Saturday, October 21, 2017

Reuters News

Kurdistan Orders to Resume Full Oil Production after Brief Stoppage

The minister of natural resources for Iraq's Kurdistan, Ashti Hawrami, has ordered the resumption of full production from the Bai Hassan and Avana oilfields after a brief interruption on Monday…

Vitol Close to Acquiring Noble's Oil Business

The world's largest oil trader Vitol Group is nearing a deal to buy Noble Group's global oil liquids business, which analysts had valued at about $1 billion, three people familiar with the matter said on Friday.

Siemens Gamesa Announces Board Reshuffle

Siemens Gamesa announced on Friday a major reshuffle of its board, following a Reuters report about investor concerns about the way Siemens is managing the Spanish-based wind power joint venture.

Gazprom Neft: Work Restarted on Prirazlomnoye Platform

Russia's Gazprom Neft, the oil arm of state gas producer Gazprom, restarted work on its Arctic offshore platform Prirazlomnoye on Oct 5 after three months of maintenance, a company executive told Reuters on Monday.

US Crude Stocks Down Nearly 6 Mln Barrels -EIA

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U.S. crude stocks fell last week while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 5.7 million barrels in the week to October 13…

BP, SOCAR to Ink Caspian Sea Exploration Deal

Azeri state energy company SOCAR plans to sign a production-sharing agreement with BP to jointly explore prospects in a new block, D-230, in the North Absheron basin of the Caspian Sea before the end of 2017…

US Crude Stocks, Distillate Inventories Dip -EIA

U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Thursday. Crude…

Asian Refiners Look to China as 'Harvey' Profit-Bump Wanes

File Image (CREDIT: AdobeStock / (c) Sharrif Che'Lah)

The boost to Asian refiners' profits from the loss of refining capacity in the United States from August's Hurricane Harvey has proved temporary, but the outlook for the rest of the year is still positive.

Oil Rises, but Doubts Swirl on Sustainability

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Barclays raises Q1 2018 Brent forecast to $56 per barrel, but says Q2 2018 prices to fall back to $48 per barrel. Oil prices rose for a third day on Wednesday as OPEC said the market was…

Pemex Restarts Crude Exports from Salina Cruz

Mexican state oil company Pemex aims to finalize the first shipment of crude oil for export later on Monday since restarting operations at its Salina Cruz terminal in southwest Mexico, a company official said on Monday.

Borr Drilling Deal Could Lead to Mexico Contracts

Borr Drilling's acquisition of nine jack-up rigs from Singapore's PPL shipyard could provide it a competitive edge in seeking contracts off Mexico, Danske Bank analysts said. The company…

Universal Energy Faces Millions in Claims

Universal Energy entered voluntary liquidation on Oct 3, tightening credit in Singapore's bunker fuel market. Shipping fuel suppliers are filing millions of dollars in claims over unpaid…

Greenhouse Gas Emissions Rise, Despite Call for Cuts

Greenhouse gas emissions by the world's top 500 companies rose 3.1 percent from 2010 to 2013, far off the cuts urged by the United Nations to limit global warming, a study showed on Monday.

Aker Solutions' Shares Surge, Recovery in Sight

Shares of Norwegian oil services company Aker Solutions surged on Friday on higher than expected quarterly earnings, a better outlook and a new contract, signalling the end of a three-year downturn in its markets.

EPA Abandons Biofuel Program Changes

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The U.S. Environmental Protection Agency has backed off a series of proposed changes to the nation's biofuels policy after a massive backlash from corn-state lawmakers worried the moves would undercut ethanol demand…

Asia Buyers Turn to U.S. for Cheap Crude

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Traders send more U.S. crude to Asia on wide WTI-Brent spread; but China accounts for bulk of region's crude imports from U.S. Asia is set to ramp up crude oil imports from the United States in late 2017 and early next year…

Venezuela Discussing Citgo Collateral Swap with Rosneft

Reuters exclusively reported in July that Rosneft was negotiating to switch its collateral in the refiner for oilfield stakes and a fuel supply deal - a move to avoid complications from U.S.

EPA May Not Replace Obama-era Climate Regs After Repeal

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The U.S. Environmental Protection Agency has not decided whether it will replace the Clean Power Plan - the centerpiece Obama-era climate change regulation - after it moves to repeal it…

Shell, Varo End Germany Refinery Sale Negotiations

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Royal Dutch Shell and Varo Energy have ended talks on Varo's potential acquisition of Shell's 37.5 percent stake in the 220,000 barrels per day PCK refinery in Schwedt, Germany, Varo said.

MET International Plans to Boost LNG Trades

Switzerland-based MET International AG plans to boost its liquefied natural gas (LNG) trades in Europe by 50 to 100 percent next year, the company's chief executive said on Tuesday. Gyorgy…