×

Oil and Gas Oil and Gas Refining

  • BEIJING/ PRAGUE, Jan 13- Inside four years, CEFC China Energy has emerged from relative obscurity as a niche fuel trader to become a rapidly growing oil and finance conglomerate with assets across the world and an ambition to become one of China's energy giants. It has a rare contract to store part of the nation's strategic oil reserve, gained financing from the...

  • MEXICO CITY, Jan 12- An accident at the Ciudad Madero refinery of Mexican state-owned oil firm Pemex killed one worker on Thursday, but the incident will not affect production, a company representative said. Pemex said that three workers were exposed to hydrogen sulfide released during maintenance of one of the refinery's diesel plants. The Madero plant, the...

  • MEXICO CITY, Jan 12- An accident at the Ciudad Madero refinery of Mexican state-owned oil firm Pemex killed one worker on Thursday, but the incident will not affect production, a company spokesperson said. The company did not specify what caused the accident or the death of the worker. The Madero plant, the smallest of Pemex's six domestic refineries, is near the...

  • LONDON, Jan 12- Oil prices rose on Thursday, supported by signs OPEC is starting to cut output and expectations of strong demand growth in China, but rising U.S. crude inventories reinforced concerns over plentiful global supplies. Several OPEC members appear to be implementing the deal. "Reports are emerging that OPEC signatories to the production cut...

  • *China's oil demand to hit record, fueled by soaring car sales. SINGAPORE, Jan 12- Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies. Reflecting China's growing fuel...

  • *China's oil demand to hit record, fueled by soaring car sales. SINGAPORE, Jan 12- Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies. Reflecting China's growing fuel...

  • SINGAPORE, Jan 12- Oil prices dipped on Thursday on the back of rising U.S. crude inventories and plentiful supplies, despite emerging output cuts from OPEC and other producers. West Texas Intermediate crude oil futures were trading at $52.18 a barrel at 0141 GMT, down 7 cents from their last settlement. Prices for Brent crude futures, the international benchmark...

  • SINGAPORE, Jan 12- Oil prices were steady early on Thursday after U.S. crude and refined product stocks sent mixed messages to the market, with ongoing uncertainty over OPEC compliance with planned output reductions also in focus. West Texas Intermediate crude oil futures were trading at $52.24 a barrel at 0040 GMT, virtually unchanged from their last...

  • Crude inventories rose 4.1 million barrels in the week to Jan. 6, the U.S. Energy Information Administration said, higher than analyst expectations for a 1.2- million-barrel build. Counter-seasonal strength in refinery runs have boosted product inventories, while stronger imports have bolstered crude stocks, "said Matt Smith, director of commodity research...

  • Crude inventories rose 4.1 million barrels in the week to Jan. 6, the U.S. Energy Information Administration said, higher than analyst expectations for a 1.2 million-barrel build. Counter-seasonal strength in refinery runs have boosted product inventories, while stronger imports have bolstered crude stocks, "said Matt Smith, director of commodity research...

  • IRANIAN OIL HELD IN FLOATING STORAGE SOLD TO BUYERS INCLUDING EUROPEAN REFINERIES IN ITALY AND FRANCE- DATA.

  • LONDON, Jan 6- OPEC and non- OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day in the first six months of 2017.. Saudi Arabia and its Gulf allies are expected to implement most of their cuts immediately, but other producers both within and outside the Organization of the Petroleum Exporting...

  • *Some doubt OPEC will lower production as much as promised. NEW YORK, Jan 5- Oil prices rose on Thursday in an up-and-down session, lifted by news that Saudi Arabia had cut production to meet OPEC's agreement to cut output after falling on data showing a surprisingly large increase in U.S. gasoline and distillate inventories. Oil has rallied 23 percent since...

  • *Saudi Arabia talks supply reductions with customers. *Some doubt OPEC will lower production as much as promised. NEW YORK, Jan 5- Oil prices slipped on Thursday after a surprisingly large increase in U.S. inventories of gasoline and distillates, slamming the brakes on an early rally on news that Saudi Arabia had started talks with customers about reducing crude...

  • Jan 5- U.S. crude oil inventories fell sharply as higher refining runs prompted a surge in gasoline and distillate stocks in the last week of 2016, the Energy Information Administration said on Thursday. "The large crude draw can entirely be explained away by the 7.1 million-barrel draw to Gulf coast inventories, as tax mitigation strategies meant crude...

  • Alcoa stopped production at the Suralco refinery, which has an annual refining capacity of 2.2 million metric tons, in 2015 due to dwindling bauxite ore supply. Alcoa also said it would record a $31 million non-cash, after-tax charge associated with its interests in a Western Australia gas field. The smelter was hit when a power interconnector between the...

  • Shares of Marathon jumped 6 percent to $53.17 on the announcement, which included accelerating its drop down of assets into its master limited partnership, MPLX LP, and that it may receive new common units in the partnership. In addition, the Findlay, Ohio- based refiner will form a special board committee to consider a spin-off or other alternatives for Speedway,...

  • Dec 29- U.S. crude oil stocks unexpectedly rose last week, while gasoline and distillate product inventories dropped, the U.S. Energy Information Administration said on Thursday. U.S. crude oil futures were up 1 cent to $54.08 a barrel at 11:38 a.m. EST, leaving the benchmark just shy of the year high of $54.51 reached on Dec. 12. "What seems to be giving this report...

  • *OPEC, non- OPEC output cut committee to meet in Vienna on Jan. 21-22. Singapore, Dec 29- Oil prices fell in early trade in Asia on Thursday following a surprise build in U.S. crude stocks shown in data published by the American Petroleum Institute late on Wednesday. U.S. benchmark West Texas intermediate crude futures were down 31 cents or 0.57 percent to $53.75 at 0104...

  • Singapore, Dec 29- U.S. oil prices fell on Thursday following a surprise build in the country's crude stocks shown in data published by the American Petroleum Institute late on Wednesday. U.S. benchmark West Texas intermediate crude futures were down 39 cents or 0.72 percent to $53.67 at 0033 GMT after settling up 16 cents at $54.06 per barrel in the previous...