Crude oil
US regulator denies Magellan's proposal to establish an oil marketing arm
NEW YORK (Reuters) — A US regulator on Wednesday denied a proposal by Magellan Midstream Partners LP to establish a marketing affiliate to buy, sell and ship crude oil, creating uncertainty for pipeline competitors with similar arrangements.
Russian minister says OPEC oil deal hurting domestic economy
MOSCOW (Reuters) — Russia's economic growth in October was negatively affected by a global deal between members of OPEC and Russia to curb crude oil production, Russia's economy minister said on Thursday.
US crude inventories fall; big draw at Cushing hub
(Reuters) — US crude oil stockpiles fell last week, with most of the decline coming out of the Cushing, Oklahoma storage hub, while gasoline and distillate inventories rose slightly, the Energy Information Administration said on Wednesday.
Work on Peru oil pipeline to cost more than $800 MM
LIMA (Reuters) — Extending and repairing Peru’s oil pipeline would cost more than $800 MM, the president of the country’s state-run energy company Petroperu said in an interview on Tuesday.
Iran pushes to retain Asia oil buyers as possible US sanctions loom
SINGAPORE (Reuters) — Iran is pushing to retain customers for its oil in Asia, hoping that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as the potential threat of further US sanctions on the country looms.
US crude extends rally to $58, first time since 2015
LONDON (Reuters) — Oil extended gains on Wednesday, with US crude hitting $58/bbl for the first time since July 2015 as a major pipeline cut Canadian crude flows to the United States, where inventories are expected to have fallen further.
S.Dakota regulators say they could revoke Keystone permit after spill
WASHINGTON (Reuters) — South Dakota regulators said on Tuesday they could revoke TransCanada Corp's permit to operate the Keystone crude oil pipeline in the state if an initial probe into last week's spill finds the company violated its license.
Indian Oil Corp studies renewed Venezuelan crude purchases
NEW DELHI (Reuters) — Indian Oil Corp is considering buying Venezuelan crude for the first time in at least 6 yr, in a move that could help the crisis-struck South American nation settle unpaid bills with another state-owned Indian energy firm.
Shell Canada, Syncrude cut synthetic crude volumes
CALGARY, Alberta (Reuters) — Shell Canada, a unit of Royal Dutch Shell, has warned customers synthetic crude volumes from its 255,000-bpd Scotford, Alberta, upgrader may be reduced in November and potentially December, trading sources said on Monday.
TransCanada starts excavation work after South Dakota pipeline leak
(Reuters) — Canada Corp has started initial excavation work at the site of an oil spill on its Keystone pipeline in South Dakota but has not yet pinpointed where the leak came from, a state official said on Monday.
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