Oil and Gas Oil and Gas Refining

  • The ship has been moved to a dock and is no longer in the waterway, the Coast Guard said. Only a light sheen from bunker fuel, a type of diesel, has been seen in the channel, according to the Coast Guard. The tanker caught fire near the intersection of Buffalo Bayou and he San Jacinto River, the Coast Guard said.

  • In Texas, Valero Energy Corp's Houston refinery, LyondellBasell Industries' Houston refinery, Petrobras' Pasadena refinery and Royal Dutch Shell's joint-venture Deer Park refinery have crude on-site in storage tanks and also have access to long-distance and short-haul pipeline systems. The Coast Guard was conducting assessments about how long it would...

  • *Plans aggressive expansion of lubricants business in Europe. MILAN, Sept 6- Malaysia's state-owned oil and gas company Petronas is on track to get its $27 billion refining and petrochemical complex in the south of the country up and running in 2019, the head of the group's downstream operations told Reuters. Petronas has earmarked heavy spending cuts to...

  • SINGAPORE, Sept 6- Iran expects to complete a pipeline and a terminal to export a new grade of crude by year-end, boosting the country's drive to ramp up oil production to pre-sanctions levels. A senior official from the National Iranian Oil Company said late on Monday that the terminal near Kharg Island in the Persian Gulf would be ready to export the new grade of...

  • LONDON, Sept 5- U.S. gasoline stockpiles remain at record highs for the time of year but excess inventory is smaller than it appears once adjusted for the higher level of domestic consumption and exports. But stockpiles look more reasonable when compared with the record level of gasoline consumption at home and strong exports to Mexico and the rest of Latin...

  • HOUSTON/ NEW YORK, Sept 5- Saudi Aramco and its U.S. refining joint-venture Motiva Enterprises lead the race to buy LyondellBasell Industries Houston refinery, according to three sources familiar with the matter. Reuters reported on Aug. 25 that Dutch chemical company Lyondell had retained Bank of America Merrill Lynch to help with a sale of the refinery.

  • LONDON, Sept 5- U.S. gasoline stockpiles remain at record highs for the time of year but excess inventory is smaller than it appears once adjusted for the higher level of domestic consumption and exports. But stockpiles look more reasonable when compared with the record level of gasoline consumption at home and strong exports to Mexico and the rest of Latin...

  • Traffic drives along US 98 as Hurricane Hermine approaches on September 1, 2016 in Eastpoint, Florida.

    East Coast refiners are built to withstand Cat-3 storms, but operations could still be affected, oil expert John Kilduff says.

  • *Also looking for storage opportunities in Asia. SINGAPORE, Sept 5- Japan's Cosmo Oil expects to triple the volume of oil products it trades out of Singapore in 2016 from a year ago, pushing to expand its business beyond its tepid domestic market. Rising Japanese exports come as neighboring China ships record volumes of oil products, feeding a glut in Asia and...

  • London Brent crude for November delivery was down 18 cents at $46.65 a barrel by 2245 GMT on Sunday. It was also helped by a report that Russian President Vladimir Putin supports OPEC's attempts to implement an output freeze with other producers. Cooperation between Russia and Saudi Arabia will bring benefits to the global oil market, Saudi Arabia's powerful...

  • LAUNCESTON, Australia, Sept 1- China's imports of iron ore and coal remained robust in August, providing a fundamental justification for the ongoing resilience in the price of the two major bulk commodities. Imports of iron ore by China, buyer of about two-thirds of global seaborne supplies of the steel-making ingredient, were estimated at 89.26 million tonnes...

  • DUBAI, Aug 31- Saudi Arabia does not target a specific level of oil production and its output is based on customers' needs, the energy minister of the world's largest oil exporter said. Speaking during an official visit to China, Khalid al-Falih told al-Arabiya TV channel that despite low crude prices he was optimistic for global demand, that demand for crude in...

  • Aug 31- U.S. crude oil stockpiles rose much more than expected last week, while distillate inventories surged as well, the U.S. Energy Information Administration said on Wednesday. We should be getting draws for this time of year, "said Tariq Zahir, trader in crude oil spreads at Tyche Capital Advisors in New York. Gulf; a tropical depression currently in the...

  • SINGAPORE, Aug 31- Crude oil futures fell in early trade on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories. International Brent crude oil futures were trading at $48.27 per barrel at 0052 GMT, down 10 cents, or 0.2 percent, from their previous close. Concerns over refinery production...

  • *Uganda aims to move more quickly towards oil production. KAMPALA, Aug 30- Uganda granted on Tuesday five production licenses to UK- listed explorer Tullow Oil and three to France's Total, clearing a major hurdle as the east African country aims to move more quickly towards crude production. Commercial oil reserves were discovered in Uganda a decade ago, but...

  • *Uganda aims to move more quickly towards oil production. KAMPALA, Aug 30- Uganda granted on Tuesday five production licences to UK- listed explorer Tullow Oil and three to France's Total, clearing a major hurdle as the east African country aims to move more quickly towards crude production. Commercial oil reserves were discovered in Uganda a decade ago, but...

  • LAUNCESTON, Australia, Aug 29- There is little doubt that China's surging exports of refined fuels have cut profit margins for Asia's refiners, but the pain is unlikely to be shared equally across all the region's exporters of oil products. However, detailed data is provided by China on the export destinations of its product exports, and Australia, the region's...

  • SINGAPORE, Aug 29- Oil prices fell over 1 percent on Monday after the U.S. dollar jumped, with markets pressured as Iraq's production rose and as Iran said it would only cooperate in talks to freeze output if fellow exporters recognized its right to fully regain market share. Brent crude futures were trading at $49.22 per barrel at 0644 GMT, down 70 cents, or 1.4...

  • SINGAPORE, Aug 29- Oil prices fell about 1 percent on Monday as Iraq's production rose and as Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognized its right to fully regain market share. Traders said the price falls were a result of climbing output from the Middle East, where oil exports from Iraq's southern ports...

  • LAUNCESTON, Australia, Aug 29- There is little doubt that China's surging exports of refined fuels have cut profit margins for Asia's refiners, but the pain is unlikely to be shared equally across all the region's exporters of oil products. However, detailed data is provided by China on the export destinations of its product exports, and Australia, the region's...