Oil and Gas Oil and Gas Refining

  • RIO DE JANEIRO, Sept 19- Brazil's heavily indebted state-led oil company Petrobras will likely cut planned investment by about a sixth and its 2020 output goal by 14 percent under a five-year strategic plan that could be released as early as Monday after markets close, according to analysts. "This plan is very important for setting expectations at a company that...

  • SINGAPORE, Sept 19- Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non- OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Venezuelan President Nicolas Maduro said on Sunday that a deal between OPEC and non- OPEC countries...

  • *Iran oil exports near pre-sanctions level- source. NEW YORK, Sept 16- Crude oil prices fell 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures settled down 82 cents, or 1.8 percent, at $45.77 a barrel, hitting a two-week bottom of $45.48.

  • *Iran oil exports near pre-sanctions level- source. NEW YORK, Sept 16- Crude oil prices fell by up to 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures settled down 82 cents, or 1.8 percent, at $45.77 a barrel, hitting a two-week bottom of...

  • NEW YORK, Sept 16- Gasoline futures have soared and prices at the pump in certain states have started to spike due to an ongoing partial shutdown of Colonial Pipeline, the vital artery bringing gasoline and other products to the U.S. East Coast. Specifically, traders and analysts say the six states most likely to be affected are Georgia, Virginia, South Carolina,...

  • *Iran oil exports near pre-sanctions level-source. NEW YORK, Sept 16- Crude oil prices fell by up to 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures slid 86 cents, or 1.9 percent, to $45.73 a barrel by 1:09 p.m. EDT.

  • *Iran oil exports close to pre-sanctions level- source. NEW YORK, Sept 16- Crude oil prices fell by up to 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages. Brent crude futures slid 74 cents, or 1.6 percent, to $45.85 a barrel by 12:39 p.m. EDT.

  • NEW YORK, Sept 16- Gasoline futures have soared and prices at the pump in certain states have started to spike as a result of an ongoing shutdown of the Colonial Pipeline, the key artery bringing gasoline and other products to the U.S. East Coast. Specifically, traders and analysts say the six states that are most likely to be affected are Georgia, Virginia, South...

  • *Iran oil exports close to pre-sanctions level- source. Gasoline was the only bright spot on the petroleum complex, rising more than 2 percent on news of an extended outage at one of the main units of BP's refinery in Whiting and closure of Colonial Pipeline's main gasoline line. Brent crude futures were down 50 cents, or 1 percent, at $46.09 a barrel by 11:24 a.m. EDT.

  • NEW YORK, Sept 15- Colonial Pipeline Co, operator of the largest refined products pipeline system in the United States, said on Thursday it would delay until next week the full restart of its main gasoline line bringing fuel to the East Coast after a 6,000- barrel leak in Alabama. The company on Friday shut its main gasoline and distillate lines, which are critical...

  • NEW YORK, Sept 15- Oil prices rose about 1 percent or more on Thursday after tracking a rally in gasoline futures sparked by a delayed restart of the main gasoline line at Colonial Pipeline, the No. 1 carrier for the motor fuel in the United States. Brent crude futures settled up 74 cents, or 1.6 percent, at $46.59 a barrel, after a session high at $47.

  • *Returning Nigeria, Libya supplies could cut short rally. NEW YORK, Sept 15- Oil prices rose about 2 percent on Thursday, ending a two-day slide as prices tracked a surge in gasoline futures and higher U.S. equity markets. Brent crude futures were up $1.15, or 2.5 percent, to reach a session high of $47 per barrel by 12:22 p.m. EDT.

  • FRANKFURT/ LONDON, Sept 14- At least three leading chemical companies are set to vie for BP's stake in Chinese petrochemicals joint venture SECCO which could fetch more than $2 billion, sources close to the process said. Offers for the 50 percent stake, the British oil and gas company's largest investment in China, will be submitted in the coming days, the sources...

  • Sept 14- U.S. crude oil stocks fell last week, confounding expectations that inventories would rise to make up for the previous week's drawdown, which was the biggest in 15 years, data from the U.S. Energy Information Administration showed on Wednesday. It comes one week after a drop of more than 14 million barrels that was attributed to the effects of Tropical...

  • ABUJA, Sept 14- Nigeria will not increase its gasoline prices, President Muhammadu Buhari told his oil minister and state oil firm head, summoned to his villa last week, sources at the compound said. Oil Minister Emmanuel Ibe Kachikwu, the head of state oil firm NNPC Maikanti Baru and the entire government have stepped up efforts to keep fuel flowing into Nigeria...

  • NEW YORK, Sept 13- Colonial Pipeline Co's days-long shutdown of the main line that moves gasoline to the Atlantic Coast from the U.S. Gulf Coast has had the unintended effect of starting to alleviate the glut of domestic gasoline supply, traders said. Gasoline futures, and cash prices, particularly in the New York Harbor, rallied. The East Coast has been weighed down...

  • LONDON, Sept 13- The global oil market will show a surplus into next year, as an abrupt deterioration in demand growth meets rising supply, pushing world inventories to yet another record high and confounding the previous expectations of leading energy agencies. The International Energy Agency on Tuesday forecast global supply would outpace demand well into...

  • BEIJING, Sept 13- China's crude oil output fell almost 10 percent in August from a year ago to the lowest in more than six years, data from the statistics bureau showed, as low prices continue to plague major producers. China's shrinking crude output reflects the concerns of the nation's top energy groups, who are struggling to keep their wells open with benchmark...

  • BEIJING, Sept 12- China's state oil refiners are readying to export more diesel and gasoline in coming months as a bleak outlook for what is typically the nation's period of greatest consumption sends shivers through an already saturated global market. Slackening demand this year and surging output from China's small independent refiners have swollen...

  • NEW YORK, Sept 11- With the U.S. government siding in favor of Native American protests against a key North Dakota pipeline, local oil producers and shippers are facing the possibility of greater delays in getting a quick route to ship oil to the Gulf of Mexico. On Friday, following ongoing protests from environmentalists and Native American tribes, the U.S....