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Oil and Gas Refining

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  • SAN FRANCISCO, Oct 22- Shipments of Bakken crude oil from North Dakota to California by barge have quietly overtaken those by train for the first time, showing how the state's isolated refiners are using any means necessary to tap into the nation's shale oil boom. While tough permitting rules and growing resistance by environmentalists have slowed efforts to...

  • Cenovus's operating cash flow from refining fell 53 percent due to an unplanned coker outage in July at its Borger refinery in Texas and a planned turnaround at the Wood River refinery in Illinois. Cenovus, which co-owns the Foster Creek and Christina Lake oil sands projects with ConocoPhillips, said its total oil production rose 13 percent to 199,089 barrels...

  • Cenovus Energy profit falls 4 pct Thursday, 23 Oct 2014 | 6:13 AM ET

    Oct 23- Cenovus Energy Inc, Canada's No.2 independent oil producer, said its quarterly profit fell 4 percent, hurt by an unplanned outage at a refinery. Net income fell to C $354 million, or 47 Canadian cents per share in the third quarter ended Sept. 30, from C $370 million, or 49 Canadian cents per share, a year earlier. Operating cash flow from refining fell 53 percent to...

  • BEIJING, Oct 23- China's commercial crude oil inventories rose for a third straight month in September as refiners focused on drawing down refined fuel stocks, which fell 2.7 percent over the previous month, the official Xinhua news agency said on Thursday. Diesel led the fall with a 5.12 percent decline, as harvesting and fishing activity pushed consumption...

  • CARACAS, Oct 22- Venezuelan state oil company PDVSA plans to invest $20 billion to expand its domestic refining capacity by 20 percent, a company official said on Wednesday, without providing a time frame for when the investments would take place. The OPEC nation has in recent years announced aggressive expansion plans for its oil industry that have not come to...

  • The Government Accountability Office also recommended that the U.S. Department of Energy review the size of the Strategic Petroleum Reserve to ensure it remains appropriate as net oil imports fall. GAO's enormous influence and professional prestige is most likely the reason it was asked to do the study by Senator Lisa Murkowski, the top-ranked Republican...

  • *Kuwait is placing restrictions on Chevron's operations- sources. DUBAI/ KHOBAR, Saudi Arabia Oct 21- Saudi Arabia's closure of an offshore oilfield it shares with Kuwait has revived speculation of renewed tensions between the two, and put Chevron's role in the shared Neutral Zone in focus. Any differences between the two OPEC allies are watched closely by oil...

  • WASHINGTON, Oct 20- Islamic State militants were producing about $2 million worth of crude oil per day in Iraq and Syria before recent U.S.-led air strikes, possibly more than double the amount heard in U.S. congressional testimony last month, the research firm IHS said on Monday. "This fraction of pre-war capacity is the result of warfare, shut-ins and limited...

  • *Deregulation not to impact India's diesel exports. NEW DELHI, Oct 20- India's scrapping of diesel price controls opens the door for private sector refiners to return to a domestic retail market from which they have been excluded for years because they could not compete with state firms. Reliance Industries plans to revive its old business cautiously, while...

  • Saudi crude exports have been sliding in the past few months as shale oil squeezes Saudi oil out of U.S. markets and as demand in Asia, particularly in China, has been slower than expected. North America's shale boom has started to squeeze Saudi oil out of the U.S. market, the International Energy Agency said in a report last month, estimating Saudi exports would run...

  • *Exxon Mobil says refinery strategic regardless of EU policy. ANTWERP, Belgium, Oct 16- Exxon Mobil is pouring $1 billion into a refinery in the European Union, setting aside concerns ranging from poor margins to EU green energy rules due to be agreed next week that will cut demand for oil. Heavy industry and some nations, such as coal-dependent Poland, have argued...

  • *Exxon Mobil says refinery strategic regardless of EU policy. ANTWERP, Belgium, Oct 16- Exxon Mobil is pouring $1 billion into a refinery in the European Union, setting aside concerns ranging from poor margins to EU green energy rules due to be agreed next week that will cut demand for oil. Heavy industry and some nations, such as coal-dependent Poland, have argued...

  • India's Jan-Sept Iran oil imports up 38 pct y/y -trade Wednesday, 15 Oct 2014 | 2:37 AM ET

    *India's total Sept oil imports drop 1.9 pct y/y- trade. NEW DELHI, Oct 15- India's oil imports from Iran rose 38 percent in the first nine months of the year as shipments surged with an easing of Western sanctions over Tehran's suspected nuclear activities, tanker arrival data obtained from trade sources shows. Diplomats from the United States, the European Union...

  • NEW YORK, Oct 14- Saudi Arabia's move to keep crude oil production high, fueling a steep global price slump, may have an unexpected consequence: intensifying the campaign by U.S. producers to scrap Washington's decades-old ban on exports of domestic crude. But many Americans, fearful of high gasoline prices, support the ban, as do their members of Congress.

  • *Russia has increased oil product exports to Europe. MOSCOW, Oct 13- Russia is diverting more of its crude oil east with deliveries to China hitting a new record last month at the expense of Europe as geopolitical tensions between Moscow and the West dictate the latest shift in flows. As Russia's relations with the West deteriorated over the Ukraine crisis, the...

  • Refinery switching to newer rail cars for crude Saturday, 11 Oct 2014 | 7:15 PM ET

    BELLINGHAM, Wash.— A refinery in northwest Washington state says it will no longer accept any volatile North Dakota crude oil unless it arrives on newer-model tank cars. By the first week of October, the BP Cherry Point facility had stopped using pre-2011 standard tank cars, known as DOT-111 cars, for the shipments, The Bellingham Herald reported.

  • *OPEC leaves 2014, 2015 demand forecasts steady. *OPEC delegate says Saudi Arabia should cut its output. LONDON, Oct 10- Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output.

  • Oil price drop may hurt shale drilling profits Friday, 10 Oct 2014 | 11:39 AM ET
    View of three oil wells and flaring of natural gas on The Fort Berthold Indian Reservation near New Town, ND on August 13, 2014.

    The continual drop in oil prices could hurt shale drilling's profitability, finds a report from Goldman Sachs.

  • LONDON, Oct 10- "A rose by any other name would smell as sweet," William Shakespeare wrote in "Romeo and Juliet". OPEC, which includes crude but not condensate in its production quotes, has also struggled and failed to agree on common definitions. In the past, the inconsistent treatment of condensates in the United States did not matter because they were a relatively...

  • SAN FRANCISCO, Oct 9- California environmentalists on Thursday filed a lawsuit against the Kern County Board of Supervisors for its approval last month of a major oil-by-rail project in the state, saying the county failed to disclose the risks of the project to the public. But groups behind the lawsuit, including the Sierra Club and the Center for Biological...