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Oil and Gas Oil and Gas Refining

  • *JX says problems with secondary units at multiple refineries. TOKYO, Feb 20- Japan's JX Nippon Oil& Energy Corp has cut the amount of crude oil it expects to refine in February by about 4 percent from an earlier target due to unspecified problems with secondary units at multiple refineries. Industry paper Nenryo Yushi earlier reported that JX was facing problems...

  • China's state owned enterprise (SOE) reform is facing fresh questioning, the SCMP reports.

  • Feb 18- An explosion and fire at an oil refinery in Torrance, California, on Saturday forced the partial shutdown of the plant, leading oil traders to expect a spike this week in West Coast gasoline prices. Two years ago, a fire at the same plant led to its closure for several months and a sustained increase in West Coast gasoline prices for more than a year.

  • TORRANCE, Calif.— An explosion and fire erupted Saturday at a California oil refinery, exactly two years after a blast that crippled the plant and led to higher gasoline prices, authorities said. No injuries were reported from the Torrance Refining Co. near Los Angeles, and there were no evacuations or damage to any buildings outside the refinery, Assistant Fire...

  • *Oil from Nigeria, Libya and Kazakhstan gives a boost. LONDON, Feb 17- A global deal to cut oil production has had the unintended consequence of aiding Europe's older refineries by bolstering supplies of light crude while curbing shipments of the heavier grades favored by more advanced plants in other continents. "European refiners are well positioned versus...

  • *Says Dubai crude supply tightened following OPEC output cuts. SEOUL, Feb 17- SK Energy has bought Russian Urals crude for the first time in 10 years, a spokeswoman for the parent company of South Korea's top refiner said on Friday. "Dubai crude supply is tight in Asia after the OPEC cut deal, making other crude outside the region more economical," she said, adding that...

  • SINGAPORE, Feb 17- Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang. The Organization of the Petroleum Exporting Countries and other producers including Russia have agreed to cut output by almost 1.8 million barrels per day during the first half of 2017, and...

  • *OPEC, others promised to cut 1.8 million bpd in H1. *OPEC could extend or deepen cuts if global glut persists. LONDON, Feb 16- Oil prices rose on Thursday after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.

  • *OPEC, others have already promised to cut 1.8 million bpd in H1. *OPEC could extend or even deepen cuts if global glut persists. LONDON, Feb 16- Oil prices rose on Thursday after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.

  • LONDON, Feb 16- Freight movements across the United States are showing signs of sustained growth, which should help push domestic diesel consumption higher this year. The seasonally adjusted volume of freight moved by road, rail, pipeline, barge and air declined by 3.4 percent between December 2014 and March 2016, according to the U.S. Bureau of Transportation...

  • *OPEC, others have already promised to cut 1.8 million bpd in H1. *OPEC could extend or even deepen cuts if global glut persists. LONDON, Feb 16- Oil prices rose on Thursday after OPEC sources said the group could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.

  • RIYADH, Feb 16- OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non- OPEC oil producers, agreed late last year to cut output by 1.8 million barrels per day to reduce a price-sapping glut.

  • *OPEC, other exporters promise to cut 1.8 million bpd in H1. LONDON, Feb 16- Oil prices steadied on Thursday as record crude and gasoline inventories in the United States dragged on prices, though OPEC supply cuts helped to support the market. Brent crude was up 10 cents at $55.85 a barrel by 1005 GMT.

  • *OPEC, other exporters promise to cut 1.8 million bpd in H1. LONDON, Feb 16- Oil prices steadied on Thursday as record crude and gasoline inventories in the United States dragged on prices, though OPEC supply cuts helped to support the market. Brent crude was up 15 cents at $55.90 a barrel by 0920 GMT.

  • *OPEC, other producers plan to cut 1.8 million bpd in H1. SINGAPORE, Feb 16- Oil dipped on Thursday as rising fuel inventories and crude production in the United States dragged on prices although ongoing supply cuts led by producer group OPEC prevented the market from slumping further. The Organization of the Petroleum Exporting Countries and other producers...

  • *Says caused by minor leak at refinery near Melbourne. MELBOURNE, Feb 16- Viva Energy said it was repairing a minor leak on an unspecified unit at its 120,000 barrels-per-day Australian oil refinery on Thursday, after "smouldering" led to the unit being shut. Viva, controlled by energy trader Vitol, runs the refinery in Geelong, near Melbourne, supplying about 10...

  • *OPEC, other producers plan to cut 1.8 million bpd in H1. SINGAPORE, Feb 16- Oil held steady on Thursday, supported by ongoing supply cuts led by producer group OPEC, while rising fuel inventories and crude production in the United States dragged on prices. The Organization of the Petroleum Exporting Countries and other producers including Russia have agreed to...

  • Investment in oil exploration unlikely to pick up: DBS CEO

    Piyush Gupta, CEO of DBS Group, talks about the impact the oil and gas sector will have on bad debt levels at the bank.

  • SINGAPORE, Feb 16- Oil prices held steady on Thursday, supported by ongoing supply cuts led by producer group OPEC, although rising fuel inventories and crude production in the United States weighed on sentiment. Brent crude futures were trading at $55.73 per barrel at 0209 GMT, down just 2 cents from their last close. The Organization of the Petroleum Exporting...

  • Feb 15- U.S. crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the Energy Information Administration said on Wednesday. By 10:59 a.m. ET, it was trading 19 cents firmer at $53.39 a barrel. "Although this is another bearish report, we're likely to see buying interest this afternoon only to...