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U.S. energy major ExxonMobil sees a tighter oil market in the medium to longer term, particularly in the absence of further investments in unconventional oil and gas assets, Chief Executive Darren Woods said on Monday. Oil market oversupply is likely to be a short-term issue, with demand from emerging economies set to make meeting global …
Exxon Sees Tighter Oil Market in Medium-Long Term, CEO Says Read More »
By Erwin Seba HOUSTON, Oct 10 (Reuters) – Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day Beaumont, Texas, refinery, people familiar with plant operations said. The 120,000-bpd FCCU was shut on Tuesday night by a malfunction, according to a notice the company filed with the Texas Commission on Environmental …
Exxon Restarts FCCU at Beaumont, Texas, Refinery, Sources Say Read More »
By Erwin Seba Brent and WTI crude prices fall to levels last seen in spring Gaza ceasefire shifts focus to potential oil surplus OPEC production increases, U.S. output seen leading glut HOUSTON, Oct 10 (Reuters) – Brent and U.S. crude futures fell more than $2 a barrel, or more than 3%, on Friday as U.S. …
Trump Tariff Threat Pushes Oil to Five-Month Low Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating, the first reduction in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 547 in the …
US Drillers Cut Oil and Gas Rigs for First Time in 6 Weeks, Baker Hughes Says Read More »
(Reuters Breakingviews) – When it comes to finding black gold, oil companies have easier places to look than in the ground. That logic explains a fraught battle between oil sands firms Cenovus Energy and Strathcona Resources for MEG Energy. Both suitors have lobbed in bids worth just under C$8 billion for their rival, with a vote coming later this …
China said on Friday that it would take necessary measures to protect the legitimate rights of Chinese enterprises and citizens in response to U.S. sanctions related to Iran’s oil trade that targeted a Chinese refinery. China urges the United States to stop resorting to sanctions, Guo Jiakun, a spokesperson for the foreign ministry, told a …
China Pledges to Protect its Firms After US Sanctions on Oil Refinery Read More »
European nations, including France, are among the staunchest supporters of Ukraine in its fight against Russia. Several have also stepped up their imports of Russian energy which pump billions of euros into Moscow’s wartime economy. Well into the fourth year of Russia’s war against Ukraine, the European Union remains in the precarious position of financing …
How Ukraine’s European Allies Fuel Russia’s War Economy Read More »
The newly-expanded Trans Mountain pipeline is allowing oil producers to shift as much as 890,000 barrels a day to Asia Canadian heavy crude prices are entering the fourth quarter at their strongest level since July amid rising Asian demand for the heavy oil sands crude. Heavy Western Canadian Select’s price in Alberta was US$10.50 a barrel below United States benchmark …
Canadian Oil Enters Fourth Quarter at Strongest Level Since July Read More »
Summary Colonial informed employees of changes this week – statement Job cuts follow takeover of Colonial by asset manager Brookfield No operational impact from changes, Colonial says (Reuters) – The Colonial Pipeline Company, operator of the largest U.S. fuel transportation system, informed employees this week it is planning to cut some jobs, according to two …
Colonial Pipeline to Cut Jobs after Brookfield Takover, Sources Say Read More »
By Timothy Gardner Fourth round of US Iran sanctions that target a China refinery US also sanctions first Chinese petrochemical terminal Trump says would like Iran to be able to rebuild WASHINGTON, Oct 9 (Reuters) – The U.S. imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that …
US Imposes Sanctions on China Refinery, Others for Iran Oil Purchases Read More »
