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Oil and Gas Oil and Gas Refining

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  • HOUSTON, March 11- The United Steelworkers union signaled that lead refinery owner representative Shell Oil Co may offer a possible settlement in the coming days that could end the largest refinery strike in 35 years. "Policy committee traveling to Houston to review any proposals. The national agreement being negotiated by the USW and Shell Oil, the U.S. arm of...

  • HOUSTON, March 11- The United Steelworkers union signaled that lead refinery owner representative Shell Oil Co may offer a possible settlement in the coming days that could end the largest refinery strike in 35 years. In a message issued Wednesday night, the union said it was assembling its policy committee which represents the rank and file to review...

  • LONDON/ CAIRO, March 11- Oil and condensate has been exported at least three times from the Libyan port of Mellitah since the start of this month, according to industry sources and ship-tracking data, a surprise move with other terminals in the west of the country largely shut. The Mellitah port, not far from Libya's western border with Tunisia, is jointly-operated...

  • Goldman's Gary Cohn: Beware $30 oil Wednesday, 11 Mar 2015 | 12:09 PM ET
    Gary Cohn, Goldman Sachs

    Goldman Sachs President Gary Cohn tells CNBC he is concerned about the short-term window for oil and said crude prices could fall to $30 a barrel.

  • BEIJING, March 11- China's implied oil demand in January and February rose 4 percent over a relatively weak base in the same two months a year ago, with near-record refinery throughput likely feeding into already high domestic inventories. China's economic growth is slowing, partly due to a cooling property market and as the country tries to deal with...

  • Novak told Reuters that Russia, one of the world's biggest oil producers, will maintain its crude oil output at over 10 million barrels per day, despite some expectations of a plunge in production due to lower prices. He said Russia will continue consultations with the Organization of the Petroleum Exporting Countries. Russia will meet OPEC officials in June in...

  • BEIJING, March 11- China's January-February crude oil throughput rose 3.5 percent over the same year-ago period to 82.64 million tonnes, or 10.22 million barrels per day, the National Statistical Bureau said on Wednesday.

  • LONDON, March 10- Brent crude futures fell to around $57 a barrel on Tuesday as the dollar hit multi-year highs and the oil market remained hobbled by oversupply and weak demand. At 1429 GMT, Brent was down $1.52 at $57.01 a barrel, having touched an intraday low of $56.81 after U.S. traders arrived at their desks. "In order to balance the market we need the supply glut to...

  • *OPEC meeting may coincide with Iran nuclear deal. DOHA, March 10- OPEC is likely to maintain its production policy at a meeting in June, Kuwait's OPEC governor said on Tuesday in the first public comment on what would be a crucial decision to determine the direction of global oil prices in the second half of the year. On Tuesday, Kuwait's OPEC governor Nawal...

  • LONDON, March 10- Brent crude futures dipped below $58 a barrel on Tuesday as the dollar scaled multi-year highs and the oil market remained hobbled by oversupply and weak demand. At 0940 GMT, Brent was down 81 cents at $57.72, while U.S. crude was 41 cents lower at $49.59. "In order to balance the market we need the supply glut to be brought down, by rising demand or lower...

  • BENGHAZI, Libya, March 9- Libya is set to export more than two million barrels of crude oil this week from two ports in the east where output has topped 245,000 barrels per day, oil officials said on Monday. Rising exports from the ports of Hariga and Zueitina offer some hope for the OPEC member state's oil sector, which has been battered by Islamist militant attacks...

  • CALGARY, Alberta, March 5- Canadian crude-by-rail exports dipped in the fourth quarter from the previous three-month period, National Energy Board data showed on Thursday, as poor netbacks deterred some shippers from loading barrels onto trains bound for U.S. markets. "The differentials have come in quite a bit so they just have not been covering the railing...

  • *Libya has declared force majeure on 11 oilfields. LONDON, March 5- Brent crude futures pared early gains on Thursday to hover just under $61 as the euro slipped to an 11- year low against the dollar, offsetting concerns about tensions in Iraq and Libya. Brent and WTI rose earlier on Thursday due to concerns about oil supplies from Libya and Iraq.

  • *Libya has declared force majeure on 11 oilfields. LONDON, March 5- Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish U.S. inventories data to focus on tensions in Iraq and Libya. It seems to be that the market does seem to be paying a little bit of attention to geopolitical factors, namely Iraq and Libya, "said Virendra...

  • LONDON, March 5- Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish U.S. inventories data to focus on the lack of a deal in talks over Iran's nuclear programme. Tehran's ambassador to the International Atomic Energy Agency said on Wednesday no deal had been reached on the duration of any possible final agreement with...

  • SINGAPORE, March 5- Brent crude was flat on Thursday, managing to hold above $60 a barrel as investors brushed aside bearish U.S. inventories data to focus on the lack of a deal in talks over Iran's nuclear program. Tehran's ambassador to the International Atomic Energy Agency said on Wednesday no deal had been reached on the duration of any possible final...

  • SINGAPORE, March 5- U.S. crude was trading comfortably above $51 a barrel on Thursday, after comments by Saudi's oil minister predicting a floor for prices and as Iran nuclear talks hit a bump. President Barack Obama' s demand that it freeze sensitive nuclear activities for at least 10 years but said it would continue talks on a deal, Iran's semi-official Fars news...

  • WASHINGTON, March 4- The U.S. Senate failed on Wednesday to override President Barack Obama's veto of legislation approving the Keystone XL oil pipeline, leaving the controversial project to await an administration decision on whether to permit or deny it. The Senate mustered just 62 votes in favor of overriding the veto, short of the two-thirds needed.

  • SAN FRANCISCO, March 4- Environmentalists in California filed a lawsuit on Wednesday against Contra Costa County over its approval last month of a plan to increase propane recovery at Phillips 66' s Rodeo refinery, saying the environmental review did not take into account the broader impact of the project. In early February, the Contra Costa Board of...

  • HOUSTON, March 4- Labor leaders and oil company representatives will resume face-to-face talks on Monday in Houston in a bid to agree on a new contract that would end the biggest U.S. refinery strike in 35 years, the United Steelworkers union said on Wednesday. The protracted strike has prompted at least some workers in Texas to return to their jobs.