Oil and Gas Oil and Gas Refining

  • *Arbitrage to Asia emerges with Brent-WTI spread over $3/ bl. *Argus launches new indexes for U.S. crude delivered to Asia. SINGAPORE, Sept 23- Asia's oil refiners can choose from a sprawling buffet of over 300 crudes from every continent except Antarctica as a combination of cheap freight and rising supplies leaves buyers overwhelmed by the variety of oil grades...

  • CARACAS, Sept 22- Venezuelan state oil company PDVSA on Thursday said its lease of Curacao's Isla refinery was not up for negotiations yet, days after the island announced a preliminary deal with China's Guangdong Zhenrong Energy to operate the complex. Curacao's government said on Monday it has signed a preliminary agreement with Guangdong Zhenrong Energy...

  • *Oman shipments at 837,396 mln bpd, up 37.9 pct. BEIJING, Sept 22- Russia reclaimed the top spot as China's largest crude oil exporter in August from Angola, customs data showed on Wednesday, reflecting stockpile building and increasing demand from independent refiners during the month. Russia was the biggest Chinese supplier for the first time since May after...

  • *Norway strike threatens North Sea crude output. NEW YORK, Sept 21- Oil prices rose as much as 3 percent on Wednesday after a third surprise weekly drop in U.S. crude stockpiles boosted the demand outlook in the world's largest oil consumer. Another supportive factor was an oil workers' strike in Norway, which threatened to cut North Sea crude output.

  • *Norway strike threatens North Sea crude output. A weaker dollar after the Federal Reserve's decision to leave U.S. interest rates unchanged and an oil workers' strike in Norway that threatened to cut North Sea crude output further boosted oil. Crude stocks in the United States, the world's largest oil consumer, have slumped since 14.5 million barrels were drawn...

  • Oil was also supported by a strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a Federal Reserve policy announcement at 2:00 p.m. EDT, where the central bank was expected to keep U.S. interest rates unchanged. Crude stocks in the United States, the world's largest oil consumer, have slumped since 14.5 million barrels were...

  • NEW YORK, Sept 21- Drivers from Tennessee and Georgia to New Jersey may soon breathe a collective sigh of relief as service is restored on Colonial Pipeline, cutting gasoline prices that have surged following a leak on the key line. Still, the 12- day disruption on Colonial, the main artery that flows about 1.3 million barrels per day of fuel from the refining hub on...

  • Oil was also supported by an industry strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a Federal Reserve policy announcement at 2:00 p.m. EDT, where the central bank was expected to keep U.S. interest rates unchanged. Crude stocks in the United States, the world's largest oil consumer, have fallen since 14.5 million...

  • Oil was also supported by an industry strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a Federal Reserve policy announcement at 2:00 p.m. EDT, where the central bank was expected to keep U.S. interest rates unchanged. Crude stocks in the United States, the world's largest oil consumer, have fallen since 14.5 million...

  • Sept 21- U.S. crude oil inventories fell sharply last week, the third consecutive week of unexpected declines, while gasoline stocks decreased nationwide but posted record builds on the Gulf Coast amid the shutdown of a key pipeline, data from the Energy Information Administration showed on Wednesday. Gulf Coast gasoline inventories, however, rose 4.8 million...

  • The U.S. Energy Information Administration said domestic crude inventories fell by 6.2 million barrels for the week ended Sept. 16, versus a 3.4 million-barrel drop forecast by oil market analysts polled by Reuters. While the draws have put a bullish face of sorts on oil, they also contrast with surging production from OPEC and other major producers such as...

  • HOUSTON, Sept 20- Citgo Petroleum, aiming to start a $685 million renovation project to revive Aruba's idled refinery, has asked its cash-strapped parent company PDVSA to provide initial funding of $100 million, according to an internal document seen by Reuters. The importance of Aruba as a facility to be used by PDVSA and its subsidiaries has increased in...

  • HOUSTON, Sept 20- Citgo Petroleum, aiming to start a $685 million renovation project to revive Aruba's idled refinery, has asked its cash-strapped parent company PDVSA to provide initial funding of $100 million, according to an internal document seen by Reuters. The importance of Aruba as a facility to be used by PDVSA and its subsidiaries has increased in...

  • HOUSTON, Sept 20- Citgo Petroleum, aiming to start a $685 million renovation project to revive Aruba's idled refinery, has asked its cash-strapped parent company PDVSA to provide initial funding of $100 million, according to an internal document seen by Reuters.

  • TORRANCE, Calif.— Southern California Edison was investigating Tuesday the cause of a widespread power outage that forced the shutdown of a major Los Angeles County refinery and raised concerns that gasoline prices in the region may temporarily go up. The utility said more than 57,000 customers lost power before dawn Monday in Gardena, Hawthorne, Inglewood...

  • ABU DHABI, Sept 19- Saudi Arabia's oil exports rose in July as the kingdom pumped record high levels of crude, keeping the global market well supplied. Saudi Arabia's crude oil exports in July rose to 7.622 million barrels per day from 7.456 million bpd in June, official data showed on Monday. In the past, analysts have persistently discounted the possibility that...

  • RIO DE JANEIRO, Sept 19- Brazil's heavily indebted state-led oil company Petrobras will likely cut planned investment by about a sixth and its 2020 output goal by 14 percent under a five-year strategic plan that could be released as early as Monday after markets close, according to analysts. "This plan is very important for setting expectations at a company that...

  • SINGAPORE, Sept 19- Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non- OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Venezuelan President Nicolas Maduro said on Sunday that a deal between OPEC and non- OPEC countries...

  • *Iran oil exports near pre-sanctions level- source. NEW YORK, Sept 16- Crude oil prices fell 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures settled down 82 cents, or 1.8 percent, at $45.77 a barrel, hitting a two-week bottom of $45.48.

  • *Iran oil exports near pre-sanctions level- source. NEW YORK, Sept 16- Crude oil prices fell by up to 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures settled down 82 cents, or 1.8 percent, at $45.77 a barrel, hitting a two-week bottom of...