Oil and Gas Oil and Gas Refining

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  • *Iraq to export near record volumes of Basra crude. *China's economy expected to weaken further. *U.S. refinery issue raises Cushing oil stock concerns.

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and depatures at this gateway to for northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting...

  • Aug 12- A faulty compressor may be to blame for a shutdown at the 88,000- barrel-per= day gasoline-making fluid catalytic cracking unit at Philadelphia Energy Solutions' 335,000- bpd plant in Philadelphia, a source familiar with plant operations said on Wednesday. The 200,000 bpd capacity crude unit at the Girard Point section of the refinery is currently...

  • NEW YORK, Aug 12- Oil ended up on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown deflated prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • UPDATE 9-Oil steady on U.S. stockpile decline, dollar drop Wednesday, 12 Aug 2015 | 12:35 PM ET

    NEW YORK, Aug 12- Oil prices steadied on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown sank prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • *China oil outlook hit by yuan move, non- OPEC output upped. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite low prices. A BP refinery outage in Whiting, Indiana,...

  • *OPEC raises 2015 non-member production forecast. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand from the No.2 consumer, and a new OPEC estimate showed non-member producers were likely to keep output high despite low prices. "It's time to sell any and all rallies," said...

  • HOUSTON, Aug 11- Heavy damage to the largest crude distillation unit at BP Plc's 413,500- barrel-per-day Whiting, Indiana, refinery will require at least a month to repair, sources familiar with the refinery's plans said on Tuesday. BP spokesman Scott Dean declined to discuss operations at the oil major's largest refinery in the United States.

  • Pro: EOG the Apple of oil Tuesday, 11 Aug 2015 | 12:48 PM ET
    Pro: EOG the Apple of oil

    What's fueling oil's collapse? Paul Sankey, Wolfe Research analyst, has the play on the commodity space.

  • China strengthens hold over oil market as price maker Tuesday, 11 Aug 2015 | 6:46 AM ET

    *China's crude import costs more than halved to $10 billion/ month. SINGAPORE, Aug 11- China's growing ability to buy and sell millions of barrels of crude oil on the Asian physical market in a matter of minutes through its main trading firms has given China so much clout that other traders are often forced to follow its agreed prices. Early this month, Chinaoil, the...

  • In Monday's session, gasoline futures jumped almost 4 percent, heading for its largest daily gain in a month, after BP Plc's 240,000 barrel per day crude distillation unit at its Whiting, Indiana, refinery, was shut by a malfunction on Saturday, sources familiar with operations at the plant said. Brent crude was up $1.47, or 3 percent, at $50.08 a barrel by 12:53 p.m....

  • In Monday's session, gasoline futures jumped about 3 percent, heading for its largest daily gain in a month, after BP Plc's 240,000 barrel per day crude distillation unit at its Whiting, Indiana, refinery, was shut by a malfunction on Saturday, sources familiar with operations at the plant said. Brent crude was up $1.28, or 2.6 percent, at $49.89 a barrel by 11:00 a.m....

  • Chevron's ugly earnings put focus on oil dividends Friday, 31 Jul 2015 | 2:12 PM ET

    Chevron earnings fell well below expectations Friday, raising new questions about shareholder returns at a time when oil prices are sliding again.

  • Oil to hit low $30s by the end of 2015: Kilduff Thursday, 30 Jul 2015 | 7:56 AM ET
    Pump jacks and wells are seen in an oil field on the Monterey Shale formation, March 23, 2014, near McKittrick, Calif.

    By Christmas, oil will be rebounding off the mid to lows $30s, John Kilduff told CNBC.

  • An energy play that nobody's talking about Thursday, 23 Jul 2015 | 12:38 PM ET
    Flared natural gas is burned at an Apache natural gas plant in the Permian Basin in Garden City, Texas.

    Companies are plowing billions into infrastructure projects, making long-term bets that demand for nat gas will keep growing.

  • Why Iranian crude won't be arriving anytime soon Tuesday, 14 Jul 2015 | 6:07 PM ET
    Why Iranian crude won't be arriving anytime soon

    Matt Smith, Director of Commodity Research at ClipperData, says sanctions against Tehran won't be lifted until December so until then, Iranian crude won't be hitting export markets.

  • Stick with Valero & Tesoro: Trader Monday, 13 Jul 2015 | 5:10 PM ET
    Stick with Valero & Tesoro: Trader

    Valero Energy is adding $2.5 billion to its share buyback. "Fast Money" trader Guy Adami likes the stock.

  • Tracking Total's expansion strategy Thursday, 2 Jul 2015 | 7:43 PM ET
    Tracking Total's expansion strategy

    Philippe Boisseau, president of New Energies at Total, discusses the launch of its new Singapore plant which will be the biggest lubricants oil blending facility in the world.

  • Nigeria starts investigating crude oil swap contracts Saturday, 13 Jun 2015 | 4:16 AM ET
    A worker inspect facilities on an upstream oil drilling platform at the Total oil platform at Amenem, 35 kilometers away from Port Harcourt in the Niger Delta in 2009.

    Nigeria is probing whether it was short-changed by deals to swap crude for refined products, the state oil company, traders and a security source said.

  • Hamm: Americans pay price for US oil export ban Thursday, 12 Mar 2015 | 8:40 AM ET
    Continental Resources CEO Harold Hamm pauses during an interview in his Oklahoma City offices, July 12, 2012.

    Billionaire oilman Harold Hamm tells CNBC that American refineries can't handle all the oil being produced domestically.