A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.» Read More
The U.S. Bureau of Ocean Energy Management announced Friday it is opening a 45- day comment period both to gather information on areas in the Beaufort Sea that have the most promising oil and gas potential, and to learn more about environmentally sensitive habitats and subsistence activities within the planning area.
HOUSTON, July 25- Exxon Mobil Corp is considering a multibillion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S. shale oil boom, people with knowledge of the deliberations said.
CALGARY, Alberta, July 25- Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska, a World Wildlife Fund study showed on Friday. The remote Beaufort Sea is a section of the Arctic Ocean that spans the Canada- U.S. border.
*Europe has 2 million bpd excess oil refining capacity. LONDON, July 23- Europe is coming under increasing pressure to close oil refineries as chronic over-capacity hits processing margins, dragging down group profits and hitting share prices.
The city of 25,000, known for its scenic lighthouses and sweeping views of the island-speckled waters of Casco Bay, is also the east coast's second largest oil port, located at the southern terminus of the Portland-Montreal Pipeline, which currently flows north to Canada.
LONDON, July 18- Royal Dutch Shell has suspended development of a liquefaction unit at Canada's Jumping Pound facility, which was to be used to develop the emerging gas for transport market.
*CNOOC in pre-feasibility study of FLNG technology. BEIJING, July 17- Chinese energy giant CNOOC Group is studying the possibility of building a multi-billion-dollar floating liquefied natural gas vessel, as-yet untried technology that would likely be used to produce gas from the deep waters of the South China Sea.
July 15- Royal Dutch Shell Plc said on Tuesday it had found roughly 100 million barrels of oil equivalent in the Gulf of Mexico' s Norphlet formation, its third discovery there. The company, the gulf's largest operator, found the oil near its Rydberg well, roughly 75 miles off the Louisiana coast.
NEW YORK, July 14- A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.
*Sasol, Eni to study building plant in Mozambique. The company has seen costs overrun at its flagship Qatar plant, cancelled a U.S. project and is relying on a favourable link between prices for feedstock natural gas and oil- factors which have jangled the nerves of some investors in Royal Dutch Shell.
*EU price premium over North America down 77 pct this year. Asian spot prices have also come off sharply this year, shedding over 40 percent in value as demand growth slowed and new supplies in the Pacific region became available, although prices remain almost twice as high as in Britain and around three times as expensive as in North America.
*Sasol, Eni to study building plant in Mozambique. The company has seen costs overrun at its flagship Qatar plant, cancelled a U.S. project and is relying on a favourable link between prices for feedstock natural and oil- factors which have jangled the nerves of some investors in Royal Dutch Shell.
PARIS, July 8- Europe should stop thinking about cutting its dependence on Russian gas and focus instead on making those deliveries safer, including options to bypass Ukraine, the head of French oil major Total told Reuters.
*OPEC output back below supply target of 30 million bpd. The slight decline underlines how unrest and outages in the Middle East and Africa are taking their toll on OPEC supply, just as the International Energy Agency is highlighting a greater need for OPEC oil in the rest of the year. 1/ 8 D: nL5N0OU1KF 3/ 8.
BRASILIA, June 24- Brazil plans to sign over additional production rights to four fields that hold an estimated 10 billion to 14 billion barrels of oil directly to Petrobras, the National Energy Policy Council said on Tuesday, extending the state-run company's existing rights in the fields off the southeast coast.
*Siemens CEO earns praise for shrewd moves in Alstom battle. On Friday, the French government announced it had chosen U.S. conglomerate General Electric over Siemens and its bidding partner Mitsubishi Heavy Industries in the contest to acquire the energy assets of Alstom.
*Citigroup and J.P. Morgan underwriters to IPO. London- based VTTI listed Citigroup and J.P. Morgan as lead underwriters to its IPO.
*Rolls Royce top riser after buyback. EDINBURGH, June 19- European shares rose in early deals on Thursday, boosted after the Federal Reserve said the U.S. economy was making progress and committed to retaining accommodative monetary policy over the long term.
*Euro STOXX 50 closes up 0.1 pct at 3,279.20 points. *Credit Suisse upgrades energy equity sector to "benchmark". LONDON, June 18- European stock markets were steady on Wednesday, hovering near multi-year highs reached last week and supported by shares in major energy companies as violence in Iraq pushed up oil prices.
European shares closed flat on Wednesday, as investors awaited the Federal Reserve's policy decision.