Oil and Gas Oil and Gas Refining

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  • PUNTO FIJO, Venezuela, Jan 13- Operations at Venezuela's massive 955,000- barrel-per-day Paraguana refinery complex were paralyzed by an electrical blackout on Wednesday morning, according to two workers and an anti-government union leader. Employees at the 645,000- bpd Amuay refinery and adjacent 310,000- bpd Cardon refinery were evacuated as a...

  • PUNTO FIJO, Venezuela, Jan 13- Operations at Venezuela's massive 955,000- barrel-per-day Paraguana refinery were paralyzed by an electrical blackout on Wednesday morning, according to two workers and an anti-government union leader. It was not immediately clear what caused the problems reported by the workers at the 645,000- bpd Amuay refinery and...

  • BEIJING, Jan 13- China's crude oil imports hit a record 7.82 million barrels a day in December, customs data showed, as the world's No.2 oil consumer took advantage of low crude prices to fill strategic reserves, but also increased its exports of refined fuels to an all-time high. The December import figures may mean China challenges the United States to be the...

  • *Refiners tweak crude oil feedstocks to favor gasoline. LONDON, Jan 12- After years of building up diesel production, European oil refiners are using every trick in the book to maximize gasoline output to meet unabated global demand as the two fuels stage a sharp reversal of fortune. But today the world faces a growing excess of diesel and spectacular demand in...

  • BEIJING, Jan 12- China's natural gas demand may rise 6.5 percent in 2016, up from last year's tepid growth, as a cut in government-set prices and efforts to promote gas usage will lift demand for the fuel, said an official at a Chinese industry association. China's gas demand- hit by a slowing economy and an inflexible pricing mechanism- grew at less than 4 percent in...

  • *Paradip to meet fuel demand in eastern and southern India. PARADIP, India, Jan 10- State-run Indian Oil Corp aims to invest 40 billion rupees in upgrading its newest refinery in the eastern part of the country after the federal government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission...

  • *Some managers told shares in downstream JVs may be sold. *Upstream sale not being actively considered- sources. KHOBAR, Saudi Arabia/ DUBAI, Jan 10- Saudi Arabia is considering selling shares in refining ventures with foreign oil firms but would not offer a stake in the crude oil exploration and production operations of state oil giant Saudi Aramco, sources...

  • *U.S. added 292,000 nonfarm jobs in Dec.- Labour Department. NEW YORK, Jan 8- Crude prices steadied on Friday, supported by higher stock prices on Wall Street, but oil was still headed for a 10 percent weekly decline as global oversupply and a bleak demand outlook made it hard to guess the market's bottom. "It is extremely difficult to forecast the exact bottom," Hans van...

  • UPDATE 7-Oil prices dip, hug multi-year lows Friday, 8 Jan 2016 | 10:10 AM ET

    Prices were up in early trading after Beijing deactivated a circuit breaker mechanism that was blamed for aggravating equity market crashes earlier this week. Beijing then suspended equities trading as the sharp falls triggered the circuit-breaking mechanism for a second time since its introduction this week. Brent fell by 16 cents to $33.57 a barrel by...

  • LONDON, Jan 7- The 10.6 million barrel jump in U.S. gasoline stocks last week, reported by the Energy Information Administration on Wednesday, sent gasoline futures tumbling 4 percent and intensified the selloff in oil prices. Estimated gasoline consumption was also down 1.2 million barrels per day, over 13 percent, compared with the prior week, adding to market...

  • CALGARY/ WASHINGTON, Alberta, Jan 6- TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama's rejection of the Keystone XL pipeline, and also sought $15 billion in damages from a trade tribunal. Homeland Security Secretary Jeh Johnson and Sally Jewell, Secretary of the Department of Interior. The Keystone XL was designed to link...

  • UPDATE 2-Petrobras says oil refinery producing normally Wednesday, 6 Jan 2016 | 6:43 PM ET

    RIO DE JANEIRO, Jan 6- Brazil's state-run oil company Petroleo Brasileiro SA said on Wednesday its Presidente Bernardes oil refinery is producing normally, but acknowledged delays in the delivery of fuel in some states. Problems at the refinery, which produces about 8 percent of Brazil's vehicle fuels, led to shortages of gasoline and diesel in Brazil's...

  • CALGARY/ WASHINGTON, Alberta, Jan 6- TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama's rejection of the Keystone XL pipeline, calling his decision unconstitutional. TransCanada also sought $15 billion in a separate action under the North American Free Trade Agreement, saying the pipeline permit denial was "arbitrary...

  • CALGARY, Alberta, Jan 6- TransCanada Corp sued the U.S government in U.S. federal court on Wednesday, alleging President Barack Obama's rejection of the Keystone XL pipeline exceeded his power under the U.S. TransCanada also filed legal action under the North American Free Trade Agreement, saying the pipeline permit denial was "arbitrary and unjustified."

  • NEW YORK, Jan 6- U.S. gasoline inventories last week surged the most since 1993, overshadowing an unexpected slump in crude stocks, data from the Energy Information Administration showed on Wednesday. "As big as the crude oil drawdown was, the build in gasoline was even more spectacular and crushing to the market," said John Kilduff, a partner at Again Capital LLC.

  • NEW DELHI, Jan 5- Iran wants to avoid an oil price war with rival producers and only gradually lift exports once sanctions against it are lifted, a senior official said, in what would be a major shift away from planning to ship as much fuel as soon as possible. Iran, which has some of the world's biggest petroleum reserves, has repeatedly urged fellow members within the...

  • LONDON, Jan 4- Heating oil prices in the United States are trading as if it was mid-summer rather than winter, as warm weather and sluggish demand from freight companies combine to make heating oil cheaper than gasoline. On Dec. 31, the front-month futures price of heating oil closed at $1.10 per gallon, a discount of almost 17 cents to the futures price of gasoline.

  • DUBAI, Jan 3- A rise in Iran's crude oil exports once sanctions against it are lifted depends on future global oil demand and should not further weaken oil prices, senior officials were quoted as saying. Oil Minister Bijan Zanganeh said Iran did not plan to exacerbate an already bearish oil market. Iran has repeatedly said it plans to raise oil output by 500,000...

  • DUBAI, Jan 3- A rise in Iran's crude oil exports once sanctions against it are lifted depends on future global oil demand and that should not further weaken oil prices, a senior Iranian oil official was quoted as saying. Oil prices are likely to come under further pressure this year, when international sanctions on Iran are due to be removed under a nuclear deal...

  • NEW YORK/ LONDON, Dec 31- Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear. But for 2015, both benchmarks fell double-digits for a second straight year as Saudi Arabia and other members of the...