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Oil and Gas Refining

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  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 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 demand growth in 2015...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and a sluggish demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for...

  • LONDON, Dec 12- Brent crude oil slipped on Friday to $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. The market has reacted strongly to the OPEC forecast cut, and it is focusing only on the negative, "said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.

  • Best-known is Continental Resources, which lifted its hedges in early November, when oil was trading at around $83 a barrel, leaving it unprotected as prices slipped another $20, the most dramatic drop since the 2008 crisis. Apache Corp and Whiting Petroleum are also exposed to lower prices and have underperformed some peers over the past two weeks.

  • WASHINGTON/ OTTAWA, Dec 11- Top transportation officials from Canada and the United States are due to meet next week to hash out differences about safety regulations for trains that carry oil, sources familiar with the planned meeting said on Thursday. That crash involved old-style DOT-111 tanker cars that Canada wants taken off the tracks by May 2017.

  • *India ONGC may get stake in Russia's far east LNG project. NEW DELHI, Dec 11- Russia's top oil producer Rosneft struck oil and gas deals with India on Thursday, seeking to strengthen ties with Asia and diversify its exports away from Europe, under pressure from Western sanctions. During President Vladimir Putin's one-day visit to the Soviet-era ally, Rosneft...

  • SEOUL, Dec 11- U.S. crude futures edged back above $61 a barrel in early Asian trade on Thursday, but remained near the lowest for more than 5 years after data showing a spike in U.S. oil stocks and after another pledge by Saudi Arabia not to cut output. Other OPEC member Venezuela's foreign minister and top OPEC emissary Rafael Ramirez provided his country's answer...

  • NEW YORK, Dec 10- Oil prices tumbled 5 percent on Wednesday, pushing U.S. crude to five-year lows near $60 a barrel after data showed a spike in U.S. inventories and Saudi Arabia's oil minister reiterated that he has no plans to cut output. Saudi Oil Minister Ali al-Naimi, on a visit to Peru, shrugged off suggestions that the kingdom might cut output, sticking to his...

  • HOUSTON, Dec 10- Big foreign oil producers in Venezuela are seeking to sell state-run PDVSA light crudes from countries like Nigeria and even the United States, aiming to better control the quality and cost of domestic blends and boost production from their Orinoco belt joint ventures, sources say. Instead, it began buying Saharan Blend crude produced in...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Dec 8- It's getting harder to pull together a convincing, all-encompassing narrative for China's commodity imports, with the November trade data showing a fractured picture. While China also remained a net exporter of refined fuels in November, it was only just, with customs data showing net exports of...

  • SINGAPORE, Dec 4- U.S. crude futures extended gains towards $68 a barrel on Thursday, buoyed by positive inventory data. *U.S. crude futures had risen 31 cents to $67.69 a barrel by 0010 GMT, after a 50- cent gain in the previous session. *The euro staggered at two-year lows early on Thursday, finding few friends in a market that is wagering the European Central Bank will...

  • LAUNCESTON, Australia, Dec 3- The sharp fall in crude prices since June should be like manna from heaven for Asia's oil refiners, but while margins have recovered, they aren't dramatically higher. The profit margin for a barrel of crude processed at a refinery in Singapore using Dubai crude was $7.28 a barrel on Tuesday, according to Reuters data.

  • SINGAPORE, Dec 3- U.S. crude futures gained more than one percent on Wednesday, rising close to $68 a barrel, after industry data showed a larger than expected drop in crude oil inventories in the United States. *OPEC's oil supply in November fell by 340,000 barrels per day as a recovery in Libya faltered, a Reuters survey found, although a lack of deliberate cutbacks...

  • VANCOUVER, Dec 2- TransCanada Corp, Canada's No.2 pipeline operator, is pausing work on a proposed oil export terminal in Quebec, after a federal committee recommended that Beluga whales in the St. "This news yesterday that there's a recommendation to place those belugas on the endangered species list, for us, was a signal that we needed to hit the pause button," said...

  • *OPEC output 300,000 bpd above 30 million bpd target. Supply from the Organization of the Petroleum Exporting Countries averaged 30.30 million bpd in November, down from a revised 30.64 million bpd in October, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants. OPEC at its meeting in Vienna...

  • YOGYAKARTA, Indonesia/ JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on any corruption in the state oil trader. In 2013, Indonesia's oil and gas sector made up over 7 percent of GDP in the $740 billion economy,...

  • JAKARTA, Dec 2- Indonesia's new administration plans a major expansion of oil storage and will construct more refineries as part of sweeping energy reforms that will also help in cracking down on corruption in the state oil trader. Sworn in just six weeks ago, President Joko Widodo launched the overhaul of the scandal-tainted oil and gas sector last Friday by...

  • CALGARY, Alberta, Dec 1- While North America has been gripped by controversy over the Keystone XL pipeline that would ship crude to the United States from the Canadian oil sands, a small Canadian company has been quietly digging in the oil sands of Utah with a secret weapon it thinks may end the environmental argument: citrus. The Calgary- based firm is developing...

  • SOCHI, Russia, Nov 28- Russian oil producer Rosneft has signed an agreement with France's Total to buy a 16.67 percent stake in the Schwedt refinery in Germany, Rosneft said in a statement on Friday.