Oil and Gas Oil and Gas Refining

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  • July 26- U.S. refiner Valero Energy Corp's quarterly profit fell nearly 40 percent due to lower refining margins as elevated gasoline stockpiles offset healthy demand. Net income attributable to shareholders fell to $814 million, or $1.73 per share, in the second quarter ended June 30 from $1.35 billion, or $2.66 per share, a year earlier. Operating revenue fell...

  • Crude Oil

    JPMorgan's Scott Darling explains that the oil supply glut is expected to remain an issue due to moderating global growth.

  • But China and India appear to have crashed that party. And here the main culprits are China and India, both of which have significantly ramped up exports of gasoline in the first six months of 2016.. China exported 4.449 million tonnes, or about 207,800 barrels per day, of gasoline in the first half, a 75 percent increase on the same period last year, according to...

  • But China and India appear to have crashed that party. And here the main culprits are China and India, both of which have significantly ramped up exports of gasoline in the first six months of 2016.. China exported 4.449 million tonnes, or about 207,800 barrels per day, of gasoline in the first half, a 75 percent increase on the same period last year, according to...

  • NEW YORK, July 22- Oil prices settled lower on Friday, losing 4 percent on the week, after the fourth weekly rise in the U.S. oil rig count added to worries about a global crude glut. More than ample inventories and upcoming refinery turnarounds and maintenance have the bulls on the defensive, "said Pete Donovan, broker at Liquidity Energy in New York.

  • WARRI, Nigeria— The force majeure— or freedom from contractual obligations because of extraordinary circumstances— declared by ExxonMobil on Nigeria's largest crude stream could last a month because of extensive damage to its 300,000 barrel-a-day Qua Iboe export terminal, workers of the U.S.-based oil giant told The Associated Press on Friday.

  • NEW YORK, July 22- Oil prices fell 2 percent on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows. More than ample inventories and upcoming refinery turnarounds and maintenance have the bulls on the defensive, "said Pete Donovan, broker at Liquidity...

  • NEW YORK, July 22- Oil prices fell 2 percent on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows. More than ample inventories and upcoming refinery turnarounds and maintenance have the bulls on the defensive, "said Pete Donovan, broker at Liquidity...

  • NEW YORK, July 22- U.S. independent refiners such as Valero Energy Corp and Phillips 66 look set to post another quarter of disappointing earnings, putting the industry on track for its worst year since the U.S. shale boom began in 2011.. High volumes of imports, combined with refiners switching to maximum gasoline output earlier than usual, resulted in...

  • LONDON, July 21- Fears that U.S. refiners will cut crude processing in response to deteriorating margins and rising gasoline stocks have haunted the oil market for the past two months. U.S. refiners processed an average of 16.7 million barrels of crude per day in the last four weeks, unchanged from the same period in 2015, according to the U.S. Energy Information...

  • LONDON, July 21- Fears that U.S. refiners will cut crude processing in response to deteriorating margins and rising gasoline stocks have haunted the oil market for the past two months. U.S. refiners processed an average of 16.7 million barrels of crude per day in the last four weeks, unchanged from the same period in 2015, according to the U.S. Energy Information...

  • TOKYO, July 21- Crude oil prices rose on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although a surprise build in gasoline supplies helped to cap the gains. West Texas Intermediate crude for September delivery, the new front month contract from Thursday, was up 22 cents at $45.97 a barrel at 0701 GMT.

  • TOKYO, July 21- Crude oil prices rose on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although a surprise build in gasoline supplies helped to cap the gains. West Texas Intermediate crude for September delivery, the new front month contract from Thursday, was up 18 cents at $45.93 a barrel at 0042 GMT.

  • TOKYO, July 21- Crude oil prices edged up in early Asian trading on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks but a surprise build in gasoline supplies. West Texas Intermediate crude for September delivery, the new front month contract from Thursday, was up 2 cents at $45.77 a barrel at 0102 GMT.

  • Bangchak Petroleum

    Bangchak Petroleum President Chaiwat Kovavisarach explains the firm's decision to expand its renewable energy business through its subsidiary BCPG.

  • NEW YORK, July 20- Oil prices rose as much as 1 percent on Wednesday, lifting U.S. crude from two-month lows, after the U.S. government reported a ninth straight week of crude inventory draws, easing some concerns in a market worried about a glut. U.S. gasoline prices, however, hit four-month lows after the data from the U.S. Energy Information Administration also...

  • NEW YORK, July 20- Oil prices rose 1 percent on Wednesday, lifting U.S. crude from two-month lows, after the U.S. government reported a ninth straight week of crude inventory draws, easing some concerns in a market worried about a fuel glut. U.S. gasoline prices, however, hit four-month lows after the data from the U.S. Energy Information Administration also showed a...

  • NEW YORK, July 20- Oil prices rose on Wednesday, with U.S. crude rebounding from two-month lows, after the U.S. government reported a ninth straight week of crude inventory declines that came within expectations in a market worried about a fuels glut. U.S. gasoline prices, however, extended losses, hitting a four-month low after the data from the U.S. Energy...

  • NEW YORK, July 20- Crude oil stocks in the United States fell for the ninth consecutive week and gasoline stockpiles posted a surprise build last week, data from the U.S. Energy Information Administration showed on Wednesday. Crude inventories fell 2.3 million barrels in the week ending July 15, data from the statistical arm of the Energy Department showed,...

  • NEW YORK, July 20- Crude oil stocks in the United States fell for the ninth consecutive week and gasoline stockpiles posted a surprise build last week, data from the U.S. Energy Information Administration showed on Wednesday. Crude inventories fell 2.3 million barrels in the week ending July 15, data from the statistical arm of the Energy Department showed,...