Oil and Gas Refining


  • UPDATE 5-Oil steadies around $103 on ample supply Thursday, 28 Aug 2014 | 9:34 AM ET

    *Fire hits BP's largest U.S. refinery, at Whiting, Indiana. LONDON, Aug 28- Brent crude oil steadied around $103 a barrel on Thursday, not far above 14- month lows on ample supply and lacklustre demand as global economic growth remained tepid.

  • Iraq to appeal U.S court decision on Kurdish oil Thursday, 28 Aug 2014 | 9:15 AM ET

    However, the court gave Baghdad 10 days to resubmit its case. The United Kalavrvta tanker, carrying about $100 million worth of Kurdish crude, has been anchored in the Gulf of Mexico for weeks, with the Iraqi region of Kurdistan locked in a legal battle over ownership with the central government of Iraq.

  • *Supply rises by 90,000 bpd, led by Libya, Angola. LONDON, Aug 28- OPEC's oil production has risen in August from July, a Reuters survey found on Thursday, as a recovery in Libyan supply held up and Angola and Iran boosted supplies, outweighing a further decline in Iraq.

  • *PetroChina says aims to make Athabasca payment soon. HONG KONG, Aug 28- PetroChina, the country's top oil and gas producer which also owns refineries, posted a 15 percent rise in second-quarter profit, partly due to higher upstream earnings and improved refining margins.

  • The imports would mark an abrupt shift from a decades-old devotion to crude oil self-sufficiency in Mexico, long a major exporter to the United States. His comments are the strongest signals to date on both the timing and potential volumes of light crude imports to Mexico.


  • BP says Whiting refinery still in production after fire Thursday, 28 Aug 2014 | 5:43 AM ET
    A gas truck pulls into the tanker farm at BP's refinery in Whiting, Indiana

    BP said its largest U.S. refinery, at Whiting, Indiana, continued to operate on Thursday morning following a blaze the night before.

  • UPDATE 1-Brent hovers below $103 as ample supply weighs Thursday, 28 Aug 2014 | 1:43 AM ET

    *Fire hits BP's largest U.S. refinery. *Hope fades for Ukraine- Russia ceasefire deal. SINGAPORE, Aug 28- Brent futures dipped on Thursday, but still held between $102 and $103 a barrel, as ample supply and a refinery fire in the United States that could reduce crude demand weighed on prices.

  • Aug 28- An explosion shook BP Plc's Whiting, Indiana refinery, its largest in the United States, on Wednesday night but a resulting fire had been contained as of 9:30 pm local time, according to a report by WFLD-TV.

  • SINGAPORE, Aug 28- U.S. crude held near $94 a barrel on Thursday after a neutral inventory report, with investors looking ahead to economic data to gauge the outlook for demand in the world's largest oil consumer. *U.S. crude had edged down 13 cents to $93.75 a barrel by 0033 GMT.

  • *Venezuela has been crude exporter for last century. HOUSTON, Aug 27- OPEC member Venezuela is considering importing crude oil for the first time ever and could use Algerian light crude as blending stock to boost sales of its own extra heavy oil, according to an internal document from the state-run energy company PDVSA seen by Reuters on Wednesday.

  • SINGAPORE, Aug 27- U.S. crude held near $94 a barrel on Wednesday following overnight gains on supportive data that showed a drop in crude inventories last week. *U.S. crude edged down 1 cent to $93.85 a barrel by 0030 GMT after settling up 51 cents on Tuesday.

  • HOUSTON, Aug 26- A tanker loaded with $100 million of Kurdish crude oil cannot be delivered in Texas soon because of risks for buyers as Iraq mulls further legal challenges, so a month-long standoff will drag on, a source close to the matter said on Tuesday.

  • HOUSTON, Aug 26- A tanker loaded with $100 million of Kurdish crude oil cannot be delivered in Texas soon because of risks for buyers as Iraq mulls further legal challenges, so a month-long standoff will drag on, a source close to the matter said on Tuesday.

  • Mexico to receive major economic jolt, experts say Tuesday, 26 Aug 2014 | 4:23 PM ET
    Enrique Peña Nieto, Mexico's president, speaks about energy reform at Los Pinos, the presidential residence, in Mexico City in August 2014.

    Mexico's new energy reforms will not only increase foreign investment, but will also help domestic firms across the economy.

  • QUITO, Aug 26- Ecuador is in talks with China Development Bank to renew a $1.5 billion credit line, the Finance Ministry said on Tuesday, saying that the funds would be used for investments to be carried out in 2015.. Ecuador's Finance Ministry did not respond to requests for more details.

  • HOUSTON, Aug 25- A U.S. court on Monday threw out an order to seize some 1 million barrels of disputed Iraqi Kurdish crude oil from a tanker near Texas, a move that could allow the cargo to be delivered and end a nearly month-long impasse.

  • NEW YORK, Aug 25- A tanker carrying 300,000 barrels of Kurdish crude oil has changed its destination to Limassol, Cyprus, as it returned from the United States without delivering its disputed cargo to a New Jersey refiner.

  • *Libya loads second cargo at largest port Es Sider. LONDON, Aug 22- Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices. "We've reached a stage where the market is looking to stabilise a bit," said Ole Hansen, senior commodity strategist at Saxo Bank.

  • Weak data on China's factory output weighed on oil prices early. NEW YORK, Aug 21- U.S. and Brent crude futures rose on Thursday, lifted by supportive economic data from the United States after a plentiful supply picture and Chinese economic data had earlier pressured prices.