Oil and Gas Oil and Gas Refining

More

  • *China's crude oil imports drop 13.4 pct in August. China's crude oil imports fell 13.4 percent in August to 26.59 million tonnes from the previous month, although underlying demand remains strong. Sechin also said that he expected China's oil demand to continue to rise in the long-term: "In 15 years, according to our estimates, China will consume 850 million...

  • U.S. crude benchmarks were at $44.60 per barrel at 0152 GMT, down $1.45 since Friday's close, weighed down by the closure of the largest crude distillation unit at Exxon Mobil Corp's 502,500 barrel-per-day Baton Rouge, Louisiana, refinery. On the supply side for oil, recent speculation that Russia might be willing to cooperate with the Organization of the...

  • HOUSTON, Sept 6- Total SA's Port Arthur, Texas, refinery is running at about half of its 225,500 barrel per day capacity as coker throughput is minimal following a fatal accident at the unit on Saturday, sources familiar with plant operations said on Sunday. A Jefferson County Sheriff's Department official said the preliminary results of an autopsy show that...

  • HOUSTON, Sept 5- Total SA reduced production at its 225,500 barrel per day Port Arthur, Texas, refinery on Saturday after a contract worker was killed when the bulldozer he was driving in a pit beneath a refining unit flipped over in petroleum coke dust and scalding water, said sources familiar with plant operations. Total and the worker's employer, Kinder Morgan...

  • HOUSTON, Sept 5- Total SA cut production at its Port Arthur, Texas, refinery on Saturday after a contract worker was killed when the bulldozer he was driving in a pit beneath a giant refining unit flipped over in petroleum coke and coarse dust, said sources familiar with plant operations. Total and the worker's employer, Kinder Morgan Inc, both confirmed the...

  • *Next year, India's palm oil imports seen up 7.5 percent. DEWAS, India, Sept 4- Rajesh Agrawal had built two large oilseed crushing mills in central India, betting on rising local consumption of edible oils. Now with Malaysian palm oil prices near 6-1/ 2 year lows, imports could rise even more, undermining Prime Minister Narendra Modi's efforts to make the country...

  • LONDON, Sept 3- U.S. crude oil stocks are set to rise in the next few months as the summer driving season ends and refineries enter the autumn turnaround season, according to many analysts and traders. Rising stocks will emphasise continuing oversupply in the oil market and are expected to put renewed downward pressure on crude oil prices before the end of the year.

  • SINGAPORE, Sept 3- Embattled commodity merchant Noble Group is expanding its Singapore oil team to focus on growing regional demand despite a price rout that has hurt some companies trading crude oil and refined products. Noble, one of Asia's biggest commodity traders, is expanding its oil desk even as it remains under pressure from a dispute that started when...

  • Brace for more oil-price weakness Wednesday, 2 Sep 2015 | 10:38 PM ET
    Brace for more oil-price weakness

    Alejandro Barbajosa, VP, Crude Middle East & Asia-Pacific at Argus Media, says crude oil prices will see further declines amid an oversupply in distillate stockpiles, which include diesel and heating oil.

  • NEW YORK, Sept 2- U.S. crude oil stockpiles rose unexpectedly last week as refinery throughput fell for a fourth week and imports jumped, while gasoline stocks fell, data from the Energy Information Administration showed on Wednesday. October crude was down $1.22 at $44.19 a barrel at 11:05 a.m. EDT, having swung from $43.71 to $46.32. Brent October crude was down...

  • China oil market reform paves way for new crude benchmark Wednesday, 2 Sep 2015 | 12:50 AM ET

    *Oil market reforms will squeeze China's state oil giants. SINGAPORE, Sept 2- China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the U.S. The long-awaited crude contract would better reflect China's growing importance in setting crude prices, as well as boost the use of the yuan in which it will be...

  • BEIJING, Sept 2- PetroChina will obey a ruling from the country's environmental watchdog ordering the state energy giant to halt construction of part of a new large refinery in southwestern China, a company official said on Wednesday. PetroChina, the country's top oil and gas producer and second-largest refiner, has been fined for violating environmental...

  • Compelling energy buys Tuesday, 1 Sep 2015 | 12:27 PM ET
    Compelling energy buys

    How to get a piece of the energy plunge, with the FMHR traders.

  • The oil tank cars- a year ago sought-after to haul crude from North Dakota to New Jersey- now stand idle as a result of two converging trends: the reversal in U.S. shale oil production and the completion of new pipelines. Big rail lines, such as Berkshire Hathaway- owned BNSF Railways or Union Pacific are losing what used to be their fastest-growing source of new...

  • A natural gas production platform.

    Italian energy group Eni said it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast.

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- World oil prices roared back to $50 a barrel in the second day of a frenetic short-covering rally on Friday, with violence in Yemen, a storm in the Gulf and refinery outages helping extend the biggest two-day rally in six years. Warplanes from a Saudi-led coalition killed 10 people in air...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil. "A severely oversold and shorted oil market is creating a bid for covering...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped as much as 7 percent on Friday as a rally in gasoline prices from refinery outages and concern about strife in Yemen prompted traders to scramble for a second day to cover short positions. U.S. crude's front-month was up $2.25, or 5.3 percent, at $44.81 a barrel by 1:46 p.m....

  • *Gasoline rally, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped 6 percent on Friday as a rally in gasoline prices and air raids in Yemen prompted traders to scramble for a second day to cover short positions, while market players also kept an eye on a storm that appeared to be approaching the oil-rich U.S. U.S. crude's front-month was up...

  • NEW YORK, Aug 28- The short-covering frenzy in global oil markets extended for a second straight day on Friday, pushing U.S. crude up as much as 5 percent in morning trade, getting extra support from a rally in gasoline futures, before both began consolidating. "A severely oversold and shorted oil market is creating a bid for covering in U.S. crude," said Chris Jarvis,...