×

Oil and Gas Oil and Gas Refining

  • SINGAPORE, Aug 15- Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before when a stronger U.S. dollar and a drop in Chinese refining runs hit the market. Global benchmark Brent crude futures were up 6 cents, or 0.12 percent, at $50.79 at 0122 GMT. West Texas Intermediate crude futures were also up 6 cents, or 0.13 percent, at $47.65 a...

  • SINGAPORE, Aug 15- Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before when a stronger U.S. dollar and a drop in Chinese refining runs hit the market. Global benchmark Brent crude futures were up 6 cents, or 0.12 percent, at $50.79 at 0122 GMT. West Texas Intermediate crude futures were also up 6 cents, or 0.13 percent, at $47.65 a...

  • *Libya's NOC says investigating Sharara security violations. NEW YORK, Aug 14- Oil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya. "It is a strong dollar, concern about...

  • CALGARY, Alberta, Aug 14- M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy, on Monday urged the Calgary- based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. Monday's letter, signed by M&G's Global Dividend Fund manager Stuart Rhodes, said the fund had been trying to apply "...

  • CALGARY, Alberta, Aug 14- M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy, on Monday urged the Calgary- based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. Monday's letter, signed by M&G's Global Dividend Fund manager Stuart Rhodes, said the fund had been trying to apply "...

  • MEXICO CITY, Aug 14- Mexico's state-run Pemex has started talks with oil producers to swap a portion of its output of heavy Maya crude for lighter imported grades that better fit some of its refineries, the chief of industrial transformation said. Mexico needs medium sweet crudes to ramp up oil processing and distillation at some refineries that have been...

  • MEXICO CITY, Aug 14- Mexico's state-run firm Pemex has started talks with oil producers to swap a portion of its output of heavy Maya crude for lighter grades that better fit some of its refineries, the chief of industrial transformation, Carlos Murrieta, told Reuters.

  • CALGARY, Alberta, Aug 14- Canadian integrated oil company Husky Energy Inc said on Monday it is buying a refinery in the United States from Calumet Specialty Products Partners LP for $435 million in cash. Husky produces primarily heavy oil from oil sands and conventional operations in western Canada and the deal will help it manage exposure to depressed global...

  • *Libya's NOC says investigating security violations at Sharara. NEW YORK, Aug 14- Oil prices were flat on Monday, falling early on worries about Chinese demand but then recovering from session lows on questions about potential reductions in crude supply from Libya. Libya's National Oil Corporation said an investigation had been opened into recent security...

  • BOGOTA, Aug 14- Colombia's state oil company Ecopetrol SA will focus exploration efforts in the next few years on unconventional deposits in the center and north of the country in a bid to increase reserves, its chief executive said. Ecopetrol will also continue efforts to develop its mature fields to boost recovery, as well as explore offshore in the Caribbean,...

  • Aug 14- Canadian integrated oil company Husky Energy Inc said it would buy a refinery in the United States from Calumet Specialty Products Partners LP for $435 million in cash. Shares of Calumet rose 13 percent to $6.20 in early trading on the Nasdaq, while Husky's shares rose nearly 2 percent to C $14.91 on the Toronto Stock Exchange. BMO Capital Markets was...

  • *Libya's NOC says investigating security violations at Sharara. Chinese refineries processed 10.71 million barrels per day in July, National Bureau of Statistics data showed, down around 500,000 bpd from June and the lowest rate since September 2016. Global benchmark Brent crude futures were at $51.74 a barrel at 1134 GMT, down 36 cents from Friday's close.

  • *Libya's NOC says investigating security violations at Sharara. Chinese refineries processed 10.71 million barrels per day in July, National Bureau of Statistics data showed, down around 500,000 bpd from June and the lowest rate since September 2016. Global benchmark Brent crude futures were down 27 cents from Friday's close at $51.83 a barrel at 0846 GMT.

  • SINGAPORE, Aug 14- Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high. Brent crude futures, the international benchmark for oil prices, were at $51.92 per barrel at 0652 GMT, down 18 cents, or 0.4 percent, from their last...

  • SINGAPORE, Aug 14- Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high. Brent crude futures, the international benchmark for oil prices, were at $52.00 per barrel at 0504 GMT, down 10 cents, or 0.2 percent, from their last...

  • BEIJING, Aug 14- Chinese oil refineries operated in July at their lowest daily rates since September 2016, official data showed on Monday, to ease brimming inventories as state-owned oil giants faced off independents in a retail petrol price war. China, the world's second-largest oil consumer, processed 45.5 million tonnes of crude in July, or 10.71 million...

  • SINGAPORE, Aug 14- Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high. Brent crude futures, the international benchmark for oil prices, were at $51.94 per barrel at 0253 GMT, down 16 cents, or 0.3 percent, from their last...

  • NEW YORK, Aug 13- For the oil-trading community, the fall of hedge fund manager Andy Hall signaled a heavy blow, but while commodity funds continue to shutter their doors, some are finding other ways to make money, including trading refining margins and calendar spreads. Commodity hedge funds have dwindled in recent years as oil prices slumped, leaving only a...

  • NEW YORK, Aug 11- U.S. refiners such as PBF Energy and Valero Energy are heading into the winter season on their best footing in years, as months of surprisingly robust distillate demand has eaten away at stubbornly high inventories and boosted margins. Distillate days of supply, which takes into account the pull of exports, last week hit a two-year low at 34 days,...

  • Caracas/ Houston, Aug 11- Venezuelas unraveling socialist government is increasingly turning to ally Russia for the cash and credit it needs to survive and offering prized state-owned oil assets in return, sources familiar with the negotiations told Reuters. Venezuela's state-owned oil firm, Petroleos de Venezuela, has been secretly negotiating since at...