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Oil and Gas Oil and Gas Storage

  • MUMBAI, Nov 30- Indian Strategic Petroleum Reserves Ltd, the government-owned company mandated to store crude oil for emergency needs, has invited initial bids to fill its storage facility in the southern state of Karnataka. ISPRL has a total of 5.33 million tonnes or 36.87 million barrels of storage facilities across three cities in southern India- Vizag,...

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • LAUNCESTON, Australia, Nov 29- Saudi Arabia's problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia's oil exports head to Asia, and the kingdom's struggles in the region's two biggest importers, China and India, are symptoms of its wider issues in...

  • A ship building yard in Singapore.

    One-time spice capital Malacca is pumping nearly $3B into a plan to put itself in demand in a different hot commodity - oil.

  • Nov 21- Tesoro Logistics LP said it would buy some oil, natural gas and other gathering systems in North Dakota for about $700 million, and will also acquire terminal and storage assets from major shareholder Tesoro Corp for about $400 million. The North Dakota assets, which the company is buying from a group that includes Whiting Oil and Gas Corp, consist of over...

  • Nov 21- Tesoro Logistics LP said on Monday it would buy crude oil, natural gas and other gathering systems in North Dakota from a consortium for about $700 million. Tesoro Logistics also said it would buy terminal and storage assets located in Martinez, California from a subsidiary of oil refiner Tesoro Corp for about $400 million. The consortium selling the...

  • Nov 21- Hedge fund Elliott Management, which owns about 4 percent of Marathon Petroleum Corp, urged the company to conduct a strategic review and consider splitting into three businesses. Marathon should consider spinning off of its chain of gasoline and convenience stores or break into three businesses, focused on retailing, refining and midstream...

  • Oil rig afloat on the waters in Alaska

    The Obama administration on Friday blocked the sale of new permits to drill oil and gas in the Chukchi and Beaufort Seas off Alaska.

  • Nov 10- The volume of natural gas in storage in the United States hit a record high last week, despite one of the smallest builds in history during this year's injection season, as production declines for the first time in over a decade. The U.S. Energy Information Administration on Thursday said stockpiles hit 4.017 trillion cubic feet during the week ended Nov. 4,...

  • Nov 8- The Los Angeles County Board of Supervisors said on Tuesday it would vote on Nov. 9 on a motion calling on California Governor Jerry Brown to continue restricting natural gas injection into Southern California Gas's Aliso Canyon storage facility. The motion asks that injection be halted until California's Public Utilities Commission completes a...

  • ANKARA, Nov 8- Turkey expects the first unit of its planned $20 billion Akkuyu nuclear power plant, being built in collaboration with Russia, to be online by the end of 2023, energy minister Berat Albayrak said on Tuesday. President Tayyip Erdogan has said that work on the Akkuyu project, in southern Turkey, would be accelerated after Russia and Turkey restored...

  • *China's oil data weakens further. A month on, however, Asia's oil markets remain oversupplied, with tankers being chartered for floating storage as onshore facilities are full. There is floating storage in and around Singapore, and Korean storage tanks are full, "said Oystein Berentsen, managing director for crude at oil trading firm Strong Petroleum in...

  • 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.

  • Nov 2- Southern California Gas has sought state permission to re-inject natural gas into its Aliso Canyon storage facility, shut over a year ago after a massive leak forced the evacuation of thousands in the Porter Ranch area of Los Angeles. Before the leak, Aliso Canyon was able to deliver almost 1.9 billion cubic feet per day. "Over the last year we have made...

  • CALGARY, Alberta, Oct 31- The Canadian government on Monday approved the C $1.3 billion expansion of a natural gas gathering pipeline in western Canada belonging to a wholly owned subsidiary of TransCanada Corp, with 36 conditions attached. Dirk Lever, an analyst with AltaCorp Capital in Calgary, said the approval was "absolutely expected" as natural gas...

  • Oct 28- Growing financial troubles for Venezuela's PDVSA have started to snarl its logistics and operations in the Caribbean, where unpaid bills have frustrated suppliers and business partners. The vessel, which has been unable to discharge 520,000 barrels of fuel oil from Isla refinery, has been anchored in the Caribbean sea for more than a month.

  • HOUSTON, Oct 28- Unpaid debts and broken promises are making Venezuelan oil giant PDVSA an outcast in several Caribbean countries where it had been a guest of honor. Business partners in the island nations of Curacao, Bonaire, Jamaica and the Bahamas are turning away from the firm as debts pile up to tugboat operators, ship brokers, maritime agencies and terminal...

  • KRASNAYA POLYANA, Russia, Oct 27- Russian President Vladimir Putin said on Thursday Russia was ready to resume gas supplies to Ukraine at "any second" if Kiev agreed to pre-pay for supplies. Putin said the gas price for Ukraine would not be higher than what Poland pays and might be $180 per 1,000 cubic metres. Russia wants gas storage volumes in Ukraine to be...

  • LAGOS/ LONDON, Nigeria, Oct 27- An angry crowd blocks access to a Chevron facility in Nigeria's oil-producing south to demand jobs and housing, a common refrain from poor communities in the Niger Delta swamps. The incident shows what the government must address when it meets community leaders and militants in Abuja next week in an attempt to end armed attacks on...

  • Crude oil inventories down 553K barrels

    CNBC's Bertha Coombs reports the latest crude oil inventory data from the EIA.