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  • LOS ANGELES, June 20- California's power grid operators warned homes and business on Monday to conserve electricity as rising demand for air conditioning stoked by a record-setting heat wave across the U.S. The alert was the first big test of power generators' ability to meet heightened energy demands in the greater Los Angeles area without natural gas...

  • The alert marked the first big test of power generators' ability to meet heightened energy demands in the greater Los Angeles area without natural gas supplies normally furnished by the now-crippled Aliso Canyon gas storage field, effectively idled since a major well rupture there last fall. Southern California Gas Co, the division of San Diego- based utility...

  • LONDON, June 9- Oil investors are finally buying into the notion that the biggest risk to the price now is likely to be supply falling short of demand, rather than from any stubborn overhang of unwanted crude, the options market shows. In the last year, nearly a million barrels per day have vanished from higher-cost U.S. output, one of the key contributors to the...

  • Traders have been scooping up more gas from Canada, the world's fifth largest producer, in recent months after prices at the AECO hub in Alberta sank to a big discount to the U.S. benchmark. In addition, gas demand is rising as the United States exports more gas to Mexico via pipeline and ramps up exports of liquefied natural gas to the world, traders said.

  • June 2- California natural gas prices spiked to a five-month high after state regulators approved rules to help gas utilities manage the amount of fuel flowing in pipelines due to the ongoing outage of the Aliso Canyon underground storage facility. In October, Southern California Gas, the nation's biggest gas distribution utility, detected a major leak at...

  • The Eagle Ford crude oil tanker sails out of the the NuStar Energy dock at the Port of Corpus Christi in Corpus Christi, Texas.

    While much of the oil industry is bleeding from low prices and oversupply, one segment is getting a boost.

  • leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer. In April, several California agencies prepared a report on potential power shortages related to last year's gas leak at the Aliso Canyon storage facility in the Los Angeles area. That report found significant risks to electricity...

  • May 18- The operator of the California power grid. said on Wednesday that natural gas shortages related to a. leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer.

  • NEW YORK/ LONDON, May 16- Libya will resume oil shipments from the port of Marsa El Hariga after an agreement was reached at talks in Vienna between rival oil officials representing the east and west of the country, Libyan oil sources told Reuters. The NOC in Tripoli, which is keen to work with a new U.N.-backed unity government to revive Libya's oil production, said...

  • LONDON/ SINGAPORE, May 12- Five oil product traders have resigned from Noble Group, Asia's biggest commodity trader by revenue, some of whom are moving to rival trader Glencore, sources with knowledge of the issue said. Three of Noble's London- based gasoline traders are joining Glencore, according to the sources. Noble had also subleased storage tanks in the key...

  • NEW YORK/ HOUSTON May 11- U.S. Midwest refiners are rushing to secure alternatives for crude supply as they worry about prolonged outages after a raging wildfire in Canada shut nearly half of production capacity from the vast oil sands. They pointed to record crude stocks at the U.S. hub of Cushing, Oklahoma, swelling domestic supplies as well as growing imports...

  • SINGAPORE, May 10- Oil prices fell early on Tuesday as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong U.S. dollar weighed on markets. U.S. crude futures were trading at $43.09 per barrel at 0040 GMT, down 35 cents from their last settlement.

  • LONDON, May 9- A growing overhang of gasoline and diesel fuelled a sharp sell-off in oil futures on Monday that reversed a recent rally over the wildfires in the heart of Canada's oil sands region, traders and analysts said. While crude oil supplies have significantly tightened in recent weeks due to outages linked to unrest in Libya, militant attacks in Nigeria,...

  • NEW YORK/ CONKLIN, Alberta, May 8- The mass evacuation of residents from the wildfire-devastated Canadian oil town of Fort McMurray is likely to significantly delay the restart of production, even though energy facilities themselves have escaped major damage from the flames. Energy facilities were barely touched through the first week of Alberta's...

  • More pain for big oil?

    Stewart Glickman, S&P Global Market Intelligence Energy Equity Analyst, and Kyle Cooper, ION Energy Group Consultant, discuss the oil market and big players in the space.

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • LONDON/ TRIPOLI, April 28- Libya's National Oil Corporation has ambitious plans to restore output to pre-2011 levels after years of violence and disruption, officials said. Oil output is now less than a quarter of the 1.6 million barrels per day Libya pumped before Muammar Gaddafi fell in 2011, and the National Oil Corporation in Tripoli hopes to ramp it up...

  • Inside Iran's oil industry

    CNBC's Michelle Caruso-Cabrera reports from Iran about the country's oil industry after the lifting of the nuclear sanctions.

  • CALGARY, Alberta, April 25- Oil and gas producer Husky Energy reported a first-quarter loss on Monday and said it has agreed to sell a partial interest in a package of Canadian midstream energy assets to two Hong Kong- based firms for C $1.7 billion in cash. Husky will retain 35 percent interest and remain operator of the assets, which are located in Alberta and...

  • CALGARY, Alberta, April 25- Husky Energy said on Monday it will sell 65 percent ownership in select midstream energy assets in Canada to Cheung Kong Infrastructure Holdings Ltd and Power Asset Holdings Ltd for C $1.7 billion.