Oil and Gas Oil and Gas Refining

  • Nov 21- Tesoro Logistics LP said on Monday it would buy crude oil, natural gas and other gathering systems in North Dakota from a consortium for about $700 million. Tesoro Logistics also said it would buy terminal and storage assets located in Martinez, California from a subsidiary of oil refiner Tesoro Corp for about $400 million. The consortium selling the...

  • VANCOUVER, Nov 20- The bullish view for Suncor Energy Inc, Cenovus Energy Inc and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia. Natural Resources Minister Jim Carr told reporters Tuesday that Keystone "doesn't...

  • Oil rig afloat on the waters in Alaska

    The Obama administration on Friday blocked the sale of new permits to drill oil and gas in the Chukchi and Beaufort Seas off Alaska.

  • "The exports figures suggest that they will not give up a critical card that they are going to use in the OPEC negotiations to freeze or reduce OPEC production before they reach such an agreement at the November meeting," said Sadad al-Husseini, an energy consultant and former Saudi Aramco senior executive. OPEC is in talks with major non- OPEC producers in a bid to...

  • Tesoro is investing in crude-by-rail infrastructure, taking recent delivery of new tank cars at the Port of Vancouver in Washington. These DOT-120 tank cars will be among the first next-generation models to hit the tracks.

    Tesoro said on Thursday it would buy Western Refining Inc for $4.1 billion to add refineries in Texas, New Mexico and Minnesota.

  • NEW DELHI, Nov 17- Iran overtook political rival Saudi Arabia as India's top oil supplier in October, shipping data showed, just ahead of a producers' meeting this month to hammer out the details on output cuts aimed at reining in a global glut. Iran used to be India's second-biggest oil supplier, a position it ceded to Iraq after tough Western sanctions over its...

  • LONDON, Nov 16- President-elect Donald Trump is very unlikely to restrict imports of crude oil from Saudi Arabia despite threats to do so issued during the election campaign. Trump warned that he would be prepared to stop buying oil from Saudi Arabia unless the kingdom provided ground troops to fight Islamic State. He also insisted the kingdom and other Gulf oil...

  • CARACAS/ HOUSTON, Nov 16- Two consortia including Japanese engineering firm JGC Corp and French oil services company Technip have been shortlisted to undertake a roughly $680 million overhaul of Aruba's refinery, according to three sources close to the deal. The contract is expected to be awarded in coming days, the sources in Caracas and Houston said.

  • Nov 16- U.S. crude oil inventories rose more than expected last week on increased imports and a build at the storage hub in Cushing, Oklahoma, the U.S. Energy Information Administration showed on Wednesday. U.S. crude was up 29 cents, or 0.6 percent, at $46.11 a barrel, while Brent crude rose 26 cents, or 0.5 percent, to $47.21 a barrel, as of 10:51 a.m. EST.

  • LONDON, Nov 16- President-elect Donald Trump is very unlikely to restrict imports of crude oil from Saudi Arabia despite threats to do so issued during the election campaign. Trump warned that he would be prepared to stop buying oil from Saudi Arabia unless the kingdom provided ground troops to fight Islamic State. He also insisted the kingdom and other Gulf oil...

  • *Global rivalry between Russia and Saudi Arabia intensifies. The deal between Essar and a consortium led by Kremlin oil giant Rosneft appeared dead in the water two months ago after Saudi state energy firm Aramco weighed in, according to seven Russia, India and Saudi-based industry sources familiar with or involved in the negotiations. This made the refiner...

  • *Demand driven by "Clean India" sanitation programme... *...and China's "One Belt, One Road" projects. Nov 16- From India's plan to plumb in over 100 million toilets in six years to China's ambitious new Silk Road network and the continued movement of millions of people into cities across Asia, plastic makers face years of strong demand.

  • HOUSTON/ BUENOS AIRES, Nov 15- Two tankers carrying 3 million barrels of Nigerian and Angolan crudes set sail this month to Argentina to feed its domestic refining network, pushing the country's imports close to 2015 level, according to sources and Thomson Reuters data. Argentina last year received some 6 million barrels of imported crude, mostly African medium...

  • HOUSTON/ BUENOS AIRES, Nov 15- Two tankers carrying 3 million barrels of Nigerian and Angolan crudes set sail this month to Argentina to feed its domestic refining network, pushing the country's imports close to 2015' s level, according to sources and Thomson Reuters data. Argentina last year received some 6 million barrels of imported crude, mostly African...

  • LONDON/ MOSCOW, Nov 15- The Mediterranean is rapidly becoming the world's most oversupplied oil market, as exports from OPEC heavyweights Iraq and Iran, rising star Kazakhstan and the return of Libyan crude force traders to get creative in marketing their barrels. Looking at combined exports of major grades from OPEC members Iran, Algeria and Libya, together...

  • *U.S. shale firms go back to work buoyed by OPEC deal. TOKYO, Nov 14- Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again. London Brent crude for January delivery was trading up 4 cents at $44.79 a barrel by 0738 GMT, after settling down $1.09 on...

  • *U.S. shale firms go back to work buoyed by OPEC deal. TOKYO, Nov 14- Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again. London Brent crude for January delivery was trading up 4 cents at $44.79 a barrel by 0630 GMT, after settling down $1.09 on...

  • *Oct crude output lowest since May 2009 on daily basis. BEIJING, Nov 14- China's daily crude oil production in October fell to the lowest in more than seven years, statistics bureau data showed on Monday, as producers remain reluctant to drill new wells amid tepid oil prices and as output drops from aging wells. Oil output last month in China, the world's...

  • *Oct crude output lowest since May 2009 on daily basis. BEIJING, Nov 14- China's crude oil production in October fell 11.3 percent from a year ago, data from the country's statistics bureau showed on Monday, reflecting the continuing impacts from aging wells and tepid oil prices. On a daily basis, October production was 3.78 million barrels per day, the lowest since...

  • LONDON, Nov 11- Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernise and streamline an industry known for graft and mismanagement. The ministry seeks, in the proposal, to end the OPEC member's reliance on oil exports and shift to a "gas-based industrial economy," and said Nigeria needs to reform...