MINNEAPOLIS— Minnesota Pipe Line Co. announced plans Thursday to nearly double the capacity of a crude oil pipeline that carries oil from Canada and North Dakota to the two refineries in the Twin Cities that produce most of Minnesota's and much of Wisconsin's transportation fuels.» Read More
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.
NEW YORK, April 14- Brent crude oil rose more than $1.50 on Monday as tensions escalated in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the U.S. economy.
NEW YORK, April 14- Brent crude oil rose more $1.50 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.
NEW YORK, April 14- Brent crude oil rose $1 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.
LONDON, April 14- Oil rose towards $108 per barrel on Monday on concern that escalating tension between Russia and Ukraine could lead to supply disruption, though prices were capped by the prospect of a recovery in Libyan exports.
LONDON, April 14- Oil was flat on Monday, as the prospect of a recovery in Libyan exports offset concern that escalating tension between Russia and Ukraine could lead to supply disruption. U.S. oil slipped 24 cents to $103.50 after settling 34 cents up in the previous session.
The price of crude oil was volatile around $104 a barrel on Monday amid escalating tensions in Ukraine. By early afternoon in Europe, benchmark U.S. crude for May delivery was down 11 cents to $103.63 a barrel in electronic trading on the New York Mercantile Exchange.
TRIPOLI, April 13- Libya's western Zawiya oil port has resumed operations after protesters vacated the entrance to the facilities and the adjoining refinery will restart in about 24 hours, a spokesman for the state oil company said on Sunday.
RIO DE JANEIRO, April 11- The purchase of a Texas oil refinery by Brazil's state-run oil company has become a campaign issue as opponents of President Dilma Rousseff use it to attack her reputation as a no-nonsense manager and weaken her lead ahead of the October election.
LONDON, April 11- Brent oil futures dipped towards $107 a barrel on Friday following a weaker outlook for 2014 global demand growth from the International Energy Agency and due to expectations that more Libyan crude will reach the market next week. Brent crude was down 29 cents at $107.17 a barrel by 0927 GMT after settling 52 cents lower on Thursday.
*Libya's state National Oil Corp lifts force majeure for Hariga port. SINGAPORE, April 11- Brent futures eased towards $107 a barrel on Friday as the global supply outlook improved with more Libyan supplies expected to reach the market, although growing tension between the West and Russia over Ukraine put a floor under prices.
*OPEC cautious on economy, sees lower demand for its oil. SINGAPORE, April 11- Brent futures eased towards $107 a barrel on Friday as the global supply outlook improved with more Libyan supplies expected to reach the market, although growing tension between the West and Russia over Ukraine put a floor under prices.
LAUNCESTON, Australia, April 11- The problem with China's crude oil trade data so far this year is that the same set of numbers can tell different and seemingly contradictory stories.
SALT LAKE CITY— A 2009 explosion at a northern Utah oil refinery that knocked a neighboring home off its foundation and singed dozens of others began with a corroded pipe that went years without proper inspection, federal investigators say.
DAKAR/ LONDON, April 10- Africa's dependency on fuel imports is likely to grow as its refining projects struggle to get off the ground, a Vitol director told a Reuters Africa Summit.
*Copper, iron ore see double-digit month-on-month growth in March. SHANGHAI, April 10- China's imports of iron ore and copper soared in March from the previous month in anticipation of higher seasonal demand in the world's top metals consumer, though crude oil shipments dropped after three months of high inbound volumes.
*China exports fall for 2nd straight month in March. LONDON, April 10- Global oil prices slipped towards $107 a barrel on Thursday as Chinese data stoked concerns over demand growth in the world's second-largest economy while markets watched for evidence of a resumption in Libyan exports.
SINGAPORE, April 10- Brent futures eased towards $107 a barrel on Thursday as weak China trade data stoked demand growth concerns and investors booked profits after gains of 2 percent over the past two days.
*China now looking at using fuel to make petrochemicals. BEIJING, April 10- A deal between China's top refiner Sinopec Corp and Phillips 66 could be a game changer that signals the United States is on track to become one of the top suppliers of liquefied petroleum gas to the world's second-biggest economy.
*NOC is Ethiopia's largest private marketer. ADDIS ABABA, April 9- Ethiopia's leading private oil marketer plans to expand into neighbouring east African economies and is interested in part financing a refinery after commercial discoveries in the region.