Statistics.

  • ALGIERS, April 16- Cramped with his young wife and three infants in a shack in Algiers' Citi Hofra slum, Amin Kerchach could be forgiven for being angry at missing out on Algeria's gas wealth.

  • Crude inventories build to 10 million barrels     Wednesday, 16 Apr 2014 | 10:31 AM ET

    CNBC's Jackie DeAngelis reports crude oil inventories elevated due to geopolitical tensions.

  • SAO PAULO, April 16- With Brazil's economy struggling, a scandal at its state-run oil company and nearly three-quarters of voters saying they want change from their government, President Dilma Rousseff looks vulnerable in her bid for re-election this October.

  • UPDATE 6-Oil rises above $110 on mounting Ukraine tension Wednesday, 16 Apr 2014 | 10:25 AM ET

    *Troop carriers enter east Ukraine bearing Russian, separatist flags. LONDON, April 16- Global oil prices rose above $110 a barrel on Wednesday, shaking off slower economic growth in China, as tensions mounted in Ukraine.

  • Maine heating oil prices down Wednesday, 16 Apr 2014 | 10:15 AM ET

    AUGUSTA, Maine— A government survey says the average price of Maine heating oil has dropped 3 cents to $3.64 per gallon. The survey taken Monday found a range of $3.35 to $4.09. The survey also found that the average price of kerosene dropped 3 cents to $4.11 per gallon.

  • ISTANBUL, April 16- Turkey would consider allowing the South Stream pipeline, which will carry natural gas from Russia to Europe, to pass through Turkish territory if Moscow made such a request, Energy Minister Taner Yildiz said on Wednesday.

  • LONDON, April 16- United Nations economists who previously called for government intervention to tame volatile swings in commodity prices say banks and hedge funds have since reduced their influence to the lowest level since 2008..

  • UPDATE 4-Oil rises to $110 on rising Ukraine tension Wednesday, 16 Apr 2014 | 5:56 AM ET

    *Troop carriers enter east Ukraine bearing Russian, separatist flags. *China Q1 GDP growth at 18- month low of 7.4 percent. LONDON, April 16- The global oil price rose to $110 a barrel on Wednesday, shaking off slower economic growth figures in China, as tensions mounted in Ukraine.

  • Oil flat near $104 despite huge US stock build Wednesday, 16 Apr 2014 | 4:20 AM ET

    The price of oil approached $105 a barrel Wednesday as concerns grew over the crisis in Ukraine, which took military action against separatists in its east. Officials from the U.S., Russia, Ukraine and the European Union are set to meet in Geneva on Thursday for negotiations aimed at persuading Russia to back off in Ukraine following its annexation of Crimea.

  • KRAMATORSK, Ukraine, April 16- Ukrainian forces tightened their grip on the eastern town of Kramatorsk on Wednesday after securing control over an airfield from pro-Russian separatist militiamen, prompting Russian President Vladimir Putin to warn of the risk of civil war.

  • UPDATE 1-Brent edges lower towards $109, China data drags Wednesday, 16 Apr 2014 | 2:22 AM ET

    *China Q1 GDP growth at 18- month low of 7.4 percent. *China oil demand slips 0.6 pct in Jan-March. China, the world's second largest economy and oil consumer, said its gross domestic product grew 7.4 percent in the first quarter, the slowest pace in 18 months but slightly ahead of market expectations for a 7.3 percent rise.

  • Brent edges lower towards $109 after mixed China data Tuesday, 15 Apr 2014 | 11:42 PM ET

    *China Q1 GDP growth slows to 7.4 percent. *Ukraine sends troops east to fight separatist militia. SINGAPORE, April 16- Brent crude edged towards $109 a barrel on Wednesday, coming off a six-week high as mixed Chinese data and a gradual resumption of Libyan oil exports offset support from the Ukraine crisis.

  • TOKYO, April 16- U.S. crude prices edged up a touch in Asian trade on Wednesday, but remained below $104 a barrel as investors were hesitant ahead of the release of Chinese data that could show the extent of a slowdown in the world's second-biggest economy.

  • SYDNEY, April 16- BHP Billiton is lifting its iron ore production this year to capture more of the Chinese market for the steelmaking ingredient, amid strong competition from rivals in Australia and Brazil.

  • Jamaica grants license for natural gas project Tuesday, 15 Apr 2014 | 7:25 PM ET

    KINGSTON, Jamaica— A Hong Kong- based company has been granted a license for what would be a major new power project in Jamaica, the Caribbean island's energy minister announced Tuesday. Phillip Paulwell said Energy World International is to supply 381 megawatts of natural gas-fired generating capacity for Jamaica's power grid.

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