Oil and Gas Oil and Gas Refining

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  • ORANJESTAD, Sept 25- Aruba's Energy Ministry said on Friday it has signed a memorandum of understanding with PDVSA's U.S. unit Citgo Petroleum to explore reopening and operating the island's refinery, idled since 2012.. Attempts to reopen some of its processing units or sell it to firms including Venezuela's PDVSA and PetroChina have been unsuccessful.

  • LONDON, Sept 25- Some of Europe's struggling refineries could get an unexpected boost from Volkswagen's diesel emissions scandal if once-dominant gasoline regains its popularity. "If Europe... became more gasoline-driven it would be very good for us because we would have to export less products," Patrick de la Chevardiere, Chief Financial Officer at Total,...

  • LONDON, Sept 25- Some of Europe's struggling refineries could get an unexpected boost from Volkswagen's diesel emissions scandal if once-dominant gasoline regains its popularity. "If Europe... became more gasoline-driven it would be very good for us because we would have to export less products," Patrick de la Chevardiere, Chief Financial Officer at Total,...

  • *Strong seasonal refinery demand from China supports market. *HSBC warns that economic weakness not confined to China. SINGAPORE, Sept 25- Oil markets rose on Friday as strong seasonal demand from China outweighed weak consumer data from Japan, although analysts said that the slowing global economic outlook meant that oil prices would likely remain low for...

  • *HSBC warns that economic weakness not confined to China. *But strong seasonal refinery demand from China supports market. SINGAPORE, Sept 25- Oil markets remained subdued in early trading in Asia on Friday after weak data from Japan reinforced concerns over global economic growth, while strong seasonal demand from China helped support prices in the...

  • China plans to limit greenhouse gas emissions Thursday, 24 Sep 2015 | 11:32 PM ET
    Chinese President Xi Jinping.

    The move would be a substantial step by the world's largest polluter to reduce emissions from major industries, the NYT reports.

  • LONDON, Sept 24- Iran has postponed a crucial conference to present new oil contracts to investors in London to February 2016 from December 2015 as industry sources said Tehran was still waiting for Western sanctions to be lifted. The global oil industry has been eagerly watching Tehran's plans for the conference as Iran, OPEC's third largest oil producer,...

  • Sept 23- Refining margins in the Rockies fell the most among the five U.S. petroleum districts, by $5.53 a barrel to $36.01 in the week ended Sept. 18, Credit Suisse said in a weekly report on Wednesday. Margins in the West Coast were down $1.90 a barrel to $15.35, followed by the Gulf Coast where margins slid $1.79 a barrel to $7.74. East Coast region margins fell $1.74 a...

  • NEW YORK, Sept 23- Global oil markets tumbled on Wednesday, with U.S. crude futures settling down 4 percent after bullish impact from lower crude inventories was offset by large gasoline builds that raised concerns about high autumn fuel supplies. Brent, the global benchmark for oil, settled down $1.33, or 2.7 percent, at $47.75 a barrel. U.S. crude slumped $1.88, or...

  • Volkswagen emissions scandal dims outlook for diesel Wednesday, 23 Sep 2015 | 11:56 AM ET

    *Gasoline demand has risen in China. LONDON, Sept 23- The scandal over Volkswagen's falsification of car emissions in the United States further dims the outlook for what was once seen as the fuel of the future. The crisis at VW has turned the spotlight on concerns that have gathered momentum in recent years-- particularly in Europe where diesel is the more common car...

  • SINGAPORE, Sept 22- Crude oil prices fell on Tuesday as traders booked profits after a 3-4 percent rally in the previous session, with weak economic growth denting the demand outlook in an amply supplied market. West Texas Intermediate crude futures were at $46.07 per barrel at 0658 GMT, down 61 cents. Globally traded Brent futures were down 44 cents at $48.48 per...

  • LAUNCESTON, Australia, Sept 22-- It may seem to be stretching a rather long bow to link the overbuilding of refining capacity in Asia and the Middle East to Volkswagen's woes in the United States, but the common thread is the threat to diesel's dominance of the oil barrel. The commissioning in recent years of a slew of advanced refineries, which aim to maximise diesel...

  • *Brent premium to U.S. crude falls to below $2/ bbl. *$1.5 tln of oil projects uneconomic at $50/ bbl- Woodmac. Cushing stocks fell nearly 2 million barrels in the week to Sept. 11, the biggest draw since February 2014, U.S. government data showed.

  • MEXICO CITY, Sept 21- Mexico's state-owned oil company Pemex said on Monday that it is has extinguished a fire at its Tula refinery, the latest in a string of accidents at the company's facilities, and added the incident had not impacted output but one worker was injured. The fire occurred at a heater within the refinery's Hidros 1 plant, a so-called hydrotreater...

  • *$1.5 trln of oil projects uneconomic at $50/ bbl- Woodmac. Gasoline futures on the New York Mercantile Exchange were up about 3 percent after a fire was reported on Saturday at an unit of Husky Energy's 155,000 barrel-per-day refinery in Lima, Ohio. Cushing stocks fell nearly 2 million barrels in the week to Sept. 11, the biggest draw since February 2014, U.S....

  • MEXICO CITY, Sept 21- Mexico's state-owned oil company Pemex said on Monday that it is dealing with a fire at its Tula refinery, the latest in a string of recent accidents to hit the company's facilities, and added the incident had not impacted output but one worker was injured. The company said in a post on its Twitter page that the fire occurred at the refinery's...

  • MEXICO CITY, Sept 21- Mexico's state-owned oil company said on Monday that it is dealing with a fire at its Tula refinery, and added the incident had not impacted output but one worker was injured.

  • *$1.5 trln of oil projects uneconomic at $50/ bbl- Woodmac. Gasoline futures on the New York Mercantile Exchange surged more than 3 percent after a fire was reported Saturday at a unit of Husky Energy's 155,000 barrel-per-day refinery in Lima, Ohio. "We're seeing some crackspread action as we move towards WTI expiration and it's all contributing to the bump higher,"...

  • BEIJING, Sept 21- The Chinese government has granted two independent refiners licenses to import crude oil directly, shortly after they were allowed quotas to use imported crude oil, the Ministry of Commerce said on Monday.

  • China fuel oil imports to slow further on reforms Friday, 18 Sep 2015 | 12:31 AM ET

    *China flips to net fuel oil exports for 2nd time since 2006. China is opening its crude oil imports to buyers outside the state-owned sector, with independent refiners so far getting the go-ahead to use a total of nearly 700,000 barrels per day in crude imports, or about 11 percent of total crude shipments into the country. Small, independent refiners in China,...