MINNEAPOLIS— Minnesota Pipe Line Co. announced plans Thursday to nearly double the capacity of a crude oil pipeline that carries oil from Canada and North Dakota to the two refineries in the Twin Cities that produce most of Minnesota's and much of Wisconsin's transportation fuels.» Read More
CALGARY, Alberta, Dec 17- TransCanada Corp expects its new 700,000- barrel-per-day Gulf Coast oil pipeline to begin service on Jan. 22, Chief Executive Russ Girling said in an interview on Tuesday.
*Coming up: API U.S. oil inventory report at 4:30 p.m. EST. NEW YORK, Dec 17- Brent crude oil fell on Tuesday pressured by the specter of the U.S. "People seeing the taper ending is giving a little bit of bearish sentiment to the market," said Michael Lynch, oil analyst and president of consultancy Strategic Energy& Economic Research Inc in Winchester, Massachusetts.
*Speculation Fed may start to reduce $85 billion- a-month stimulus. LONDON, Dec 17- Brent crude oil slipped below $109 a barrel on Tuesday, ahead of a U.S. Brent futures for February traded 75 cents down at $108.66 by 1435 GMT.
*Speculation Fed may start to reduce $85 billion- a-month stimulus. LONDON, Dec 17- Brent crude oil slipped below $109 a barrel on Tuesday, ahead of a U.S. Brent futures for February traded 64 cents down at $108.77 by 1242 GMT, after settling $1.64 higher on Monday, its biggest daily gain in two weeks.
MOSCOW, Dec 17- Russia has agreed to resume oil supplies to a refinery in Ukraine, traders said, in a sign Moscow is ready to reward the country's president for spurning a trade deal with Europe in favour of ties with its former Soviet master.
HOUSTON, Dec 16- The U.S. Chemical Safety Board on Monday called on California officials to adopt new rules for crude oil refineries that would force owners to prove they can operate their plants at the lowest risk practicable, the federal investigative agency said.
NEW YORK, Dec 16- U.S. crude oil production, rejuvenated by the advent of "fracking" shale formations, will approach historic highs by 2019, the Energy Information Administration said on Monday, raising its forecast to levels that would have been unforeseen just a few years ago.
NEW YORK, Dec 16- U.S. crude oil production will rise faster than expected to a near historic high by 2016, according to the Energy Information Administration, which sharply raised its annual output forecasts on Monday due to the breakneck speed of shale oil development.
CARACAS/ HOUSTON, Dec 16- A change to the tax system and a currency devaluation in Venezuela boosted state oil firm PDVSA's first-half results, but the company cut back on social spending after heavy election-year outlays in 2012..
NEW DELHI, Dec 16- India has asked Iran to provide financial guarantees before Delhi continues to allow vessels with Iranian insurance cover to enter Indian waters, the latest sign of difficulties Iran is facing in exporting oil.
*Brussels presses Washington to increase natural gas exports. BRUSSELS, Dec 16- European negotiators, hoping to cut fuel bills, will press their U.S. counterparts in Washington this week on including energy exports in a transatlantic trade pact that aims to integrate two markets accounting for half the world's economy.
NEW YORK, Dec 13- Continental Resources, one of the companies that has committed to ship crude on TransCanada Corp's proposed Keystone XL pipeline, now says the controversial pipeline is no longer needed.
OTTAWA, Dec 13- Canada is considering classifying crude oil as a higher-risk, dangerous product requiring emergency response plans for shipment by rail following a train accident that leveled the heart of a Quebec town in July, a government official said on Friday.
TRIPOLI, Dec 13- A group that has seized oil ports as it seeks autonomy for East Libya said it would negotiate with government officials for a greater share of the country's wealth but if its demands were not met by Sunday, it would try to sell crude on its own.
TRIPOLI, Dec 13- A group seeking autonomy for East Libya said it would negotiate with government officials on Saturday but if its demands are not met by Sunday for a greater share of the oil wealth, it would try to sell crude on its own.
--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Dec 13- Chinese oil demand this year is virtually certain to miss forecasts by the International Energy Agency and the country's top producer. It is also below the 10.28 million bpd forecast in January by top state oil company China National Petroleum Corp.
*Libya may reopen three oil ports this weekend. LONDON, Dec 12- Brent oil futures fell to around $109.50 a barrel on Thursday on the possible reopening of major Libyan ports this weekend and expectations that the U.S. Otherwise, you have the Fed meeting next week, " Olivier Jakob at Petromatrix consultancy in Switzerland said.
SINGAPORE, Dec 12- Brent futures held steady above $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices, keeping investors at bay.
TRIPOLI, Dec 11- Libya's government expects eastern tribes to reopen three oil ports this weekend as pledged but refuses to deal with an autonomy movement demanding a share of oil exports, Prime Minister Ali Zeidan said on Wednesday.
*Sign of Saudi Arabia becoming self-sufficient in meeting gasoil needs. SINGAPORE, Dec 11- Exxon Mobil Corp has offered gasoil cargoes through a rare term tender from its joint-venture refinery in Saudi Arabia, in a further sign that the country is becoming more self-sufficient in meeting its gasoil needs.