×

Oil and Gas Oil and Gas Storage

  • *Total eyes cut-price stake in Iran LNG project-sources. *Iran seeks to jumpstart gas exports after sanctions. Iran shares the world's biggest gas field with Qatar, which has used the reserves to build over a dozen giant liquefaction plants to chill gas into a liquid for export on ships-- a move Iran is keen to replicate.

  • *OPEC compliance 88 percent based on industry average. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. NEW YORK, Feb 24- Oil prices fell about 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

  • *OPEC compliance 88 percent based on industry average. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. NEW YORK, Feb 24- Oil prices slid nearly 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

  • *OPEC compliance 88 percent based on industry average. NEW YORK, Feb 24- Oil prices fell on Friday despite OPEC pledges to boost compliance with output curbs, on concerns over rising U.S. supplies and as traders begin to pull out crude barrels from pricey storage as physical markets show signs of tightening. "The oil market remains focused on the global rebalancing...

  • *OPEC/ non- OPEC deal compliance at 86 pct in Jan- sources. *U.S., Asia traders start selling most costly stored crude. Their joint compliance with a production-reduction deal reached at the end of last year was around 86 percent in January, according to OPEC sources quoting results from a technical committee meeting held this week.

  • West Texas Intermediate was down 16 cents at $54.29 by 0728 GMT. While OPEC appears to be sticking to its deal, producers that were not part of the deal, particularly U.S. shale drillers, have increased output, driving the growth in inventories in the United States, the world's biggest oil consumer. "Current oil prices are neither sustainable for OPEC or the industry,"...

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • *Offers made to selected buyers in Asia. SINGAPORE, Feb 16- Abu Dhabi National Oil Company has offered Murban crude to be loaded in April from its oil storage in South Korea, three trade sources said on Thursday. The rare offer was made to a pool of selected buyers in Asia and ADNOC did not specify what volume it planned to sell, they said.

  • LONDON, Feb 10- Brent futures prices indicate the crude market is expected to move into a deficit with a significant draw down in stocks from the middle of the year. On Feb. 9, the structure of Brent futures prices provided around 37 cents per barrel to hold stocks between April and May and around 33 cents to hold stocks from May to June. But the spread from June to July is...

  • LONDON, Feb 10- Brent futures prices indicate the crude market is expected to move into a deficit with a significant draw down in stocks from the middle of the year. On Feb. 9, the structure of Brent futures prices provided around 37 cents per barrel to hold stocks between April and May and around 33 cents to hold stocks from May to June. But the spread from June to July is...

  • *says opened a proceeding at its public voting meeting on Thursday to determine feasibility of minimizing or eliminating the use of Southern California Gas Company's Aliso Canyon natural gas storage facility while still maintaining energy and electric reliability for the Los Angeles region. SoCalGas is owned by California energy company Sempra Energy...

  • *says Southern California Gas Co will pay $8.5 million, including funding for an independent health study, under a settlement with the SCAQMD resulting from the massive gas leak at the company's Aliso Canyon storage facility. *says the settlement specifies that of the $8.5 million, $1 million will be designated for a SCAQMD-sponsored health study; $5.65...

  • Jan 26- A small hole on a weld between two segments of a shallow four-inch pipe has been discovered on a pipeline that leaked some 200,000 liters of oil onto aboriginal land in Saskatchewan last week, provincial officials said on Thursday. They also said the roughly 2- kilometer- stretch of pipeline, which is owned by Tundra Energy Marketing Inc and feeds into the...

  • Jan 25- Southern California Gas Co said it withdrew natural gas from its Aliso Canyon storage facility for a second day in a row on Wednesday to support the reliability of the region's gas and electricity systems during a cold snap. SoCalGas has only limited access to fuel at Aliso Canyon following a massive methane leak from the facility, located in the Porter...

  • Jan 24- Plains All American Pipeline LP said it would buy a crude oil gathering system in the Permian Basin for about $1.22 billion, bolstering its presence in the top U.S. oil field. In a separate deal, Targa Resources Corp said it would buy Outrigger Energy's assets in the Delaware and Midland basins, two of the main portions of the Permian Basin, for up to $1.5...

  • Jan 24- Plains All American Pipeline LP said on Tuesday it bought a crude oil gathering system in the Permian Basin for about $1.2 billion. The company also entered into sales agreements of nearly $380 million, which include two pending transactions and the completion of a third in January. Plains All American said the crude oil gathering system is located in the...

  • The utility has limited access to fuel in its giant Aliso Canyon gas storage facility in Los Angeles following a massive methane leak there between October 2015- February 2016.. SoCalGas, a unit of California energy company Sempra energy, serves 21.6 million consumers in Southern California. California agencies said in a study looking at the Aliso Canyon...

  • Will oil prices continue their rise?

    The oil market looks set to rebalance earlier than expected as OPEC members cut production, according to a report from UBS.

  • BREGA, Libya, Jan 19- Guards and officials at major ports in Libya's eastern Oil Crescent say they are hoping foreign workers will soon return as they struggle to build on output gains with meagre resources. The lifting of a long blockade at the ports helped Libya's oil output to more than double to over 600,000 barrels per day. Recent and future gains threaten to...

  • LOS ANGELES, Jan 17- California regulators on Tuesday took a step toward reopening the Aliso Canyon natural gas storage facility after a major methane leak in 2015 forced the evacuation of thousands of nearby residents, but new injections will not be authorized until the public has the chance to weigh in. SoCalGas, a unit of California energy company Sempra...