Oil and Gas Oil and Gas Refining

  • SINGAPORE, Nov 9- Oil prices turned lower on Wednesday as early counting showed Republican Donald Trump and Democrat Hillary Clinton waging a close battle in several crucial battleground states in the U.S. presidential election. Trump held slight leads in the vital battleground states of Florida, Virginia and Ohio on Tuesday, clinging to a narrow advantage...

  • Brent crude futures only started trading shortly before 0100 GMT, highly unusual for the international oil benchmark, and they were priced down 5 cents from their last settlement, at $45.99 per barrel at 0128 GMT. "Volumes are eerily low... this morning, which means a lot of investors are still sitting on the side lines waiting for further confirmation of the outcome...

  • SINGAPORE, Nov 9- Oil moved up early on Wednesday in thin trading as markets focused on the U.S. presidential election, but those who made deals pushed prices up on early indications of a Hillary Clinton lead over Donald Trump. Brent crude futures only started trading shortly before 0100 GMT, highly unusual for the international oil benchmark, and was trading up 16...

  • LAUNCESTON, Australia, Nov 9- The sharp drop in China's crude oil imports in October can be ascribed to a combination of factors, but one of them should be a red flag to OPEC, threatening the success of any deal to curb production. China doesn't release stockpiling data on a monthly basis and only occasionally updates the amount of crude it has in strategic storage.

  • West Texas Intermediate crude oil futures were trading at $44.81 per barrel at 0011 GMT, down 17 cents from their last settlement. "Crude sold off slightly late in the New York session, as the American Petroleum Institute crude inventory figures showed a 4.4 million barrel increase against an expected 2.2 million increase. The effect has been short lived as the...

  • *Doubts remain over OPEC, producer cuts in crude output. U.S. crude stockpiles rose 4.4 million barrels in the week to Nov. 4, according to the American Petroleum Institute. Brent futures edged down 26 cents, or 0.6 percent, to $46.04 a barrel at 5:09 p.m..

  • The premium of Brent crude futures for delivery in six months over those for prompt delivery, one measure of confidence in the market outlook, on Monday shot to its largest since February, the point at which OPEC first floated the idea of a possible deal on output to erode a two-year-old global surplus. The spread, or contango, is now at $3.51 a barrel, up from $2.30 at...

  • The premium of Brent crude futures for delivery in six months over those for prompt delivery, one measure of confidence in the market outlook, on Monday shot to its largest since February, the point at which OPEC first floated the idea of a possible deal on output to erode a two-year-old global surplus. The spread, or contango, is now at $3.51 a barrel, up from $2.30 at...

  • A pipeline sign stands in Cushing, Oklahoma, U.S.

    An earthquake with a preliminary magnitude of 5 struck near Cushing, Oklahoma, prompting evacuations, but there were no reports of injuries.

  • LONDON, Nov 7- A switch to cleaner fuels in the world's ships in 2020 could double the profits of the world's most advanced oil refineries- but threatens to put older ones out of business and punish those countries, including prominent OPEC members, that produce the wrong kind of crude. It is effectively a windfall for advanced refineries, which produce larger...

  • NEW YORK, Nov 7- A deal struck in 2012 to save the U.S. East Coast's oldest and largest refinery seemed to have all of the right elements for success: private investors, big oil and taxpayer funding, and the promise of a private-public partnership that would help job growth and consumers. A sharp decline in the price of oil sourced in North Dakota has hammered profits...

  • BUDAPEST, Nov 4- Hungarian oil group MOL will invest in new chemical plants to cut its dependence on producing fuel for cars, while also buying more upstream assets and selling goods and services in its petrol stations, its head Zsolt Hernadi said. Central Eastern Europe's leading fuel retailer, with around 2,000 such stations and four refineries, aims to invest...

  • SINGAPORE, Nov 4- Taiwan's Formosa Petrochemical Corp has planned maintenance at its 540,000 barrels-per-day Mailiao refinery next March, September and November, a company spokesman said on Friday. Formosa is one of the largest oil products exporters in Asia, so any major supply cuts from the refiner would likely support margins. The refiner is planning to...

  • *Army will make final decision based on its own review. WASHINGTON, Nov 2- President Barack Obama said the U.S. government is examining ways to reroute an oil pipeline in North Dakota as it addresses concerns raised by Native American tribes protesting against its construction. "Ultimately, this is a determination the Army must make based on its own review, and we...

  • WASHINGTON, Nov 2- President Barack Obama said the U.S. government is examining ways to reroute an oil pipeline in North Dakota as it addresses concerns raised by Native American tribes protesting against its construction. On Wednesday, protesters on the banks of the Cantapeta Creek confronted law enforcement, as they attempted to build a wooden pedestrian...

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • WASHINGTON, Nov 2- President Barack Obama said the U.S. government is examining ways to reroute an oil pipeline in North Dakota as it addresses concerns raised by Native American tribes protesting against its construction. Justice and Interior Departments along with the U.S. Army Corps of Engineers halted construction of part of the pipeline in September due...

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • *OPEC production seen hitting another record in Oct. NEW YORK, Nov 2- Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The U.S. Energy Information Administration said crude inventories rose 14.4...

  • WASHINGTON, Nov 2- President Barack Obama said the U.S. government is examining ways to reroute an oil pipeline in North Dakota as it addresses concerns raised by Native American tribes protesting against its construction. Justice and Interior Departments along with the U.S. Army Corps of Engineers halted construction of part of the pipeline in September due...