×

Oil and Gas Oil and Gas Storage

  • BEIJING, May 15- Global oil inventories in floating storage have declined by one-third since the start of the year, a source from the Organization of the Petroleum Exporting Countries told Reuters on Monday.

  • NEW YORK, May 10- The Dakota Access Pipeline leaked 84 gallons of crude oil at a pump station in South Dakota last month, according to state documents, just weeks before the pipeline is set to start commercial service. The spill, the equivalent of two barrels of oil, occurred on April 4 in Tulare township in Spink County, according to South Dakota's Department of...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • SINGAPORE, May 8- Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC- led production cut scheduled to end in June would likely be extended to cover all of 2017, although a relentless increase in U.S. drilling capped gains. Saudi Arabia's energy minister Khalid Al-Falih said on Monday oil markets were rebalancing after years of oversupply,...

  • HOUSTON, May 3- Tallgrass Energy Partners on Wednesday said it had identified 42 potential acquisitions or new projects totaling more than $6.1 billion in investment that could fuel the midstream operator's growth. On Wednesday, rival Magellan Midstream Partners said it was evaluating a new pipeline to transport crude and condensate from the Permian Basin...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • *Pembina to pay as much as C $1.52 bln in cash, 99.5 mln in shares. *To pay either 0.4287 of a Pembina share or C $18.65 in cash. After the deal with Veresen, Pembina will own about 5.8 billion cubic feet per day of gas processing infrastructure across Western Canada by 2018..

  • Income from the company's midstream business rose 63.5 percent to $309 million in the first quarter ended March 31. Operating loss in its refining and marketing segment narrowed as margins rose 18 percent to $11.65 per barrel. Midwest, Southeast and Gulf Coast, processed less crude oil due to higher turnaround activity, or scheduled events where an entire unit...

  • *Chinese demand, more crude deliveries to Asia trigger sales. *Crude oil shipments to Asia to hit record levels in April. SINGAPORE, April 20- Crude oil sales from storage tanks around Singapore rose to an 11- month high in March, with nearly half of the volumes going to China and traders clearing inventories ahead of record shipments to Asia expected to arrive in...

  • HOUSTON, April 18- Centurion Midstream Group LLC said it acquired a petroleum marketing and transportation business that operates in West Texas from Agave Energy Holdings, a subsidiary of Lucid Energy Group. Price of the purchase was not disclosed. Ken Douglas, Centurion's chief financial officer, said the deal will expand the Dallas- based company's Permian...

  • PARIS, April 12- France could face a tight gas supply in the 2017/ 18 winter period because suppliers do not have enough reserve storage capacity as required by law to meet demand if there is a prolonged cold snap, said major gas storage company Storengy. France had to depend heavily on those storages in the past 2016/ 17 winter to keep heating and power generation...

  • LONDON, April 11- OPEC appears to be slowly winning the battle against a global overhang of crude and oil products as inventories in onshore and floating storage decline. The Organization of the Petroleum Exporting Countries explicitly said a joint deal with non- OPEC producers to cut some 1.8 million bpd in the first half of 2017 was aimed at slashing an excess...

  • *OPEC trying to help market rebalance, ease oversupply. LONDON, April 6- The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. The five top traders, who also include Mercuria and Trafigura, expect OPEC to extend output cuts into the...

  • *Shipping data shows fall in tanker supplies as OPEC cuts. Prices for front-month Brent crude futures, the international benchmark for oil, were at $54.40 per barrel at 0345 GMT, up 23 cents, or 0.4 percent, from their last close. In the United States, West Texas Intermediate crude futures were up 27 cents, or 0.5 percent, at $51.30 a barrel.

  • Prices for front-month Brent crude futures, the international benchmark for oil, were at $54.28 per barrel at 0149 GMT, up 11 cents from their last close. In the United States, West Texas Intermediate crude futures were up 16 cents at $51.19 a barrel. "We have seen a significant reduction in global oil supply since January, with oil on water going from 978 million...

  • HOUSTON, April 4- Plains All American Pipeline and Magellan Midstream Partners filed an amended breach of contract lawsuit seeking more than $300 million in damages from Stampede Energy over an oil transport deal, according to court documents. Stampede, a privately held midstream operator, failed to meet its minimum volume requirements on the BridgeTex...

  • RIO DE JANEIRO, April 4- In September, police investigating a wave of killings in the northern Rio de Janeiro suburbs followed a tip to the isolated scrubland near the massive Duque de Caxias oil refinery. The discovery highlighted a fast-growing criminal enterprise in Brazil's oil heartland, between Rio de Janeiro and Sao Paulo. The racket is part of a larger...

  • LONDON, March 31- Swiss-based trading and mining giant Glencore is selling a bundle of its global oil storage stakes, sources told Reuters, following similar moves by rivals as a boom period for storage shows signs of nearing to an end. As the Organization of the Petroleum Exporting Countries decided to cut oil output at the end of 2016 to prop up prices and help...