Oil and Gas Oil and Gas Refining

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  • LONDON, March 17- The breakup of Royal Dutch Shell's and Saudi Aramco's giant U.S. refining joint venture draws a line under an often rocky relationship and allows Aramco to accelerate an ambitious public offering and Shell to push ahead with a large asset sale. The two energy giants' plan to dissolve Motiva Enterprises after a near 20- year partnership leaves...

  • *Short tanker distance benefits exports to Japan, Korea, China. SINGAPORE/ JINAN, China, March 17- The sales team at Sakhalin Energy on Russia's far east still finds Singapore hot, but they're flying in more often these days. The oil and gas producer, based on Russia's Sakhalin island, is one of a handful of far east Russian oil companies that are rapidly expanding their...

  • NEW YORK, March 16- Shell and Saudi Aramco on Wednesday announced plans to break up Motiva Enterprises LLC and divide up the assets, almost two decades after the U.S. oil refining and marketing joint venture was formed. *230,000 barrel-per-day Convent refinery located in St. James Parish, Louisiana;. *600,000 bpd Port Arthur refinery located in Port Arthur, Texas, the...

  • Time to buy refiners

    The oil and gas refining sector is down 20 percent this year. CNBC's Morgan Brennan takes a look.

  • *Saudi Arabia's Feb oil production stable at 10.22 million bpd. U.S. crude was trading at $38.15 per barrel at 0759 GMT, down 35 cents from their last settlement. Brent was down 26 cents at $40.13 a barrel after data showed that top exporter Saudi Arabia's February oil production was near record highs at 10.22 million barrels per day.

  • SINGAPORE, March 14- Oil prices dipped on Monday, weighed by global oversupply and slowing economic growth, although the prospects of falling production lent crude some support. U.S. crude futures were trading at $38.28 per barrel at 0615 GMT, down 22 cents from their last settlement. Brent futures were down 7 cents at $40.32 a barrel.

  • SINGAPORE, March 14- Oil prices were stable in early trading on Monday, with global oversupply and slowing economic growth weighing on markets but prospects of falling production lending some support. U.S. crude futures were trading at $38.41 per barrel at 0239 GMT, down 10 cents from their last settlement. But international Brent futures were up 6 cents at...

  • SINGAPORE, March 14- Oil prices dipped on Monday, with global oversupply and slowing economic growth weighing on markets. West Texas Intermediate crude futures were trading at $38.26 per barrel at 0146 GMT, down 24 cents from their last settlement. International benchmark Brent futures were down 8 cents at $40.31 a barrel.

  • BEIJING, March 12- China's January-February implied oil demand rose 0.6 percent from the same period a year earlier to 10.51 million barrels per day, according to Reuters calculations based on preliminary government data. Preliminary implied oil demand is the sum of domestic refinery throughput and net imports of refined products, on a bpd basis.

  • *OPEC meeting on output freeze unlikely without Iran. NEW YORK, March 10- Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance looked set to boost record domestic crude stockpiles, while an OPEC meeting aimed at freezing output appeared unlikely without Iran's participation. Global oil benchmark Brent settled...

  • *Oil meeting on output freeze unlikely without Iran progress. NEW YORK, March 10- Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance threatened to raise record inventories of crude and sources said an OPEC production freeze meeting was unlikely without Iran's participation. Global oil benchmark Brent was...

  • Strong margins on gasoline have helped European refiners such as BP, Shell and Total weather an 18- month slide in oil prices and they expect gasoline demand, mostly in the United States and China, to boost profits this year too. Like diesel last winter, excess gasoline is pooling in onshore tanks as well as on ships anchored off refining hubs and dawdling along...

  • *Oil meeting on output freeze unlikely without Iran progress. Brent crude futures were at $39.97 per barrel at 1439 GMT, down $1.10 from their last close, having earlier this week peaked at $41.48, the highest level since Dec. 9. U.S. crude was down 75 cents at $37.53 per barrel, having hit $38.51 on Tuesday, also its highest since Dec. 9.

  • *Saudi Arabia has no intention of production cut-Barclays. Brent crude futures were at $40.62 per barrel at 1011 GMT, down 45 cents from their last close, having earlier this week peaked at $41.48, the highest level since Dec. 9. U.S. crude was down 34 cents at $37.95 per barrel, having hit $38.51 on Tuesday, also its highest since Dec. 9.

  • HOUSTON, March 9- Colonial Pipeline said it has come up with multiple ways to manage its glutted system while trying to be fair to shippers, but a fuel executive for the top U.S. airline said expanding the largest domestic refined products pipeline system would solve the problems. "We wouldn't be here at all if we attacked the elephant in the room, which is expanding...

  • HOUSTON, March 9- Lyondell Basell Industries Chief Executive Bob Patel said on Wednesday the chemical company may at some stage sell its 263,776 barrel per day Houston refinery. For decades Lyondell management has described the Houston refinery as a primary source of feedstocks for the company's petrochemical plants, three of which are in industrial...

  • HOUSTON, March 9- Lyondell Basell Industries Chief Executive Bob Patel said on Wednesday that the chemical company may sell off its 263,776 barrel per day Houston refinery in "the longer term." For decades Lyondell management has described the Houston refinery as a primary source of feedstocks for the company's petrochemical plants, three of which are in...

  • LONDON, March 8- Global oil production exceeded consumption by just over 1 billion barrels in 2014/ 15, according to the International Energy Agency. Production exceeded consumption by an average of 0.9 million barrels per day in 2014 and 2.0 million bpd in 2015. Of the 1 billion barrels reportedly produced but not consumed, roughly 420 million are being stored...

  • *Kuwait producing 3 mln bpd- oil minister. *North Sea output to rise to highest in four years in April. LONDON, March 8- Oil prices edged lower on Tuesday in volatile trading after Kuwait said it would agree to an output freeze only if all major producers took part and Goldman Sachs analysts poured cold water on prospects for a sustained rally.

  • *Kuwait producing 3 mln bpd- oil minister. Brent crude futures were trading at $41.43 a barrel at 1257 GMT, their highest since Dec. 9, up 59 cents on the day. OPEC members and other producers in Russia are also due to meet for talks on March 20, according to the Nigerian petroleum minister.