State-owned KNPC commissioned a consortium including Spain's Tecnicas Reunidas, China's Sinopec and South Korea's Hanwha Engineering and Construction to build the main process units of the refinery, KUNA said. A consortium including Daewoo Engineering and Construction, Hyundai Heavy Industries and Fluor Corp of the United States will build support...» Read More
Neil Atkinson, director of energy research & analysis at Datamonitor, tells CNBC that the damage wrought on oil refineries by Hurricane Sandy is not too serious and will not negatively affect energy markets in the long term.
Stephen Schork, The Schork Report, discusses the impact of superstorm Sandy on oil refineries. The FMHR traders discuss.
Alan McKim, CEO of Clean Harbors, reports cleanup crews are ready to respond.
Will Hurricane Sandy impact oil prices? Andy Lipow, Lipow Oil Associates president, weighs in.
Gasoline futures continued to trade higher in the electronic session Thursday as the latest track of Hurricane Sandy looked headed straight for the heart of the East Coast refining industry.
Diesel prices remain high, and Jimmy Haslam, Pilot Flying J chairman, discusses whether this is already trickling down into the rest of the economy.
Dave Barger, CEO of JetBlue, talks about the critical crude oil levels for the airline industry.
Just months after Delta Air Lines purchased a troubled East-Coast oil refinery in an effort to pare its fuel costs, United Continental Holdings, the nation’s biggest carrier, appeared to be exploring a similar move, according to someone familiar with the matter.
Saudi Arabia has offered its main customers in the US, Europe and Asia extra oil supplies through the end of the year, a sign the world’s largest exporter is worried about the impact of rising prices on the global economy. The FT reports.
The US Department of Justice intends to prove at trial that gross negligence or willful misconduct by BP caused the 2010 Deepwater Horizon disaster in the Gulf of Mexico, government lawyers have said, in the clearest statement yet that they are seeking the maximum possible penalties from the British oil group. The FT reports.
The Romney camp just released its energy plan, which gives individual states greater control over their energy wealth. Dan Weiss, Center for American Progress, and Sterling Burnett, National Center for Policy Analysis, discuss.
Russia’s entry into the World Trade Organisation (WTO) is good news but investors shouldn’t expect miracles straight away, Murat Ulgen, chief economist for Central & Eastern Europe and Sub-Saharan Africa at HSBC, told CNBC.
Energy investors remain bullish on ExxonMobil, even though the outlook for oil prices remain uncertain, two analysts told CNBC.
Thomas Hilboldt, Head of Oil, Gas & Petrochemicals Research, Asia-Pacific at HSBC said he wants to see a more meaningful change to China's energy pricing system.
Of all the major oil-producing countries in the world, only four are showing a long-term decline in production capacity by 2020. Factors like the recent showdown with Iran over its nuclear program are more influential, according to a Harvard University report.
Four and a half years of studies and five failed votes in the House of Representatives later, the massive Canadian-US pipeline is stuck at the Canadian border. And that won't change anytime soon.
The DOE's Energy Information Administration expects the cartel's share to remain at the current 40 percent, while US domestic output rises.
Airlines, trucking companies and other big energy consumers are betting on further oil price falls, with many reluctant to lock in at current levels amid fears prices could plunge if the global economy weakens further. The FT reports.
A new report shows sizable amounts of recoverable oil and natural as around the scenic island chain, but its location in the hurricane belt is already raising concerns about potential environmental damage.
Russia's prospects are brighter than those of many other economies, despite fears that the return of Vladimir Putin to the presidency will slow the pace of structural reforms and falling oil prices could hurt its budget.