Crude oil
Russia's Rosneft works on new strategy, plans to hike dividends
SOCHI, Russia (Reuters) — Igor Sechin, the head of Russia's state-controlled and largest oil producer Rosneft, said on Thursday the company was working on a new strategy to counter the challenges of the global oil market and planned to pay higher 2017 dividends.
Traders test OPEC ‘whatever it takes’ resolve to defend oil price
SINGAPORE/LONDON (Reuters) — When OPEC leader Saudi Arabia pledged in May to do "whatever it takes" to defend world oil prices, it didn't expect the market to be testing its resolve just one month later.
EIA: US crude, petroleum product exports rising, trends vary across products
US total crude oil and petroleum product exports more than doubled from 2.4 MMbpd in 2010 to 5.2 MMbpd in 2016. While exports of distillate, gasoline, propane and crude oil have all contributed to the increase, growth rates and market drivers for each product have varied during this period.
Oil headed for weakest first-half performance in two decades
LONDON (Reuters) — Oil was mostly flat on Wednesday, after paring earlier losses, but was set for its biggest price drop in the first half of the year since 1997, a sign that investors are discounting evidence that major producers are sticking to a deal to cut output.
Report: Oil firms could waste trillions if climate targets reached
LONDON (Reuters) — Energy giants including ExxonMobil and Royal Dutch Shell risk wasting more than a third of their budgets on projects that will not be needed if climate targets are to be met, a thinktank report shows.
Fuel oil margins rise to five-year high, potential boon for simple refiners
SINGAPORE (Reuters) — Fuel oil profit margins have surged to their highest in more than 5 yr on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs.
Oil prices hit seven-month lows on global oversupply
LONDON (Reuters) — Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.
Chinese state oil giants take petrol price battle to the pumps
LULIANG, China (Reuters) — Chinese state oil giants Sinopec and PetroChina are waging war at the nation's gas pumps, slashing prices at unprecedented rates in an effort to reclaim sales lost to private local and foreign rivals in the $440 B retail fuel market.
Kinder Morgan Canada raises $4.6 B as Trans Mountain faces block
CALGARY, Alberta (Reuters) — Kinder Morgan Canada Ltd has raised $4.16 B for its Trans Mountain pipeline expansion and could have raised even more, the company said on Friday, despite pressure on banks to back away from the project.
China's 2017 crude oil quotas exceed last year's, teapots take a cut
BEIJING/SINGAPORE (Reuters) — China last week issued a second batch of crude oil import quotas under the so-called "non-state trade" that is higher than for all of the allowances in 2016, but allotments to independent refineries were lower than a year earlier.
- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- China issues extra crude oil import quota to teapot refineries 11/25
- McDermott achieves ISO 50001 Certification for energy management at four fabrication yards 11/25
- DNV certifies first CO2 storage site in Middle East for ADNOC CCS project 11/25
- ExxonMobil plans 1 Blbs/yr of advanced recycling by 2027 11/22
- Gauging the likely Trump effect on U.S. energy and power sectors 11/22
