Oil and Gas Oil and Gas Refining

  • BRUSSELS, Sept 30- U.S. shale gas will displace a growing portion of the world's expanding energy demand, cutting into the need for oil products from refineries, BP's head of refining economics said on Friday. Natural gas liquids from the U.S. shale boom such as ethane, an alternative to naphtha refined from crude, could feed as much as a third of demand growth in 2017,...

  • *OPEC deal can shock emerging markets accustomed to low prices. SINGAPORE/ SEOUL, Sept 29- Oil buyers from China to India remained cautious as they await details of OPEC's agreement to cut production for the first time since 2008 in order to reduce a global oversupply of crude. The group will decide how much each country will produce at the next formal OPEC meeting...

  • SINGAPORE/ SEOUL, Sept 29- Asian crude oil buyers remained cautious, eyeing details of an OPEC deal after the oil-producers group agreed for the first time since 2008 to reduce output in an oversupplied market. However, how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be...

  • Oil Asia

    The possibility of OPEC collaborating with non-OPEC members to cut output could push oil prices up, says Standard Chartered's Clive McDonnell.

  • Kilduff: Oil market is oversupplied, needs the cut

    John Kilduff, Again Capital Partner, clarifies his position on the news that OPEC has reportedly agreed to limit production in November and what effect it has had on the oil market.

  • OPEC reaches deal to limit oil production -Reuters

    According to Reuters, OPEC has reached an agreement to limit oil production in November. The "Power Lunch" crew weighs in.

  • Sept 28- U.S. crude oil stocks fell for the fourth straight week as imports dropped, while gasoline stocks increased and distillate inventories fell, the U.S. Energy Information Administration said on Wednesday. The low imports continue to drag down overall crude inventories, defying expectations of a strong rebound, "said John Kilduff, partner at New York...

  • Sept 28- U.S. crude oil stocks fell for the fourth straight week as imports dropped, while gasoline stocks increased and distillate inventories fell, the U.S. Energy Information Administration said on Wednesday. The low imports continue to drag down overall crude inventories, defying expectations of a strong rebound, "said John Kilduff, partner at New York...

  • Kilduff: OPEC meeting 'a complete farce'

    Discussing the state of the oil markets as OPEC meets informally, with Michael Cohen, Barclays Head of Energy Commodities Research, and John Kilduff, Again Capital Partner.

  • Saudi Oil Minister Khaled al-Falih at 15th International Energy Forum in Algiers on September 27. An informal OPEC meeting was held on the sidelines of the forum in Algeria.

    Kicking a production freeze deal down the road was probably the best oil bulls could hope, strategists told CNBC.

  • ORANJESTAD, Sept 27- Aruba's parliament late on Tuesday approved a law that permits the reactivation of the Caribbean island's 235,000 barrel-per-day refinery, operated by Citgo Petroleum, the U.S. unit of cash-strapped Venezuelan state oil company PDVSA. The president of Aruba's parliament, Mervin Wyatt-Ras, called it an "historic meeting" after the two-day...

  • LAUNCESTON, Australia, Sept 27- Major oil exporters clearly would like higher crude prices and may even be getting closer to some sort of coordinated action, but they should be careful what they wish for as they may choke off demand growth in top importer China. On the surface, China's appetite for imported crude has seen robust gains this year, rising 13.5 percent...

  • LAUNCESTON, Australia, Sept 27- Major oil exporters clearly would like higher crude prices and may even be getting closer to some sort of coordinated action, but they should be careful what they wish for as they may choke off demand growth in top importer China. On the surface, China's appetite for imported crude has seen robust gains this year, rising 13.5 percent...

  • OPEC Meeting

    Saudi Arabia is actually well-positioned to reduce overproduction as it is near maximum output, says Argus Media's Alejandro Barbajosa.

  • LONDON, Sept 26- Hedge funds have become increasingly bullish about the outlook for gasoline prices even as they have become more cautious the prospects for heating oil this winter. Hedge funds are net short of heating oil futures and options for the first time since April, according to position data published by the U.S. Commodity Futures Trading Commission.

  • *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...