Oil and Gas Refining
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*Restart expected to begin next week-sources. HOUSTON, Nov 28- Motiva Enterprises plans to begin restarting a crude distillation unit at its 600,000 bpd Port Arthur, Texas, refinery next week after it was shut in June to repair massive corrosion from a chemical leak, sources familiar with the refinery said on Wednesday.
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Activism surrounding fracking has now migrated into the ranks of actual shareholders in the companies that perform fracking.
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John Hofmeister, Founder and CEO of Citizens for Affordable Energy, weighs in on preventing another gas shortage.
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Gasoline lines are shorter in some parts of the New York metropolitan area, but the fuel distribution and supply network is still far from normal a week after Super Storm Sandy swept through the area.
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Wilbur Ross, Chairman & CEO, WL Ross & Co. says his firm Exco has not yet confirmed a bid for a joint-venture partner project in Chinese shale gas.
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The FMHR team offers instant analysis of the jobs report, the stock market and the presidential election. Meanwhile, the gas crisis continues in New Jersey, with CNBC's reporter team and John Eichberger, National Association of Convenience Stores.
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Power outages at hundreds of gas stations and a distribution bottleneck due to flooding damage and power loss has caused a gasoline shortage in the New York metropolitan area that may not be cleared up for at least a week, according to industry experts.
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Gasoline futures jumped as East Coast consumers—already stressed by Superstorm Sandy—joined long lines at the pump to fill up cars and gas cans to fuel home generators, causing shortages in some areas.
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Robert Kunkel, Alternative Marine Technologies, discusses how tanker delays caused by the storm may impact oil prices.
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Neil Atkinson, director of energy research & analysis at Datamonitor, tells CNBC that the damage wrought on oil refineries by Hurricane Sandy is not too serious and will not negatively affect energy markets in the long term.
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Stephen Schork, The Schork Report, discusses the impact of superstorm Sandy on oil refineries. The FMHR traders discuss.
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Alan McKim, CEO of Clean Harbors, reports cleanup crews are ready to respond.
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Will Hurricane Sandy impact oil prices? Andy Lipow, Lipow Oil Associates president, weighs in.
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Gasoline futures continued to trade higher in the electronic session Thursday as the latest track of Hurricane Sandy looked headed straight for the heart of the East Coast refining industry.
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Diesel prices remain high, and Jimmy Haslam, Pilot Flying J chairman, discusses whether this is already trickling down into the rest of the economy.
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Dave Barger, CEO of JetBlue, talks about the critical crude oil levels for the airline industry.
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Just months after Delta Air Lines purchased a troubled East-Coast oil refinery in an effort to pare its fuel costs, United Continental Holdings, the nation’s biggest carrier, appeared to be exploring a similar move, according to someone familiar with the matter.
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Saudi Arabia has offered its main customers in the US, Europe and Asia extra oil supplies through the end of the year, a sign the world’s largest exporter is worried about the impact of rising prices on the global economy. The FT reports.
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The US Department of Justice intends to prove at trial that gross negligence or willful misconduct by BP caused the 2010 Deepwater Horizon disaster in the Gulf of Mexico, government lawyers have said, in the clearest statement yet that they are seeking the maximum possible penalties from the British oil group. The FT reports.
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CNBC's Brian Shactman reports on how the shutdown of nearly all oil production in the Gulf is impacting oil prices.