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Oil and Gas Refining

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  • HOUSTON, Jan 10- A loud explosion rocked Husky Energy's 155,000 barrel per day crude oil refinery in Lima, Ohio, early on Saturday but no injuries were reported. The blast at about 6 a.m. local time was heard across the city of Lima, according to local media reports. A Lima- area emergency management official told the Lima News that the explosion was on the 26,000 bpd...

  • By Jane Xie SINGAPORE, Jan 9- For the first time since 2009, a contract to buy crude oil or any sort of refined product costs less if it's for immediate delivery than for future shipment, giving traders more reason to buy now than later. The entire oil complex slipped into contango on Wednesday as a deluge of cargoes triggered by the rise of U.S. shale oil and refinery...

  • MEXICO CITY, Jan 8- Mexico's state oil company, Pemex, said on Thursday it has proposed an oil swap with the United States, potentially ushering in the first sustained crude imports by Mexico from its northern neighbor after years of self-sufficiency. Under the proposal, Mexico would in exchange provide the United States with heavier Mexican crude for...

  • BEIJING, Jan 7- Tumbling world oil prices sparked a buying spree by China that led to record crude imports in December, according to Reuters estimates that suggest the top energy consumer doubled the oil put aside for strategic reserves in 2014 compared with 2013.. The figures indicate that thanks to the doubling of surplus oil in its system last year, China is...

  • Key to oil reversal   Tuesday, 6 Jan 2015 | 5:09 PM ET
    Key to oil reversal

    "Fast Money" trader Brian Kelly attempts to find the bottom in oil.

  • WASHINGTON, Jan 6- Republican senators kicked off the new U.S. Congress with legislation to approve the hotly disputed Keystone XL oil pipeline, but the White House promptly threatened a veto. "There is already a well-established process in place to consider whether or not infrastructure projects like this are in the best interest of the country," White House...

  • WASHINGTON, Jan 6- Republican senators this week made good on a campaign promise and kicked off the new Congress with a bill to approve the Keystone XL pipeline, saying if President Barack Obama vetoes it, they have a plan to pass the measure later in the year. Senator John Hoeven, a North Dakota Republican, introduced a bill on Tuesday to approve TransCanada Corp's...

  • NEW YORK, Jan 6- As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America's Gulf Coast refinery market threatens to drive prices even lower. From the Middle East, top exporter Saudi Arabia is offering crude at discounted prices in an attempt to defend...

  • WASHINGTON, Jan 2- The head of the Senate energy committee plans to introduce a bill next week to force approval of the Keystone XL oil pipeline, though the full chamber faces a battle in obtaining needed votes to overcome any veto by President Barack Obama. Keystone supporters say they picked up votes for TransCanada Corp's $8 billion project in November's...

  • WASHINGTON, Jan 2- The head of the Senate energy committee plans to introduce a bill next week to force approval of the Keystone XL oil pipeline, though the full chamber faces a battle in obtaining needed votes to overcome any veto by President Barack Obama. Senator Lisa Murkowski, an Alaska Republican and the new head of the energy committee, will introduce the...

  • NEW YORK, Dec 31- Mexican crude oil is sailing to the U.S. East Coast at the highest rate in over a decade, according to customs data reviewed by Reuters, in a sign deepening discounts help crack open new markets as domestic shale inundates Texas. It was the refiner's first imports from Mexico since 2009, the furthest the data go back. Monroe has received two more...

  • NEW YORK, Dec 30- A federal judge has rejected Wachtell, Lipton, Rosen& Katz's bid to dismiss CVR Energy Inc's lawsuit accusing the prominent New York law firm of malpractice in advising on a 2012 hostile takeover of the oil refiner by billionaire Carl Icahn. District Judge Richard Sullivan in Manhattan declined to end the federal case even though a New York state...

  • *Hariga fields still producing- oil official. BENGHAZI, Libya, Dec 29- Libya's oil output has shrunk back further after blazing oil tanks at a major terminal helped world oil prices higher and burnt a bigger hole in its dollar currency reserves. Libya has appealed to Italy, Germany and the United States to send firefighters.

  • DUBAI, Dec 28- Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, analysts say. For the 2015 budget, announced on Thursday, four analysts' oil price estimates are in a range of $55 to $63. That does not mean Saudi Arabia...

  • Crude inventories rose by 7.3 million barrels in the last week, according to Energy Information Administration data, surprising analysts who had expected a decrease of 2.3 million barrels. "It's a very bearish report and plays into the mantra of supply glut and it will be interesting to see if the price can test the lows in the $53 area as the year comes to a close,"...

  • TOKYO, Dec 22- Japanese stocks advanced on Monday as rebounding crude prices underpinned oil-related shares. The Tokyo Stock Exchange oil and coal products companies subindex starred, gaining 8.4 percent as oil staunched its recent losses. Oil refiner Showa Shell Sekiyu soared 27.7 percent on a media report that it was in talks to be acquired by bigger rival...

  • TOKYO, Dec 22- Japanese stocks briefly hit a two-week high on Monday morning, led by oil-related shares on rebounding crude prices and as Showa Shell Sekiyu surged over 25 percent on a media report of an impending takeover bid. Oil refiner Showa Shell Sekiyu was the highlight of the session, surging 25.6 percent after media reported the oil refiner was in talks to...

  • Motiva backs off hydrocracker expansion at Texas refinery Wednesday, 17 Dec 2014 | 3:19 PM ET

    HOUSTON, Dec 17- Motiva Enterprises has withdrawn its permit request to expand a hydrocracker and diesel hydrotreater unit at its Texas refinery, the largest in the United States. In a brief letter received by the U.S. Environmental Protection Agency earlier this month, Motiva asked, without explanation, to withdraw its August permit application for the...

  • Dec 16- Citgo Petroleum Corp, Venezuela's U.S. oil refining unit, has received revised bids from at least four bidders, some which have valued the company at more than $10 billion, according to three people familiar with the matter. The companies that made bids in December include Marathon Petroleum Corp, Valero Energy Corp, HollyFrontier Corp and a consortium of...

  • PRECIOUS-Gold edges up after worst day in a year Monday, 15 Dec 2014 | 7:52 PM ET

    SINGAPORE, Dec 15- Gold edged higher on Tuesday after falling more than 2 percent the session before in its deepest slide in over a year following a sustained slump in oil prices. *Spot gold was up 0.3 percent at $1,196.10 an ounce by 0035 GMT. *Speciality chemicals firm Johnson Matthey has agreed to sell its gold and silver refining business to Japan's Asahi...