Britain came within six hours of running out of natural gas in March, highlighting the risk of supply shortages amid declining domestic production, the FT reports.» Read More
Britain came within six hours of running out of natural gas in March, highlighting the risk of supply shortages amid declining domestic production, the FT reports.
May 21- Halliburton Co, the world's second-largest oilfield services company, said on Tuesday that Mexican state oil company Pemex was delaying any significant activity at its Burgos and Chicontepec projects until next year.
KUWAIT, May 21- Around 80 percent of workers at Kuwait's main, state-run oil services company are on strike calling for better pay, a union official said on Tuesday, the latest sign of wage pressures in the Gulf Arab country.
MELBOURNE, May 21- A spate of profit warnings from Australian mining services firms suggests the country's "once-in-a-century" resources spending boom may have peaked sooner than companies, economists and policymakers had expected.
*European Commission has raided pricing agency Platts. The mid-sized trading company, which deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday.
SINGAPORE, May 15- U.S. crude futures held steady above $94 a barrel in early Asian trade on Wednesday, snapping the longest losing streak since early-December on rising supplies amid slowing demand growth. U.S. oil gained 9 cents to $94.30 a barrel by 0038 GMT, after ending 96 cents down.
Among the stock activity stories for Tuesday, May 14, from AP Business News:. _ Shares of Velti PLC fell after the mobile marketing company posted a smaller-than-expected quarterly loss, but issued a weak revenue prediction for the current period.
NEW YORK-- WPX Energy Inc. shares continued to rise Tuesday, hitting their highest price in more than a year, after regulators ruled that the natural gas driller wasn't responsible for water contamination in Pennsylvania.
NEW YORK, May 9- Shipping crude oil by rail has alleviated capacity constraints in the oil-rich Bakken shale in North Dakota, the chairman and chief executive of Continental Resources said on Thursday.
WASHINGTON, May 7- The Obama administration's second attempt at writing regulations for hydraulic fracturing on public lands is not intended to appease either environmentalists or oil and gas drillers, Interior Secretary Sally Jewell said on Tuesday.
CALGARY, Alberta, May 7- Enbridge Inc, Canada's largest pipeline operator, said on Tuesday it will spend C $300 million on infrastructure to handle expanded production from the Surmont oil sands project owned by ConocoPhillips and French oil major Total SA.
After blowing through minor support at the 20- day and 40- day moving averages over the last week, chart traders said Tuesday's weak close broke support in the $3.94 per mmBtu area, the 38.2 percent Fibonacci retracement of the move up from the February low of $3.125 to last week's high of $4.444.
NEW YORK, May 7- U.S. natural gas futures lost ground on Tuesday for a second straight day, with moderating weather forecasts and tapering demand driving the front-month contract to a test of key technical support.
SINGAPORE, May 7- Singapore LNG started commercial operations of its S $1.7 billion liquefied natural gas terminal, receiving its first cargo of gas super chilled into liquid for shipping, the company said in a statement on Tuesday. BG Group Plc supplied the first cargo. The Britain- based company has a contract to supply 3 million tpy of LNG to the terminal.
By John Kemp LONDON, May 7- No one has ever seen an oil field. Typically buried thousands of feet below the surface, oil fields are like a sponge saturated with a mixture of oil, water and gas, rather than the underground cavern most people imagine when they think about oil and gas reservoirs.
MIDF Research has raised its target price for oil and gas service provider Dayang Enterprise Holdings Bhd to 4.41 ringgit from 3.95 ringgit after the company secured a 313.6 million ringgit contract from Murphy Sarawak.
May 6- Blueknight Energy Partners LP, a midstream oil company controlled by global oil trader Vitol SA, said it will form a joint venture with Silverado Pipeline LLC to develop and reactivate a 200- mile crude oil pipeline between Longview and Houston.
The project will take liquefied petroleum gases from a storage complex run by Lone Star in Mont Belvieu, Texas, via Sunoco's existing pipeline to its terminal in Nederland, Texas, which has round-the-clock access to vessels in the Gulf Coast.
Light synthetic crude from the oil sands last traded at a discount of $0.80 per barrel under WTI, down from a settlement price on Friday of $3.00 per barrel over the benchmark. Suncor Energy Inc's 140,000 barrel per day refinery in Edmonton, Alberta, was in full shutdown.
NEW YORK, May 6- The CME Group intends to launch at least two new U.S. crude oil futures contracts before the end of this year, as the rapid growth in U.S. oil production and infrastructure boosts liquidity in Gulf Coast spot markets.