Oil and Gas Oil and Gas Refining

  • TRIPOLI/BENGHAZI, Libya, Dec 18- Libya's state oil company NOC has declared force majeure at the country's largest oilfield, El Sharara, a week after announcing a contractual waiver on exports from the field following its seizure by protesters. El Sharara, which produces 315,000 barrels per day for the OPEC member, was taken over on Dec. 8 by groups of tribesmen,...

  • WINNIPEG, Manitoba, Dec 18- The Canadian. Natural Resources Minister Amarjeet Sohi said in Edmonton, Alberta, that the aid package would include C $1 billion for energy exporters to invest in new technologies, boost working capital or find new markets. The struggles of the oil sector, concentrated in the western province of Alberta, have generated rallies in the...

  • *El Sharara was seized by groups of guards, tribesmen on Dec. 8. TRIPOLI, Dec 18- Libya's state oil firm NOC has declared force majeure on operations at the country's largest oilfield, El Sharara, a week after it announced a contractual waiver on exports from the field following its seizure by protesters. The 315,000 barrels a day field, located in the south of the North...

  • TRIPOLI, Dec 18- Libya's National Oil Company has declared force majeure on operations at the country's largest oilfield, El Sharara, a week after the firm announced a contractual waiver on exports from the field following its seizure by militants. Exports from the smaller El Feel oilfield were continuing, field engineers said, as workers had maintained its...

  • SANTIAGO, Dec 17- Chilean law enforcement officials are investigating the delivery of Iranian crude oil to state energy company ENAP as a possible source of the noxious fumes that caused hundreds of people to seek hospital treatment in August, a prosecutors' office told Reuters. Police and prosecutors raided ENAP's oil refinery and maritime port in Hualpen...

  • *Slowing economic growth in China, Europe drags on oil markets. NEW YORK, Dec 17- Oil prices fell more than 2 percent on Monday, with U.S. crude tumbling below $50 a barrel, on signs of oversupply in the United States and as investor concern over global economic growth and fuel demand grows. Benchmark U.S. crude futures settled below $50 for the first time since October...

  • *Slowing economic growth in China, Europe drags on oil markets. NEW YORK, Dec 17- Oil prices fell more than 2 percent on Monday, with U.S. crude hitting the lowest since September 2017, on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand. Brent crude oil fell 67 cents, or...

  • *Slowing economic growth in China, Europe drags on oil markets. NEW YORK, Dec 17- Oil prices fell about 1 percent on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over global economic growth and fuel demand. It's definitely pointing to the concern that there's more supply and demand is weakening, "...

  • *Slowing economic growth in China, Europe drags on oil markets. "Oil prices are regaining some ground on the back of bullish rhetoric from OPEC officials," said Stephen Brennock, analyst at London brokerage PVM Oil. OPEC and its allies have agreed to reduce output by 1.2 million barrels per day from January, in a move to be reviewed at a meeting in April.

  • *Slowing economic growth in China, Europe drags on oil markets. OPEC and its allies have agreed to reduce output by 1.2 million barrels per day from January, in a move to be reviewed at a meeting in April. But U.S. shale output is growing steadily, taking market share from the big Middle East oil producers in OPEC and making it harder for them to balance their budgets.

  • *Slowing economic growth in China, Europe drags on oil markets. U.S. shale output is growing steadily, taking market share from the big Middle East oil producers in OPEC and making it harder for them to balance their budgets. "I don't believe OPEC cuts will work this time around with Qatar going out and Iran refusing to cut, while there's a big question mark when Russia...

  • "Despite OPEC and Russia agreeing to reduce oil production by a further 1.2 million barrels per day at the recent OPEC meeting, prices have fallen as the market awaits evidence that the cuts will balance the market," ANZ Bank said on Monday. The Organisation of the Petroleum Exporting Countries and its Russia- led allies have agreed to curb output from January by...

  • NEW YORK, Dec 14- Oil prices dropped about 2 percent on Friday, weighed down by falling U.S. stock markets, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer. Brent crude futures fell $1.17 to settle at $60.28 a barrel, a 1.90 percent loss. "The oil complex remains vulnerable to heavy selling into the equities...

  • NEW YORK, Dec 14- Oil prices dropped more than one percent on Friday, weighed down by a falling U.S. stock market, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer. "The oil complex remains vulnerable to heavy selling into the equities especially when combined with a strengthening in the U.S. dollar as is the case so...

  • *OPEC- led deal to cut supply supports crude prices. LONDON, Dec 14- Oil prices slipped on Friday after China reported slower economic growth, pointing to lower fuel demand in the world's biggest oil importer, although market sentiment was supported by supply cuts agreed last week by major crude producers. China, the world's No.2 economy, on Friday reported some of...

  • *OPEC- led deal to cut supply supports crude prices. LONDON, Dec 14- Oil prices slipped on Friday after China reported slower economic growth, pointing to lower fuel demand in the world's biggest oil importer, although market sentiment was supported by supply cuts agreed last week by major crude producers. "For the time being until the OPEC cuts start kicking in, the...

  • *OPEC- led deal to cut supply supports crude prices. LONDON, Dec 14- Oil prices slipped on Friday after China reported slower economic growth, pointing to lower fuel demand in the world's biggest oil importer, although market sentiment was supported by supply cuts agreed last week by major crude producers. "For the time being until the OPEC cuts start kicking in, the...

  • *China economic data stokes worries over oil demand outlook. SINGAPORE, Dec 14- Oil prices dipped on Friday amid concerns over slowing economic growth in China and as investors cashed in on gains of over 2 percent from the previous session, although supply cuts agreed last week by major crude producers offered some support. "For the time being until the OPEC cuts...

  • *China economic data stokes worries over oil demand outlook. SINGAPORE, Dec 14- Oil prices dipped on Friday amid concerns over slowing economic growth in China and as investors cashed in on gains of over 2 percent from the previous session, although supply cuts agreed last week by major crude producers offered some support. "For the time being until the OPEC cuts...

  • China, the world's second-largest economy and the largest crude importer, on Friday reported some of the slowest retail sales and industrial output growth in years for November, highlighting the risks of the country's trade dispute with the United States. Oil refinery throughput in November in China fell from October, which was the second-highest month on...