Oil and Gas Oil and Gas Storage

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  • LONDON, Feb 22- Hedge funds have taken an increasingly nuanced position on oil prices since the start of the year, becoming more bearish towards U.S. crude but bullish towards Brent. The latest data from the U.S. Commodity Futures Trading Commission and exchanges show hedge funds and other money managers running near record long and short positions in oil...

  • WILMINGTON, Del., Feb 22- Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. "It's a hellacious problem," said Hugh Ray, a bankruptcy lawyer with McKool Smith in Houston. A judge on New York's influential...

  • LOS ANGELES, Feb 18- An underground natural gas pipeline rupture that caused the largest methane leak ever in California has been permanently capped, paving the way for thousands of displaced Los Angeles residents to return home, state regulators said on Thursday. The stench of fumes spewing from the site sickened scores of people for weeks and prompted the...

  • During an arraignment in Los Angeles County Superior Court in Santa Clarita, attorneys for SoCal Gas also entered a not guilty plea to the additional misdemeanor count of illegally discharging air contaminants, the officials said. If convicted, the division of San Diego- based Sempra Energy could be fined up to $25,000 for each day it failed to report the gas...

  • SoCalGas, a division of San Diego- based Sempra Energy, faces four misdemeanor charges for failing to report the release of hazardous materials from Oct. 23 to Oct. 26, and discharging air contaminants beginning on Oct. 23. Attorneys for SoCalGas will attend Wednesday's arraignment in Los Angeles County Superior Court in Santa Clarita, company spokesman Javier...

  • Noble, which operates in U.S. shale fields and offshore Gulf of Mexico, Israel and West Africa, said it exited the fourth quarter with $5 billion in liquidity. The company could look at monetizing its midstream- pipeline, storage and related- assets, or some of its interest in the Tamar gas field off the coast of Israel, an executive said on the call.

  • SoCalGas, a division of San Diego- based Sempra Energy, faces four misdemeanor charges for failing to report the release of hazardous materials from Oct. 23 to Oct. 26, and discharging air contaminants beginning on Oct. 23. Attorneys for SoCalGas will attend Wednesday's arraignment in Los Angeles County Superior Court in Santa Clarita, said county District...

  • HOUSTON, Feb 16- A saturated oil storage network in the Caribbean is forcing some South American and African producers to keep selling crude at prices that do not cover production costs, brokers and sources told Reuters. Low price environments typically motivate producing and trading companies to store more crude while waiting for a better time to sell, but a...

  • NEW YORK, Feb 12- For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins. Now, at least five refiners- including two of the country's largest- have voluntarily cut output of gasoline and distillate in the most widespread cuts since the global financial...

  • The nightmare my competitors face: Nordic American CEO

    Herbjorn Hansson, Nordic American Tanker CEO, discusses the threat of borrowing too much money in the oil tanker industry.

  • We make things simple for investors: Nordic American CEO

    Herbjorn Hansson, Nordic American Tanker CEO, joins CNBC's "Power Lunch" to discuss all aspects of Nordic American and how the company differs from others.

  • Feb 1- CenterPoint Energy Inc said on Monday it was considering strategic options for its investment in natural gas pipeline company Enable Midstream Partners LP, including a sale or a spinoff. The move follows CenterPoint's $363 million investment in Enable Midstream's preferred securities on Friday. CenterPoint owns a 50 percent general partner...

  • A truck used to carry sand for fracking is washed in a truck stop in Odessa, Texas. As crude oil prices have fallen, many American communities that became dependent on oil revenue are preparing for hard times.

    As oil prices fell toward an 11-year low Tuesday, experts debated what this means for the Texas and broader global economy.

  • An oil pumpjack operates near Williston, North Dakota.

    U.S. House Republicans plan to file a government funding bill on Tuesday night that will include a provision lifting the U.S. ban on crude oil exports.

  • Halliburton

    Halliburton has been forced to delay for a second time its planned $26bn acquisition of rival Baker Hughes, the Financial Times reports.

  • A construction worker specializing in pipe-laying sandblasts a section of pipeline in North Dakota.

    The recent stock dives in energy MLPs and Kinder Morgan’s dividend cut disproves the idea that MLPs are immune to low oil prices.

  • A BP employee uses ultrasound to scan a section of pipe along an oil transit pipeline at Prudhoe Bay oil field on Alaska's North Slope.

    Market watchers scrutinizing fluctuations in volatile crude oil prices shouldn't expect upward moves to last, Dennis Gartman says.

  • Shell said on Thursday it was reviewing its business interests in New Zealand as it seeks to streamline its portfolio amid a slump in energy prices.

  • Pipeline and crude storage tanks in Cushing Oklahoma.

    One of the biggest factors in oil markets next year will be the impact of capital spending cuts on crude production, Tom Petrie said.

  • Pipelines run toward oil storage tanks in Cushing, Oklahoma,

    Energy companies are choosing to store their crude oil stockpiles, rather than sell them on an oversupplied market at such low prices.