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Oil and Gas Storage

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  • TRIPOLI, Dec 29- Libya's recognized government has contracted a U.S. firefighter firm to help extinguish fires at storage tanks at the Es Sider oil port, a spokesman said on Monday. The value of the contract was $6 million, the statement said, without naming the company. Fire has been raging for days at several storage tanks at Es Sider, Libya's biggest oil port, due to...

  • SINGAPORE Dec 29- U.S. crude rose more than $1 in early Asian trade on Monday, reversing a fall in the previous session as escalating clashes in Libya threatened oil exports and supply disruptions from the OPEC member. Forces loyal to Libya's recognised government launched air strikes on the western city of Misrata on Sunday in apparent retaliation against a...

  • UPDATE 1-Libya fighting destroys two days oil supply Sunday, 28 Dec 2014 | 10:08 AM ET

    BENGHAZI, Libya, Dec 28- A fire caused by fighting at one of Libya's main export terminals has destroyed more than two days of the country's oil production, officials said on Sunday, as clashes escalated between factions battling for control of the OPEC member nation. A missile hit an oil storage tank last week at the port of Es Sider during fighting between forces...

  • SEOUL, Dec 26- U.S. oil rose above $56 a barrel in early trade on Friday after news that a rocket hit a storage tank at Libya's biggest oil port, but prices were on track for a fifth weekly drop with data showing a surprise build in crude stocks in the United States. *U.S. crude's front-month contract for February delivery gained 37 cents a barrel at $56.21 as of 0032 GMT,...

  • Dec 22- Canada's Encana Corp will sell some natural gas gathering and compression facilities in British Columbia it owns jointly with a unit of Mitsubishi Corp to Veresen Midstream LP. Veresen Midstream will provide gathering and compression services to Encana and Cutbank Ridge Partnership, its partnership with a Mitsubishi unit, for a fee.

  • LONDON, Dec 15- The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83,000 a day- helped by a drop in shipping fuel bunker prices. Herbjorn Hansson, chairman and chief...

  • 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.

  • OMISALJ, Croatia, Dec 10- Spurred by the demise of Russia's South Stream gas pipeline project, Croatia has revived a decade-old idea of building a liquefied natural gas import terminal at the deepwater oil port of Omisalj on the island of Krk. But the Ukraine crisis and the collapse of South Stream have refocused minds in central and eastern European nations on...

  • BISMARCK, N.D., Dec 9- North Dakota has approved strict new standards for oil, requiring every barrel of crude be filtered for dangerous types of natural gas in order to make crude-by-rail transport safer. The new requirements come as federal, state and local officials grapple with how best to ensure the safe transport of North Dakota's crude oil, which has been...

  • *Lithuania to import LNG to cut dependence on Russian gas. *Needs access to Latvia storage site to balance flows. But contracts providing third parties with access to the Incukalns underground gas storage site in Latvia are not transparent, which is hindering the emergence of a market, Lithuanian LNG importer Litgas said.

  • 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...

  • LAUNCESTON, Australia, Nov 26- China has done two surprising things in oil markets recently; pledging to be more open about its strategic stockpiling and buying crude very openly in the daily trading window in Singapore. Since 2009, China has tended to boost crude purchases when it judges prices to be cheap on a relative basis. The bulk of these extra purchases...

  • US Air Force cleared to purchase civilian jet fuel Wednesday, 19 Nov 2014 | 2:16 PM ET
    A KC-135 Stratotanker from Fairchild Air Force Base, Wash., refuels a B-1B Lancer during a training exercise Sept. 23, 2014, over South Dakota.

    The US Air Force just completed an initiative to convert all of its bases from military-specific grade jet fuel to a civilian grade.

  • With energy boom, Philly becomes the new Houston Sunday, 16 Nov 2014 | 9:00 AM ET
    The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

    Philadelphia is developing a new reputation as a nexus of oil and gas transportation, which bodes well for its economy.

  • LONDON/ PARIS, Nov 3- European equities retreated from a four-week high on Monday, with a survey showing sluggish euro zone factory growth hurting market sentiment and gas transport group Snam leading the utilities sector lower following a gas storage ruling. The European utilities index fell 1.7 percent, the top sectoral decliner, on an 11 percent drop in Snam...

  • HOUSTON, Oct 31- Tesoro Corp doesn't expect to add stabilizers that remove flammable natural gas liquids from crude in North Dakota's prolific Bakken shale, where the company is expanding its pipeline infrastructure, Chief Executive Officer Greg Goff said on Friday. North Dakota plans to issue new rules for the treatment of crude on Nov. 13 to address the...

  • HOUSTON, Oct 29- U.S. refiner Phillips 66 said on Wednesday its third-quarter net profit more than doubled to $1.14 billion as margins benefited from the North American onshore oil boom. Earnings per share after certain items were $2.02, up from $0.85 a share in the year earlier period. Although profits at the company's chemical, midstream, and marketing units...

  • Oct 28- Shell Midstream Partners LP, a master limited partnership formed by Royal Dutch Shell Plc, priced its enlarged initial public offering of 40 million units at $23 per unit, above its expected price range of $19- $21 per unit. Shell Midstream owns stakes in four onshore and offshore pipelines in Texas and Louisiana. This includes a 43 percent stake in a crude...

  • NEW YORK, Oct 14- Kinder Morgan Energy Partners, L.P. said it will add 2.1 million barrels of storage at its Pasadena and Galena Park terminals just outside Houston. The $210 million project- supported by long-term contracts with existing customers- will also include the construction of a new ship dock and other improvements at the Galena Park terminal that will...