Oil and Gas Oil and Gas Refining

  • International benchmark Brent futures were trading at $50.50 per barrel at 0840 GMT, down 39 cents from their last close. West Texas Intermediate crude futures were down 20 cents at $48.02 a barrel after reaching $48.75, their highest since July 5. Iraq has resumed pumping oil from fields operated by the state-run North Oil Company via a Kurdish pipeline to...

  • HOUSTON, Aug 18- Swiss commodity trader Vitol SA criticized Exxon Mobil Corp this week for failing to be transparent about maintenance at its Los Angeles refinery following a February 2015 blast, which contributed to tighter gasoline supplies and higher prices. Speaking before a committee of the California Energy Commission on Tuesday, Brad Lucas, a West...

  • *Saudis output seen at new record high despite OPEC overtures. NEW YORK, Aug 17- Oil's near week-long rally was under pressure on Wednesday after an unexpected drawdown in U.S. crude and gasoline stocks was offset by worries that Saudi Arabia was cranking output to record highs even as OPEC talked of ways to ease a global glut. West Texas Intermediate crude futures...

  • NEW YORK, Aug 17- Oil's near week-long rally sputtered on Wednesday as players weighed up the market after a surprise drawdown in U.S. crude and gasoline inventories was offset by worries Saudi Arabia was cranking output to record highs even as OPEC talked of ways to ease a glut. Reports of refinery outages in the United States, including that of a crude unit at...

  • *OPEC, other producers to meet next month. Brent crude futures were trading at $48.92 per barrel at 0158 GMT, down 31 cents from their last settlement. The Organization of the Petroleum Exporting Countries will probably revive talks on freezing oil output levels when it meets non- OPEC nations next month, with sources citing Saudi Arabia's wish for higher prices.

  • SANTIAGO, Aug 16- The cost of energy in Chile is likely to fall in the next decade, as an auction aimed at providing around a third of the copper exporter's energy needs had attracted bids priced more competitively than forecast, the energy minister said. But the offers ensured that energy prices would be "well below" $60 per megawatt-hour, less than half the cost of...

  • Production losses in Nigeria, where more than 700,000 barrels per day was missing due to militant attacks and pipeline problems, also helped to support prices. They were trading at $48.45 per barrel at 1422 GMT, up 10 cents from their last close. West Texas Intermediate crude reached $46.21 per barrel, its highest since July 15, before easing to $45.94, up 20 cents...

  • Oil production losses in Nigeria, where more than 700,000 barrels per day was missing due to militant attacks and pipeline problems, were also helping to support prices in the Atlantic Basin. They were trading at $48.59 per barrel at 1042 GMT, up 24 cents from their last close, and around 17 percent higher than the $41.51 low for the month on Aug. 2.

  • NEW YORK, Aug 12- Oil rose about 2 percent on Friday, clinching its biggest weekly gains since April, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. U.S. crude settled up $1 at $44.49 after touching its highest level since July 22 at $44.60 per barrel.

  • NEW YORK, Aug 12- Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. Brent crude futures were 56 cents higher at $46.60 at barrel by 1:16 p.m. ET after...

  • NEW YORK, Aug 12- Oil prices rose about 2 percent on Friday, on track for their biggest weekly gains since late April, amid a short covering rally triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market. Brent crude futures were 84 cents higher at $46.88 at barrel by 12:30 p.m. ET after...

  • *China crude oil production slips 8 pct to five-year low. Brent crude futures were 39 cents a barrel higher at $46.43 a barrel, a 0.9 percent gain, by 10:54 a.m. ET, up from a three-week high of $46.66 earlier in the day. West Texas Intermediate crude rose 50 cents to $43.99 after touching its highest level since July 25 at $44.17 per barrel.

  • Carl Icahn

    Through his company CVR Energy, Icahn is preparing a bid for a Brentwood, Tennessee-based refiner, according to a report.

  • *East& West Coast refiners may import more foreign crude. NEW YORK/ HOUSTON, Aug 12- It may seem odd that the opening of one pipeline crossing through four U.S. Gulf Coast refiners and North Dakota oil producers will reap the benefits.

  • Brent crude futures were down 19 cents a barrel higher at $45.84 per barrel by 1000 GMT, from a three-week high of $46.66 earlier in the day. West Texas Intermediate crude stood at $43.41 a barrel, down 8 cents after touching its highest level since July 25, at $44.17 per barrel. Both price benchmarks rose more than 4 percent on Thursday after Saudi Arabia's energy...

  • Brent crude futures were trading 1 cent a barrel higher at $46.05 per barrel by 1000 GMT, from a three-week high of $46.66 earlier in the day. West Texas Intermediate crude stood at $43.61 a barrel, up 5 cents after touching its highest level since July 25, at $44.17 per barrel. Both price benchmarks rose more than 4 percent on Thursday after Saudi Arabia's energy...

  • SINGAPORE, Aug 12- Best known for diving, lagoons and the island that gave the world the name for the bikini swimsuit, the Marshall Islands is now gaining attention as a top-five destination for U.S. crude exports despite the lack of a refinery to process the oil. The shipments to the Marshall Islands, a tiny atoll nation in the middle of the Pacific Ocean, are a quirk of...

  • Brent crude futures were trading at $46.12 per barrel by 0645 GMT, receeding from a three-week high of $46.66 earlier in the day, though still up 8 cents from their last close. West Texas Intermediate crude stood at $43.70 a barrel, up 21 cents after touching its highest since July 25, at $44.17 per barrel. Markets were pushed up as Saudi Arabia's energy minister...

  • International Brent crude oil futures were trading at $46.40 per barrel at 0536 GMT, up 36 cents, or 0.8 percent, and earlier hitting a three-week high at $46.66. West Texas Intermediate crude futures were at $43.98 a barrel, up 49 cents, or 1.1 percent, and touching their highest since July 25 at $44.17. Markets were pushed up as Saudi Arabia's energy minister Khalid...

  • *July daily oil production fell to lowest since October 2011. BEIJING, Aug 12- China's crude oil production in July fell 8.1 percent from a year ago to the lowest since October 2011 on a daily basis, as low prices limit the incentive to keep some wells operating in the world's fourth-largest oil producer. Crude output last month was 16.72 million tonnes in July, data...