×

Oil and Gas Oil and Gas Refining

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. President Nicolas Maduro on Thursday vowed to make a $1.2 billion bond payment but said future payments would be...

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. Investors were unsure about what he meant, because U.S. sanctions on Venezuela mean refinancing is off the table.

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. Investors were unsure about what he meant, because U.S. sanctions on Venezuela mean refinancing is off the table.

  • CARACAS, Nov 3- President Nicolas Maduro's cash-strapped socialist government invited Venezuelan bondholders to a Nov. 13 meeting in Caracas as a shock decision to restructure the OPEC nation's foreign debt sent prices plunging on Friday. "A sovereign process of debt renegotiation is beginning," said El Aissami, who is heading Venezuela's debt committee...

  • CARACAS, Nov 3- Venezuelan bonds tumbled on Friday after socialist President Nicolas Maduro announced plans to restructure the OPEC nation's external debt during an unprecedented economic crisis further complicated by U.S. sanctions. Venezuela has few avenues to restructure, however, because of President Donald Trump's sanctions. Venezuela's move could...

  • BANGKOK, Nov 3- Thai oil refiner IRPC Pcl's net profit more than doubled in the third quarter as the subsidiary of energy giant PTT Group benefited from rising oil prices and higher margins on its chemical products. Its net profit surged 149 percent in July-September from a year earlier to 3.25 billion baht, beating a forecast of 2.56 billion baht in a Reuters...

  • MOSCOW, Nov 3- The Russian energy ministry said on Friday that a crude distillation unit was back online at the Yaroslavl oil refinery after it caught fire earlier this week and that the plant was working in normal mode. One worker died and another was injured when CDU-3 caught fire on Wednesday. The refinery, YANOS, is owned by Slavneft which is jointly controlled...

  • HOUSTON, Nov 2- Royal Dutch Shell Plc has shelved a plan to permanently close the gasoline-producing unit at its 227,586- barrel-per-day Convent, Louisiana, oil refinery in early 2018, the company said on Thursday. Shell had planned to permanently decommission the FCCU in early 2018 as part of a plan to integrate the Convent plant with the company's 225,800-...

  • LONDON, Nov 2- Global oil consumption is growing rapidly, helping account for the decline in reported inventories, the recent surge in prices and the shift in futures markets from contango to backwardation. But strong consumption growth has been at least as important as the restraint of production by OPEC and non- OPEC oil exporters in helping rebalance the oil...

  • LONDON, Nov 2- Global oil consumption is growing rapidly, helping account for the decline in reported inventories, the recent surge in prices and the shift in futures markets from contango to backwardation. But strong consumption growth has been at least as important as the restraint of production by OPEC and non- OPEC oil exporters in helping rebalance the oil...

  • HOUSTON, Nov 2- Royal Dutch Shell Plc has canceled a plan to permanently close the gasoline-producing unit at its 227,586 barrel-per-day Convent, Louisiana, oil refinery, two sources familiar with plant operations said on Thursday. Shell had planned to permanently decommission the FCCU in early 2018 as part of a plan to integrate the Convent plant with the...

  • LONDON, Nov 2- A quarter of the world's oil refineries risk closure by 2035 if governments meet targets to limit fossil fuel burning in the fight against global warming, a report released on Thursday said. As a result, companies such as Chevron, Royal Dutch Shell, France' Total and China's largest refiner Sinopec could see profits from refining drop by 70 percent or...

  • Donald Trump

    CVR Energy CEO Jack Lipinski suggested President Donald Trump will pay a price for caving to corn state lawmakers on a battle over biofuels.

  • MOSCOW, Nov 1- One worker has died and another was injured when a crude oil distillation unit at an oil refinery in the Russian city of Yaroslavl caught fire on Wednesday, the refinery said. The refinery, YANOS, is owned by Slavneft, which is controlled equally by Rosneft and Gazprom Neft. The CDU-3 unit has been halted and the fire was put out, while production at the...

  • Nov 1- U.S. oil refiner HollyFrontier Corp on Wednesday reported a better-than-expected quarterly profit, with refining margins getting a fillip from widespread disruptions caused by Hurricane Harvey in Texas. Dallas- based HollyFrontier's shares shot up to a 22- month high of $39.22 after the company also said it was able to record higher sales per barrel...

  • Nov 1- U.S. oil refiner HollyFrontier Corp reported a better-than-expected third-quarter profit, helped by higher refining margins in the aftermath of Hurricane Harvey that swept through Texas. Dallas- based HollyFrontier said on Wednesday its refinery gross margins surged 48 percent to $14.55 per barrel in the quarter ended Sept. 30. Net profit...

  • *New unit expected to cost around $900 mln. SEOUL, Nov 1- The owner of top South Korean oil refiner SK Energy said on Wednesday that it would spend about 1 trillion won to build a new desulfurisation unit by 2020, part of a push to churn out cleaner shipping fuels. Under the plan, a 40,000 barrels per day Vacuum Residue Desulfurisation will be added to an 840,000- bpd...

  • SINGAPORE, Nov 1- India's state-owned refiners are exporting low-sulphur diesel in a seldom seen flow of products as crude processing capacity returns amid a drop in demand due to a new sales tax and as regional flooding cuts fuel use, industry sources told Reuters. While India overall is a net exporter of diesel, shipments are usually done by private refiners...

  • *OPEC output falls by 80,000 bpd to 32.78 million bpd. LONDON, Oct 31- OPEC oil output fell this month by 80,000 barrels per day, a Reuters survey found, as exports from northern Iraq dropped and other producers maintained adherence to a supply cut deal. OPEC's adherence to its pledged supply curbs rose to 92 percent from September's 86 percent, the survey found, as top...

  • SINGAPORE, Oct 31- China's state oil major Sinopec is evaluating two projects in the United States that could boost Gulf Coast crude oil exports and also expand storage facilities in the Caribbean, two people familiar with the matter said on Tuesday, with U.S. With U.S.- China energy trade likely to feature prominently during Trump's visit, the people said one of...