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Oil and Gas Refining

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  • HOUSTON, April 16- Striking workers at the Marathon Petroleum Corp's Galveston Bay refinery in Texas City, Texas, rejected the company's final contract offer, said an official of the United Steelworkers union local representing the workers. In rejecting the offer, the union said told Marathon it was willing to resume negotiations on Monday in an effort to end...

  • Port of Longview working on crude oil refinery proposal Thursday, 16 Apr 2015 | 12:43 PM ET

    PORTLAND, Ore.— The Port of Longview says it's working with an energy company on a proposal for a new crude oil refinery, the first such facility on the Columbia River. Columbia Riverkeeper said if a refinery is built in Longview, it would be the first on the West Coast in over 25 years, and the sixth refinery in Washington state. Longview is 50 miles north of Portland.

  • LONDON, April 16- U.S. refiners have come back unusually early from the maintenance season to maximise throughput of cheap crude and turn it into valuable products in time for the summer driving demand surge. Refinery run rates normally begin to rise around now as maintenance ends and refineries come back online, but this year production is rising unusually...

  • LONDON, April 16- Cheap oil has pushed motorists back to their old gas guzzling habits, unexpectedly helping extend record profits and crude processing for refiners around the world. But the rush to cash in led to fears of a storage glut in oil products, and the industry has been bracing for a profitability crash for months due to massive new state-of-the-art...

  • *OPEC March output surges 810,000 bpd on Saudi, Iraq boost. In a monthly report on Thursday, OPEC said demand for its oil this year would be 80,000 barrels per day higher than previously thought as lower prices curb supplies in the United States and other non-member countries. OPEC refused to cut its output in 2014 despite a price collapse, seeking to slow...

  • BEIJING, April 16- China will ban water-polluting paper mills, oil refineries, pesticide producers and other industrial plants by the end of 2016, as it moves to tackle severe pollution of the country's water supply. The long-awaited plan comes as the central government steps up its "war on pollution" after years of industrial development that have left...

  • Energy company eyes Washington state port for new project Wednesday, 15 Apr 2015 | 9:40 PM ET

    SAN FRANCISCO, April 15- Riverside Refining LLC is developing an energy infrastructure project for the Pacific Northwest and is considering Washington State's Port of Longview as a potential location for it, the company's CEO said on Wednesday. Separately on Wednesday, environmental group Columbia Riverkeepers released documents it had obtained through...

  • WASHINGTON, April 15- Iraq's oil minister said on Wednesday his country's oil exports should hit a record of about 3.1 million barrels per day in April as output from the country's southern fields stays strong and weather conditions improve. Mehdi was in Washington with Iraqi Prime Minister Haidar al-Abadi on his first visit to Washington as leader.

  • Oil supply buffer could halve as OPEC output rises Wednesday, 15 Apr 2015 | 10:41 AM ET

    LONDON, April 15- An oil supply shortage may be the last thing on investors' minds right now, but the ability of OPEC producers to cope with an unexpected surge in demand is diminishing fast, analysts and forecasters say. "A much thinner oil supply buffer could be developing," said Virendra Chauhan, oil analyst at London- based market consultancy Energy Aspects.

  • But in many ways China doesn't really look like an economy growing at 7 percent, with exports plunging in March, power generation dropping 3.7 percent, the biggest fall since 2008, and a host of other indicators pointing to sluggish growth. The National Bureau of Statistics remains confident that China will meet its GDP growth target of 7 percent for the whole of...

  • BEIJING, April 15- China's implied oil demand in March rose 7.6 percent from a year ago, as refinery throughput hit a record high due to continued strength in gasoline and kerosene consumption in the world's top energy consumer. The rise in China's commodity consumption and factory activity has eased as growth in the world's second-largest economy slowed to a...

  • QUEBEC CITY, Quebec, April 14- Quebec is in talks with Ontario to sell Hydro-Québec's surplus hydroelectrical power to the neighbouring province and hopes to have an agreement soon, a senior government minister said on Tuesday. "I have been discussing with the Ontario government," Quebec Energy Minister Pierre Arcand said in a telephone interview from New York.

  • Delek said it would buy 33.7 million Alon USA shares, valuing each share at $16.985, which is a premium of more than 8 percent to the stock's Tuesday close. Alon USA's shares were up 5 percent at $16.50 in trading after the bell on Tuesday, while Delek's shares rose 3.2 percent to $39.10. For a year after that, Delek can acquire up to 49.99 percent of Alon USA at its...

  • Delek said on Tuesday it would buy 33.7 million Alon USA shares and that the deal value was based on Delek's closing price of $37.90 on Tuesday. Delek said it would pay $200 million in cash, 6 million in stock and issue Alon Israel an unsecured $145 million promissory note maturing in January 2021. Delek has refineries in Tyler, Texas and El Dorado, Arkansas while...

  • *But global production remains high, China's economy seen slowing. Front-month Brent crude futures were trading up 52 cents a $58.45 a barrel by 0332 GMT, while U.S. crude had risen 63 cents to $52.54. From a fundamental perspective however, supply from the Middle East is expected to remain high, with Saudi Arabia and Iraqi production on the rise, " JP Morgan said in a...

  • SINGAPORE, April 14- Crude prices rose on Tuesday after the U.S. Energy Information Administration said it expected U.S. shale oil output to record its first monthly decline in over four years. Front-month Brent crude futures were trading up 34 cents a $58.27 a barrel by 0106 GMT, while U.S. crude had risen 31 cents to $52.22. From a fundamental perspective however,...

  • *Iran urged the formation of a new Yemeni government on Monday and offered to assist in a political transition, comments likely to anger Saudi Arabia, which is backing Yemen's president against a rebel force allied with Iran. *Russia ended a self-imposed ban on supplying Iran with a defensive missile system on Monday, while launching an oil-for-goods barter...

  • NYMEX-U.S. crude edges down on global glut concerns Sunday, 12 Apr 2015 | 8:41 PM ET

    *U.S. crude for May delivery had fallen 7 cents to $51.57 a barrel by 0026 GMT, after closing up 85 cents in the previous session to mark its fourth consecutive weekly rise. *Oil exports from Iran may not rise significantly for three to five years even if OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of...

  • HOUSTON, April 12- More than 400 striking hourly workers represented by the United Steelworkers union at Lyondell Basell Industries' Houston refinery are scheduled to vote on the company's last, best and final offer on Monday and Tuesday, a local union official said on Sunday. USW Local 13 -227' s executive committee recommended on Sunday that the union's...

  • MOSCOW, April 10- A fire broke out at the Angarsk refinery of Russia's biggest oil firm Rosneft in east Siberia on Friday, killing one worker, Rosneft said. "At 0955 the fire was put out... The work of the enterprise has not been suspended, output has been carried out as planned, "Rosneft said in a statement.