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Oil and Gas Oil and Gas Refining

  • KUWAIT, Jan 25- Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday. Aramco had been in talks with Petronas about a joint venture in the Refinery and...

  • LAGOS, Jan 25- General Electric Co has proposed investing in Nigeria's oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE's plan and similar promises from companies like Italy's Eni to work with Nigeria to rehabilitate the country's three oil refineries could help the government as it tries to...

  • TOKYO, Jan 25- Japanese oil refiner Idemitsu Kosan Co said it conducted an emergency shutdown of a desulphurisation unit at its 200,000 barrels per day Chiba refinery after a fire near a heat exchanger. The crude distillation unit at the plant, east of Tokyo, is continuing to operate, with no impact on cargoes being sent from the facility's truck terminal or by sea, a...

  • WASHINGTON, Jan 24- A leading Republican lawmaker warned on Tuesday that Congress will not be able to lower the U.S. corporate tax rate to the 15 to 20 percent range sought by President Donald Trump unless a controversial "border adjustment" proposal remains part of tax reform. Escalating the war of words over a measure opposed by retailers, oil refiners and...

  • Will oil prices continue their rise?

    The oil market looks set to rebalance earlier than expected as OPEC members cut production, according to a report from UBS.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia, will meet in Vienna to establish a mechanism to verify compliance with a deal to cut output 1.8 million barrels per day, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. A weekend meeting in Vienna of members of the Organization of the Petroleum Exporting Countries and some producers outside of the group, including Russia, will establish a compliance mechanism to verify producers are sticking to a deal to reduce output by 1.8 million barrels per day, OPEC's...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • NEW YORK, Jan 19- U.S. crude inventories rose unexpectedly last week as refineries sharply slowed production, while gasoline stocks soared amid weak demand, the Energy Information Administration said on Thursday. U.S. crude and Brent tumbled to session lows of $51.24 and $54.05 per barrel respectively after the data. Refinery runs dropped precipitously amid...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices rose on Thursday, but swelling crude stockpiles in the United States limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far...

  • DUBAI, Jan 19- Saudi Arabia's crude oil exports in November rose to 8.258 million barrels per day from 7.636 million bpd in October, official data showed on Thursday. But Riyadh led OPEC and other rival producers in December to reach their first deal since 2001 to curtail oil output and ease a global glut which had strained many producers' budgets.

  • BREGA, Libya, Jan 19- Guards and officials at major ports in Libya's eastern Oil Crescent say they are hoping foreign workers will soon return as they struggle to build on output gains with meagre resources. The lifting of a long blockade at the ports helped Libya's oil output to more than double to over 600,000 barrels per day. Recent and future gains threaten to...

  • NEW YORK, Jan 18- Axeon Specialty Products plans on shutting down its 75,000 barrel-per-day asphalt refinery in Paulsboro, New Jersey, as early as this summer, according to a local politician and sources familiar with the company's plans. Axeon is owned by New York- based hedge fund Lindsay Goldberg. Neither Axeon nor Lindsay Goldberg responded to requests for...