Oil and Gas Oil and Gas Refining

More

  • BISMARCK, N.D.— A petroleum tanker laden with 175,000 barrels of North Dakota crude was being offloaded in Europe on Wednesday, the first such overseas shipment of the state's oil since Congress lifted a 40- year ban on crude exports in December. North Dakota's congressional delegation and industry officials hailed Hess Corp.' s shipment as a milestone that...

  • NEW YORK, April 20- U.S. crude oil inventories rose slightly less than expected last week, while distillate stockpiles posted an unexpected and huge drawdown, data from the Energy Information Administration showed on Wednesday. "Distillates are the standout bullish element of the report and gasoline is the disappointment," said Matt Smith, director of...

  • LONDON, April 20- Global refining margins have improved significantly in recent weeks which should support strong demand for crude and lend some strength to both spot prices and spreads in the short term. But the multitude of indicators on refinery margins all point to an improvement in the United States and globally since the lows hit in February, which is...

  • ALBUQUERQUE, N.M.— Oil drilling companies and royalty owners from the Texas Panhandle to New Mexico's stretch of the Permian Basin are embarking on a grass-roots campaign to limit foreign oil imports, salvaging what they say is a major sector of the U.S. economy. "American oil is competing against a cartel of government operators which has a stated initiative of...

  • QUITO, April 19- Ecuador's 110,000 barrel-per-day Esmeraldas refinery restarted at 41.5 percent capacity on Monday night and will be fully operational by Wednesday after a precautionary stoppage because of a major earthquake, state oil company Petroecuador said. "After suspending operations for 57 hours to allow for technical inspections and find...

  • QUITO, April 19- Ecuador's 110,000 barrel-per-day Esmeraldas refinery restarted at 41.5 percent capacity on Monday night and will be fully operational by Wednesday after a precautionary stoppage because of a major quake, state oil company Petroecuador said in a statement.

  • *Kuwait oil output at 1.5 mln bpd- KUNA. *Russia, Venezuela eye output increases. NEW YORK, April 19- Oil prices jumped more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels.

  • *Oman has less time than neighbors to diversify beyond oil. DUQM, Oman, April 19- On a stretch of barren coast 550 km south of the capital Muscat, workers at a ship repair yard swarm over cargo vessels from around the world, labor that will help to determine Oman's fate in an era of cheap oil. But it's at the center of the biggest single economic project in the history of...

  • BEIJING, April 18- China's Foreign Ministry on Monday called for talks after Costa Rica's state-run oil company, Recope, said last week it had decided to abandon a $1.5 billion refinery upgrade project it was working on with China National Petroleum Corp. Costa Rica made the surprise move in 2007 of breaking off its decades-long relations with Taiwan, now...

  • *Analysts say little impact expected from meeting in Doha. Oil producers lead by top exporters Saudi Arabia and Russia plan to meet in Qatar on Sunday to discuss freezing output around current levels in an effort to contain a global supply glut that sees some 2 million barrels of crude produced every day in excess of demand. "Momentum is building behind an...

  • BEIJING, April 15- China's March refinery throughput fell 0.2 percent compared with the same period a year earlier to 44.91 million tonnes, or 10.58 million barrels per day, data from the National Bureau of Statistics showed on Friday. The daily run rate in March was largely unchanged from the 10.59 million bpd recorded in the first two months this year.

  • BEIJING, April 13- China's crude oil imports rose nearly 22 percent on a daily basis in March from a year earlier, off a record-high in February, while imports for the first quarter grew over 13 percent from the same period in 2015, official data showed. Robust purchases from these so-called "teapot" plants have caused severe port congestion in eastern Shandong...

  • LONDON, April 11- Strong growth in U.S. gasoline consumption has been one of the most important factors supporting oil prices in 2016, but some analysts question whether the official data is overstating the strength of gasoline demand. U.S. gasoline consumption has been running at a record seasonal rate since February, according to weekly data published by the...

  • HOUSTON, April 8- A fire erupted at LyondellBasell Industries' 263,776 barrels-per-day Houston refinery on Friday, forcing the company to cut output as much as 25 percent as it will take up to a month to fix a damaged coker, sources familiar with operations told Reuters. As black smoke blanketed swaths of Houston, emergency officials urged nearby residents not to...

  • LONDON, April 8- Oil refineries are shifting into high gear to produce as much gasoline as possible for the world's fuel-hungry drivers- kicking the problem of a worsening diesel glut further down the road. The "margin" or profit derived from refining crude into diesel has plunged in Europe, hitting multi-year lows this week as demand for the fuel- used heavily for...

  • *But soaring crude output in Iraq, Iran compounds crude glut. SINGAPORE, April 8- Oil prices rose on Friday, lifted by firm economic indicators from the United States and Germany which could support fuel demand, but analysts warned that crude markets were threatened by another downturn because of ongoing oversupply. West Texas Intermediate crude futures were...

  • *But soaring crude output in Iraq, Iran compounds crude glut. SINGAPORE, April 8- Oil prices edged up early on Friday, lifted by firm economic indicators from the United States and Germany which could support fuel demand, but analysts warned that crude markets were threatened by another downturn because of ongoing oversupply. In Europe, rating agency Moody's said...

  • HOUSTON, April 7- A fire erupted at Exxon Mobil Corp's Baytown, Texas refinery on Thursday afternoon, sending a large plume of black smoke into the air that was visible for miles across Houston. People in the vicinity and the U.S. Coast Guard's Vessel Traffic Service said the smoke was coming from the 560,500 barrel per day oil refinery that includes a chemical...

  • NEW YORK, April 7- A plume of black smoke near Houston's Ship Channel that was visible from miles away originated at Exxon Mobil Corp's Baytown, Texas, facility according to the Coast Guard's Vessel Traffic Service. The facility comprises a chemical plant and a 560,500 barrel per day oil refinery. Exxon Mobil could not immediately be reached for comment.

  • HOUSTON, April 7- Exxon Mobil Corp's Baytown, Texas, refinery, the country's second largest, has begun increasing production levels for the first time since cutting back in early February due to a glut of gasoline in the United States, sources familiar with plant operations said.