Oil and Gas Oil and Gas Storage

  • 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.

  • NEW YORK, April 22- Oil prices rose on Friday and notched their third straight week of gains as market sentiment turned more upbeat amid signs a persistent global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in...

  • NEW YORK, April 22- Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persistent global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in the...

  • NEW YORK, April 22- Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in the...

  • NEW YORK, April 22- Oil prices jumped more than 2 percent on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to...

  • LONDON, April 22- Oil prices rose on Friday towards $45 a barrel, heading for a third straight week of gains as market sentiment turned more upbeat despite persistent oversupply. International benchmark Brent crude futures were trading at $44.60 per barrel at 0912 GMT, up 7 cents, or 0.1 percent, from their last settlement. West Texas Intermediate crude was up 14...

  • SINGAPORE, April 22- Oil prices rose on Friday, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $45.10 per barrel at 0632 GMT, up 57 cents, or 1.28 percent from their last settlement. West Texas Intermediate crude was up 62 cents,...

  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for solid weekly gains, as market sentiment becomes more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $44.98 per barrel at 0418 GMT, up 45 cents or 1 percent from their last settlement. West Texas Intermediate crude was...

  • SINGAPORE, April 22- Oil prices rose in Asian trade on Friday, setting crude futures on course for one of their biggest weekly gains this year, as sentiment has become more upbeat despite ongoing oversupply. International benchmark Brent crude futures were trading at $45.09 per barrel at 0054 GMT, up more than half a dollar from their last settlement.