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Oil and Gas Oil and Gas Storage

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • NEW YORK/ LONDON/ SINGAPORE May 19- After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. The stalled drawdowns shed light on the broader challenge facing OPEC- the Organization of the Petroleum Exporting Countries- as it struggles to...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to skepticism about the effectiveness of the organization's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to scepticism about the effectiveness of the organisation's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to skepticism about the effectiveness of the organization's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • LONDON, May 17- Reported oil stocks have fallen much more slowly than OPEC anticipated at the beginning of the year, leading to scepticism about the effectiveness of the organisation's production cuts. But the sluggish response may reflect the repositioning of formerly uncounted stocks to more visible locations rather than a failure to adjust the...

  • BEIJING, May 15- Global oil inventories in floating storage have declined by one-third since the start of the year, a source from the Organization of the Petroleum Exporting Countries told Reuters on Monday.

  • NEW YORK, May 10- The Dakota Access Pipeline leaked 84 gallons of crude oil at a pump station in South Dakota last month, according to state documents, just weeks before the pipeline is set to start commercial service. The spill, the equivalent of two barrels of oil, occurred on April 4 in Tulare township in Spink County, according to South Dakota's Department of...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • NEW YORK, May 8- The energy industry scrutinizes U.S. oil stockpile data every week for evidence that OPEC supply cuts are ending a global crude glut, but growing domestic output means the world's largest oil consumer may be the last place to feel the cuts. Stubbornly high U.S. inventory levels have shaken market confidence that a deal by the Organization of the...

  • SINGAPORE, May 8- Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC- led production cut scheduled to end in June would likely be extended to cover all of 2017, although a relentless increase in U.S. drilling capped gains. Saudi Arabia's energy minister Khalid Al-Falih said on Monday oil markets were rebalancing after years of oversupply,...

  • HOUSTON, May 3- Tallgrass Energy Partners on Wednesday said it had identified 42 potential acquisitions or new projects totaling more than $6.1 billion in investment that could fuel the midstream operator's growth. On Wednesday, rival Magellan Midstream Partners said it was evaluating a new pipeline to transport crude and condensate from the Permian Basin...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • DUBAI, May 3- Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by...

  • *Pembina to pay as much as C $1.52 bln in cash, 99.5 mln in shares. *To pay either 0.4287 of a Pembina share or C $18.65 in cash. After the deal with Veresen, Pembina will own about 5.8 billion cubic feet per day of gas processing infrastructure across Western Canada by 2018..

  • Income from the company's midstream business rose 63.5 percent to $309 million in the first quarter ended March 31. Operating loss in its refining and marketing segment narrowed as margins rose 18 percent to $11.65 per barrel. Midwest, Southeast and Gulf Coast, processed less crude oil due to higher turnaround activity, or scheduled events where an entire unit...

  • Will oil prices continue their rise?

    The oil market looks set to rebalance earlier than expected as OPEC members cut production, according to a report from UBS.

  • In this Sept. 7, 2014, photo, new pipelines to carry gas from Texas to Mexico, eventually reaching the city of Guanajuato, are laid underground near General Bravo, in Nuevo Leon state, Mexico.

    Amid all the talk about border security and NAFTA renegotiation, natural gas is the one element that both the U.S. and Mexico can agree on.

  • A ship building yard in Singapore.

    One-time spice capital Malacca is pumping nearly $3B into a plan to put itself in demand in a different hot commodity - oil.

  • Oil rig afloat on the waters in Alaska

    The Obama administration on Friday blocked the sale of new permits to drill oil and gas in the Chukchi and Beaufort Seas off Alaska.