Oil and Gas Oil and Gas Storage

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  • Three state regulatory bodies and the city Water and Power Department warned last week the region faced up to 14 days of blackouts this summer as gas-fired power plants go without supplies normally furnished by the crippled Aliso Canyon field when electricity demand peaks. Southern California Gas Co, the division of San Diego- based utility giant Sempra...

  • SINGAPORE, April 12- Oil prices were stabile on Tuesday, with U.S. crude futures holding above $40 per barrel and Brent approaching $43 ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were up 5 cents at $42.88 a barrel, only 18 cents off their 2016- high reached the...

  • SINGAPORE, April 12- Oil prices dipped on Tuesday, but both U.S. and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were at $42.69 a barrel, 14 cents below their last close, but only 37 cents off their 2016- high reached...

  • SINGAPORE, April 12- Oil prices dipped in early Asian trade on Tuesday, but both U.S. and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply. International Brent crude futures were at $42.70 a barrel, 13 cents below their last close but only 36 cents off...

  • The oil and natural gas producer, which did not identify the buyers, said it will divest all of its Wyoming upstream and midstream assets for $870 million, excluding closing adjustments. The Wyoming properties, mainly waterflood developments in the Big Horn and Wind River basins, averaged 16,500 barrels of oil equivalent per day in first quarter 2016...

  • NEW YORK, April 8- TransCanada Corp expects to restart its Keystone crude pipeline by Saturday, upon receiving conditional approval from the Pipeline and Hazardous Materials Safety Administration, the company said in emailed statement on Friday. The pipeline, which delivers crude from Hardisty, Alberta, to Cushing, Oklahoma and to Illinois, was shut last...

  • LONDON, April 8- Oil refineries are shifting into high gear to produce as much gasoline as possible for the world's fuel-hungry drivers- kicking the problem of a worsening diesel glut further down the road. The "margin" or profit derived from refining crude into diesel has plunged in Europe, hitting multi-year lows this week as demand for the fuel- used heavily for...

  • LOS ANGELES, April 5- Electrical generators in the greater Los Angeles area face up to 14 days of natural gas shortages severe enough to cause blackouts this summer in the aftermath of the months-long methane leak from the Aliso Canyon gas storage field, state energy officials warned on Tuesday. Aliso Canyon, owned by Southern California Gas Co, a division of San...

  • April 5- California state and local energy agencies on Tuesday released a plan to help keep the lights on in the greater Los Angeles area this summer, following a major natural gas leak at the Aliso Canyon underground natural gas storage facility. Currently, Aliso Canyon, owned by Sempra Energy's Southern California Gas unit, is prohibited from injecting and...

  • Kuwait's OPEC governor expects output freeze

    Kuwait's OPEC governor Nawal Al-Fuzaia says all signs point to an initial agreement to freeze oil production levels.

  • CUSHING, OK, April 5- From the air above this small Oklahoma town, the 300 steel oil storage tanks that dot the landscape appear filled to the brim, their floating lids bobbing atop more than 65 millions of barrels of oil. Such worries make weekly estimates of Cushing stockpiles from the Energy Information Administration one of the hottest market indicators.

  • The Interagency Task Force on Natural Gas Storage Safety to look at the leak at the Aliso Canyon leak will be chaired by officials from the Department of Energy and the Department of Transportation's pipeline safety office. A months-long leak at the Aliso Canyon storage field made scores of people ill and forced more the temporary relocation of more than...

  • *Iran has not regained access to Egypt terminal-traders. *Tehran sent up to 200,000 bpd to Europe via Egypt in 2011. LONDON, March 24- Iranian oil flows to Europe have begun to pick up from a slow start after sanctions were lifted in January, but trading sources say a lack of access to storage part-owned by Tehran's Gulf Arab rivals now looms large on a list of obstacles.

  • *OPEC, Russia output freeze may be' meaningless'- IEA. LONDON, March 24- Oil fell below $40 a barrel on Thursday, heading for the biggest weekly slide in two months, dented by record-high stockpiles in the United States and a stronger dollar. The continued rise in stockpiles to record levels has reversed a sharp rebound in prices driven by plans among major producers,...

  • TOKYO, March 24- U.S. oil prices fell in Asian trading on Thursday, adding to a slump in the previous session, after stockpiles rose for the sixth week to another record, sapping the strength of a two-month rally in prices. U.S. crude futures were down 10 cents at $39.69 a barrel at 0302 GMT, trading further below the important $40 level. "OPEC production is still high and...

  • TOKYO, March 24- Oil prices dropped in early Asian trading on Thursday, adding to a slump in the previous session after U.S. stockpiles rose for a sixth week to another record, sapping the strength of a two-month rally in prices. U.S. crude futures were down 23 cents at $39.56 a barrel at 0047 GMT, trading further below the important $40 level. They closed down $1.66, or 4...

  • NEW YORK, March 23- Oil prices fell more than 2 percent on Wednesday as traders awaited U.S. government data on crude inventories after a preliminary report from an industry group showed a higher-than-expected stock build, rekindling worries of a glut. U.S. crude futures were down $1, or 2.5 percent, at $40.45 a barrel by 10:03 a.m. EDT, after touching a session low...

  • LONDON, March 23- Oil prices eased on Wednesday after figures from an industry group showed U.S. crude stockpiles rose last week by more than expected, reinforcing concerns that a global glut continues unabated. U.S. crude futures fell 33 cents to $41.12 a barrel by 0945 GMT. Brent crude was down 25 cents a barrel at $41.54, still up more than 50 percent from a...

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."