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Oil and Gas Refining

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  • 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...

  • NEW YORK, Dec 14- For the past 18 months, Americans from Albany to Oregon have voiced growing alarm over the rising number of oil-laden freight trains coursing through their cities, a trend they fear is endangering public safety. The public assistance in states like New York, Pennsylvania, Ohio, Oklahoma and Oregon comes as railroads are posting record profits, and...

  • FACTBOX-Taxpayers help subsidize oil-by-rail boom Sunday, 14 Dec 2014 | 7:00 AM ET

    Granting Agency: U.S. Department of Transportation Amount: $10 million Year: 2013 Recipient: South Eastern Pennsylvania Transportation Authority Description: Used to separate a CSX freight and commuter line that became crowded as demand for crude by rail grew in the Philadelphia area. Granting Agency: U.S. Department of Transportation Amount: $6.6 million...

  • Bakken-Cushing pipeline project slammed shut Saturday, 13 Dec 2014 | 11:01 AM ET
    Tomco oil workers sands facility sign, oil field, oil pipeline

    Enterprise Products Partners is shelving a pipeline that would have transported crude from North Dakota to Oklahoma, the company said Friday.

  • UPDATE 11-Oil tumbles towards $62 on supply glut Friday, 12 Dec 2014 | 10:09 AM ET

    LONDON, Dec 12- Oil fell to fresh lows not seen since July 2009 on Friday with Brent crude slipping towards $62 a barrel on concerns over a global supply glut and weak demand. The International Energy Agency said oil prices would likely come under further pressure, cutting its outlook for demand growth in 2015 and predicting that non- OPEC output gains would...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Oil's rout extended on Friday, with Brent crude slipping towards $62 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for...

  • *Oil refiners may pay $1 billion more in taxes. NEW DELHI, Dec 12- A plunge of nearly half in oil prices could help Indian Finance Minister Arun Jaitley reap a fiscal windfall of at least $12 billion when he presents his 2015/ 16 budget in February, two government sources told Reuters. As a result, the government would claw back most of the money that India saves on oil...