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Oil and Gas Refining

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  • Brent approaches $61, set to end 7-month losing streak Thursday, 26 Feb 2015 | 9:24 PM ET

    *Statoil shuts Statfjord C platform in North Sea. SINGAPORE, Feb 27- Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices. Norwegian energy firm Statoil has shut its Statfjord C platform in the North Sea after...

  • HOUSTON, Feb 26- The United Steelworkers union and lead refinery owner representative Shell Oil Co discussed on Thursday a possible resumption of face-to-face negotiations to settle the U.S. refinery strike, which was in its 26th day, people familiar with the discussions told Reuters. No date had been set as of Thursday for resuming direct meetings, the sources...

  • NEW YORK, Feb 26- Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand. While Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia, U.S. crude...

  • Feb 26- Western Refining Inc reported a fourth-quarter profit compared with a loss a year earlier, helped by improved refining margins and a hedging gain. The U.S. oil refiner reported a net profit attributable to the company of $130.9 million, or $1.33 per share, in the quarter ended Dec. 31, compared with a net loss of $7.3 million, or 9 cents per share.

  • PARAGUANA/ CARACAS, Venezuela, Feb 25- Venezuelan state oil company PDVSA's 146,000- barrel-per-day El Palito refinery has been halted since Monday due to problems with a compressor and a demineralization plant, union leader Ivan Freites said on Wednesday. Amuay, the OPEC country's biggest refinery, is operating at 370,000 bpd, well below its 645,000- bpd...

  • Feb 25- A leak caused the shutdown of a crude distillation unit at BP Plc's Whiting, Indiana, refinery on Wednesday, according to a report on the nwitimes news website. The refinery continues to produce gasoline and other fuels, the report said, citing BP spokesman Scott Dean. Reuters earlier reported the shutdown of the second-largest crude distillation unit, the...

  • Are oil producers running out of closet space? Wednesday, 25 Feb 2015 | 5:51 PM ET
    Oil tanks and pump jacks are seen in an oil field near Bakersfield, Calif.

    Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.

  • HOUSTON, Feb 25- The largest U.S. refinery strike since 1980 continued through its 25th day on Wednesday with no movement toward renewed talks to end a walkout by 6,550 union workers at 15 plants, including 12 refineries accounting for one-fifth of domestic capacity. A spokesman for lead refinery owner representative Shell Oil Co, the U.S. arm of Royal Dutch Shell...

  • *Saudi Arabia's oil minister says markets are calm. LONDON, Feb 25- Brent crude held steady around $59 a barrel on Wednesday as Saudi Arabia's oil minister said oil demand is growing and markets are calm. "Markets are calm now... demand is growing," said minister Ali al-Naimi, the driving force behind OPEC's shift in policy at its November meeting, when the group decided...

  • SINGAPORE, Feb 25- Brent crude edged up towards $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on U.S. interest rates and the euro zone's approval of reforms proposed by Greece. Brent had climbed 16 cents to $58.82 a barrel by 0537 GMT, while U.S. crude futures fell 11 cents to $49.17 a...

  • SINGAPORE, Feb 25- Brent crude rose marginally towards $59 a barrel on Wednesday, helped by better than expected Chinese factory activity data, the Federal Reserve's flexible stance on U.S. interest rates and the eurozone's approval of reforms proposed by Greece. Brent added 22 cents to $58.88 a barrel by 0317 GMT, while U.S. crude futures fell 2 cents to $49.26 a...

  • The U.S. Senate Majority Leader Mitch McConnell, after receiving Obama's veto message, immediately countered by announcing the Republican-led chamber would attempt to override it by March 3. The TransCanada Corp pipeline would carry 830,000 barrels a day of mostly Canadian oil sands crude to Nebraska en route to refineries and ports along the U.S.

  • UPDATE 1-Obama vetoes Keystone XL pipeline bill Tuesday, 24 Feb 2015 | 4:06 PM ET

    WASHINGTON, Feb 24- President Barack Obama on Tuesday swiftly delivered on his vow to veto a Republican bill approving the Keystone XL oil pipeline from Canada, leaving the long-debated project in limbo for another indefinite period. The Senate received Obama's veto message and Senate Majority Leader Mitch McConnell immediately countered by announcing...

  • HOUSTON, Feb 24- United Steelworkers union International President Leo Gerard said on Tuesday that the U.S. refinery strike could spread if talks do not resume soon. "depends on what happens in the next round of negotiations and that those negotiations resume fairly quickly," Gerard in a telephone news conference from Atlanta. No date has been set to resume talks...

  • BANGKOK, Feb 24- Bangchak Petroleum PCL will invest 20 billion baht, mainly on exploration and production, in 2015 and 2016 as part of a plan to spend 90 billion baht in the next six years to boost its business, the Thai oil refiner said. It also acquired about 80 percent of Australian oil and gas explorer Nido Petroleum Ltd in 2013 to secure energy supplies.

  • HOUSTON, Feb 23- Talks to end the largest U.S. refinery strike in 35 years are not expected to resume this week, sources familiar with the negotiations said on Monday after the number of plants hit by walkouts increased over the weekend. The halt in talks comes after the USW pulled workers from three Motiva Enterprises LLC refineries in Louisiana and Texas...

  • SINGAPORE, Feb 24- U.S. crude held steady in early Asian trade on Tuesday after dropping below $50 a barrel the session before, while heating oil futures had jumped 5 percent in the United States due to operational problems at major refineries there. *U.S. crude for April delivery was trading 3 cents higher at $49.48 a barrel at 0018 GMT. *Royal Dutch Shell Plc is...

  • HOUSTON, Feb 23- Talks to end the largest U.S. refinery strike in 35 years are not expected to resume this week, sources familiar with the negotiations said on Monday after the number of plants hit by walkouts increased over the weekend. Face-to-face meetings between the United Steelworkers union and lead refinery owner representative Shell Oil Co, the U.S. arm of...

  • NEW YORK, Feb 23- Oil prices were down on Monday on worries of oversupply and a strong dollar, but bets the market had hit bottom after a seven-month selloff limited the downside, traders said. The largest U.S. refinery strike in 35 years, involving workers at 12 refineries that account for one-fifth of the national production capacity, has also been a negative for...

  • LONDON, Feb 23- Oil prices fell on Monday as worries about oversupply and a further rise in dollar exchange rates pushed Brent futures down by over a dollar to around $59 a barrel. This frames the stage for lower prices in 1 Q15, "said Bank of America Merrill Lynch d in a note. Brent crude was trading $1.07 lower at $59.14 at 1430 GMT.