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Oil and Gas Refining

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  • NEW YORK, April 30- U.S. Expiring front-month May RBOB rose 3.18 cents to settle and go off the board at $2.0497 a gallon, having reached $2.0556 intraday. The U.S. average retail price for regular gasoline increased 9 cents to $2.57 per gallon in the week to April 27, according to the Energy Information Administration.

  • Canadian Oil Sands posts loss, says cost cut paying off Thursday, 30 Apr 2015 | 4:50 PM ET

    CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The other Syncrude partners are Imperial Oil Ltd; Mocal Energy; Murphy Oil Corp; Nexen, a wholly owned subsidiary of China's CNOOC Ltd; Sinopec and Suncor...

  • April 30- Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, on Thursday reported a 55 percent fall in quarterly profit as global crude prices halved. Imperial Oil Chief Executive Rich Kruger said the company, which is 69.6 percent owned by Exxon Mobil Corp, would maintain a cautious spending outlook in the months to come. The company is close to...

  • April 29- Suncor Energy Inc, Canada's largest oil and gas company, reported a loss on Wednesday as oil prices tumbled by half and a foreign exchange loss outweighed higher production. Operating earnings, which exclude one-time items like the C $940 million foreign exchange loss on the value of the company's U.S.-dollar denominated debt, fell sharply to C $175...

  • NEW YORK, April 29- U.S. crude inventories rose last week to hit a record high for the 16th straight week but the build was smaller than expected as supplies at the Cushing, Oklahoma, oil hub declined for the first time since November, data from the Energy Information Administration showed on Wednesday. Crude stocks at Cushing, the delivery point for U.S. crude...

  • LONDON/ PARIS, April 28- BP and Total reported higher than expected profits on Tuesday thanks to steep increases in profits from refining, showing the resilience of global oil firms in the face of slumping oil prices. At Europe's largest refiner Total, adjusted net operating income from refining and chemicals more than tripled from the first quarter last year to...

  • April 28- Fair and stable oil prices will benefit producers and consumers, allowing global supply and demand to grow at a steady pace, Saudi Arabia's Oil Minister Ali al-Naimi said on Tuesday. The slide in oil prices since the middle of last year deepened after Saudi Arabia and other OPEC nations refused to cut production in November in a bid to maintain market...

  • *Saudi Arabia tells China ready to supply more oil if needed. NEW YORK, April 27- Crude settled lower on Monday as ample global supply blunted support from the conflict in Yemen and the falling number of U.S. rigs drilling for oil and kept traders cautious after prices reached 2015 peaks last week. "While the situation in Yemen and the falling U.S. rig count have...

  • LISBON, April 27- Portugal's Galp Energia said adjusted first-quarter net profit more than doubled from a year earlier, in line with expectations, thanks to a sharp increase in refining margins and rising oil output. In his first news briefing as chief executive, Carlos Gomes da Silva also said Shell's acquisition of BG Group, which is Galp's partner in some...

  • MINSK, April 27- Belarussian state company Belneftekhim said on Monday oil exports and supplies to refineries were not affected by a problem with the Druzhba pipeline.

  • CALGARY, Alberta, April 24- TransCanada Corp, whose controversial Keystone XL pipeline project has waited more than six years for U.S. approvals, is asking the Obama administration to approve another pipeline, one that would take American crude oil into Canada. The company, Canada's No. 2 pipeline operator, said it applied on Wednesday for a presidential permit...

  • CALGARY, Alberta, April 24- TransCanada Corp, whose controversial Keystone XL pipeline project has waited more than six years for U.S. approvals, is asking the Obama administration to approve another pipeline, one that would take American crude oil into Canada. The company, Canada's No. 2 pipeline operator, said it applied on Wednesday for a presidential permit...

  • *Current crude output at 2.85 mln bpd, says PDVSA head Del Pino. *Venezuela pins hopes on Orinoco Belt heavy-crude area. ORINOCO BELT, Venezuela, April 20- OPEC member Venezuela is currently exporting between 2.4-2.5 million barrels per day from national crude production of around 2.85 million, the head of state oil company PDVSA said.

  • SEOUL, April 20- South Korean oil refiners are taking more crude from Latin America and Europe and buying more spot volumes to put pressure on Middle Eastern suppliers to lower their official prices. And with South Korea expanding such trade deals, including one already signed with oil producer Colombia and one sought with Ecuador, the purchases from other...

  • ORINOCO BELT, Venezuela, April 19- Venezuela has launched talks this month on a novel plan to blend the country's heavy crude with light oil from other OPEC allies, seeking to create a new variety that can compete against swelling U.S. and Canadian supplies. Del Pino said he raised the idea during the Summit of the Americas in Panama earlier this month and at a...

  • ORINOCO OIL BELT, Venezuela, April 19- V enezuela's PDVSA is selling about $50 million a month at a new advantageous foreign exchange rate, while joint ventures with foreign partners are putting in a further $25- 30 million a month via the Simadi system, the state oil company's head said. The government created Simadi in February as a third tier in Venezuela's...

  • JERUSALEM, April 19- The mayor of Haifa ordered on Sunday the closure of plants run by Israel's largest refining and petrochemicals group, Oil Refineries, following a report showing high cancer rates in the port city. Oil Refineries said its operating licence and that of a number of its subsidiaries had been cancelled in Israel's third largest city, which is...

  • SAN FRANCISCO, April 17- Conservation groups filed a lawsuit against California on Friday, saying the state did not adequately consider environmental factors when it approved a 30- year lease last month for a marine terminal at Tesoro Corp's refinery near San Francisco Bay. The Center for Biological Diversity and Communities for a Better Environment said...

  • HOUSTON, April 16- Striking workers at the Marathon Petroleum Corp's Galveston Bay refinery in Texas City, Texas, rejected the company's "last, best and final" contract offer, according to a union official representing the workers. In rejecting the offer, the United Steelworkers told Marathon it was willing to resume negotiations on Monday in an effort to end the...

  • SINGAPORE, April 17- U.S. crude futures slipped towards $56 a barrel on Friday as soaring oil production from OPEC members stoked concerns over a global glut, but Middle East tensions kept a floor under prices. It climbed 32 cents to settle at $56.71 the day before, after hitting a 2015- high of $57.42. *Russian President Vladimir Putin said Iran's flexibility over...