Oil & Gas Sector News

Latest News

  • BP, Shell evacuating some staff from U.S. Gulf on storm threat Reuters - UK Focus - Sat, Aug 27, 2016 01:04 BST

    Oil giants BP and Royal Dutch Shell said on Friday they have started securing facilities and evacuating non-essential personnel from their drilling rigs and platforms in U.S. Gulf of Mexico as a precaution ...

  • North Sea Crude-Forties edges up, Oct programmes in focus Reuters - UK Focus - Fri, Aug 26, 2016 17:02 BST

    * North Sea Forties edged higher on Friday as lower than expected production lent support. * A number of September-loading Forties cargoes have had their loading dates delayed, and at least two cargoes ...

  • Europe Gasoline/Naphtha-Cracks gain on stronger exports to U.S. Reuters - UK Focus - Fri, Aug 26, 2016 16:47 BST

    Gasoline refining margins in northwest Europe rose on Friday to above $9 a barrel amid increased exports to the U.S. East Coast due to refinery outages. * Gasoline tanker bookings from Europe to the U.S. ...

  • Slovakia to remain gas transit route even with Nord Stream 2 -PM Fico Reuters - UK Focus - Fri, Aug 26, 2016 13:24 BST

    Slovakia will remain a gas transit route even if Russia's Gazprom and its European partners build the Nord Stream 2 pipeline bypassing Ukraine, Slovak Prime Minister Robert Fico said late on Thursday. Russia currently ships natural gas via Ukraine and Slovakia into western Europe but seeks largely to bypass the route from …

  • Exports of Norwegian gas to Britain will not be affected by Britain's vote to leave the European Union (KSE: 000910.KS - news) , Norway's oil and energy minister told Reuters. The Nordic country is Britain's top foreign gas supplier, accounting for some 40 percent of all supplies in 2015. "There is no reason to believe …

  • North Sea Crude-Forties steady, lower output delays some cargoes Reuters - UK Focus - Thu, Aug 25, 2016 17:17 BST

    * North Sea Forties held broadly unchanged on Thursday at parity with dated Brent as lower-than-expected production tightened supplies, lending support. * A number of September-loading Forties cargoes ...

  • Europe Gasoline/Naphtha-Gasoline margins slip as ARA inventories build Reuters - UK Focus - Thu, Aug 25, 2016 16:59 BST

    Gasoline refining margins in northwest Europe eased on Thursday as stocks in the ARA storage hub climbed, but continued export demand gave cracks a floor. * Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp ...

  • Britain's Big Six energy suppliers stem customer exodus as prices rebound Reuters - UK Focus - Thu, Aug 25, 2016 16:40 BST

    Several small suppliers, including Ovo Energy and Co-operative Energy, have now hiked their tarrifs to cover their wholesale costs. "Now (Frankfurt: 11N.F - news) that commodity prices have bounced back, the discount small suppliers can offer versus the Big Six has been shrinking," said Roland Vetter, head of research …

  • Nord Stream 2 partners rework funding after joint venture collapses Reuters - UK Focus - Thu, Aug 25, 2016 14:36 BST

    FRANKFURT/MILAN, Aug 25 (Reuters) - Western partners in Russia's Gazprom-led gas pipeline extension to Europe are examining alternative ways to fund it after Poland's cartel office blocked its clearance last month, company and legal sources say. Poland's rejection was based on concerns that Gazprom and its partners could …

  • Can OPEC save BP plc and Royal Dutch Shell plc? Fool.co.uk - Thu, Aug 25, 2016 07:00 BST

    Does OPEC need to take action to save dividends at BP plc (LON: BP) and Royal Dutch Shell plc (LON: RDSB)?

  • FOREX-Dollar advances as traders look to Yellen for rate hike clues Reuters - UK Focus - Wed, Aug 24, 2016 21:06 BST

    The dollar rose on Wednesday in thin trading, helped by data the previous day showing a surge in U.S. new home sales, but gains were capped by uncertainty ahead of Federal Reserve Chair Janet Yellen's speech at a central bankers' conference on Friday. Investors expect her to provide guidance on the Fed's next rate hike. …

  • Gasoline refining margins in northwest Europe rose sharply as oil futures sunk and in reaction to perceived tightening of U.S. supplies due to hurricane fears and an outage at a major refinery, which could ...

  • North Sea Crude-Brent diffs bounce, Forties-laden VLCC does U-turn Reuters - UK Focus - Wed, Aug 24, 2016 17:29 BST

    * North Sea Brent crude differentials bounced on Wednesday, recovering from the previous day's two-week lows, while Forties held broadly unchanged, despite the unexpected return of a full supertanker to ...

  • Oil refiners face reprieve as maintenance tames fuel glut Reuters - UK Focus - Wed, Aug 24, 2016 16:39 BST

    Oil refiners reeling from tumbling profits can expect some reprieve in the coming weeks as lower production will tame a huge global excess of gasoline and diesel. Dozens of plants that will switch off for regular autumn maintenance will help slow the downward spiral in margins (the profit from refining crude into oil products) …

  • FOREX-Dollar gains as traders await Fed rate hike clues Reuters - UK Focus - Wed, Aug 24, 2016 15:54 BST

    Policymakers from across the globe will gather at the U.S. mountain resort of Jackson Hole at the end of the week, where the focus lies squarely on a speech by Federal Reserve Chair Janet Yellen. Investors expect Yellen to provide guidance as to next the interest rate hike from the Fed. The last rate increase was in December, …

  • Kenya finalises agreement for development of crude oil pipeline Reuters - UK Focus - Wed, Aug 24, 2016 12:34 BST

    Kenya has finalised an agreement with oil explorer Tullow Oil (LSE: TLW.L - news) and its partners Africa Oil (LSE: 0QVL.L - news) and A.P. Moller-Maersk for the development of a crude oil pipeline, as it bids to become an oil exporter, the president's office said. Tullow and Africa Oil first struck oil in the Lokichar …

  • * North Sea Brent crude differentials fell to their lowest in two weeks on Tuesday, while Forties differentials edged up after the September-loading programme shrank. * In terms of flows, Vitol withdrew ...

  • Europe Gasoline/Naphtha-Gasoline cracks slide, exports cap losses Reuters - UK Focus - Tue, Aug 23, 2016 17:09 BST

    Gasoline refining margins in northwest Europe fell sharply on Tuesday as crude prices advanced, but stronger export demand to the U.S. and West Africa and refinery outages provided a floor. * Declining ...

  • ConocoPhillips hits snag in Senegal deepwater stake sale to Woodside Reuters - UK Focus - Tue, Aug 23, 2016 14:55 BST

    ConocoPhillips' plan to sell its stake in an oil find off Senegal to Woodside Petroleum hit a speed-bump on Tuesday as a junior partner attempted to buy time to pre-empt the deal at the same time it announced an increase in the size of the field. ConocoPhillips agreed in July to sell its 35 percent stake in the deepwater …

  • Iraq asks foreign companies to raise oil output, exports Reuters - UK Focus - Tue, Aug 23, 2016 13:36 BST

    Iraq on Tuesday asked foreign oil companies to increase oil output and exports, as Baghdad joined those spotlighting production potential ahead of a major energy gathering late next month. Oil Minister ...

  • Iraq asks foreign oil companies to increase crude production, exports Reuters - UK Focus - Tue, Aug 23, 2016 11:29 BST

    Iraqi Oil Minister Jabar Ali al-Luaibi on Tuesday asked foreign oil companies to increase oil and natural gas production and exports in order to maximise the OPEC nation's revenue, ministry spokesman Asim ...

  • Repsol's faulty Yme platform removed from Norway oil field Reuters - UK Focus - Tue, Aug 23, 2016 11:14 BST

    The topside of Repsol (Amsterdam: RP6.AS - news) 's faulty Yme oil platform was removed from the field offshore Norway on Monday, Swiss-based heavy-lift vessel owner Allseas said, a key hurdle for the Spanish oil firm's planned sale of the production license. Using the giant Pioneering Spirit vessel, the removal in a …

  • Which oil major will be the first to soar by 30%+? Fool.co.uk - Tue, Aug 23, 2016 10:56 BST

    Which of these three oil stocks should you buy right now?

  • Europe Gasoline/Naphtha-Gasoline cracks gain on stronger exports Reuters - UK Focus - Mon, Aug 22, 2016 17:01 BST

    Gasoline refining margins in northwest Europe rose above $9 a barrel on Monday, supported by stronger exports to North America following recent stock draws. * Inventory draws in the Atlantic basin last ...

  • Tanzania's President Magufuli orders officials to speed up LNG project Reuters - UK Focus - Mon, Aug 22, 2016 17:00 BST

    Tanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas plant, saying implementation of the project had taken too long. BG Group, ...

  • Iraq's new oil minister sticks by demand to review foreign contracts Reuters - UK Focus - Mon, Aug 22, 2016 15:52 BST

    Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister said, standing by a demand made by his predecessor. Oil Minister Jabar Ali Al-Luaibi conveyed his position at a meeting on Monday in Baghdad with BP's head in Iraq, Michael …

  • Twenty wells at Britain's Rough gas storage site should be available for withdrawals from Nov. 1, Centrica Storage Limited (CSL) said on Monday, above the operator's previous estimate and easing concerns about record low gas stocks this winter. Centrica (Frankfurt: A0DK6K - news) , which owns British Gas, one of Britain's …

  • Twenty wells at UK Rough gas storage site to return for withdrawal Nov. 1 Reuters - UK Focus - Mon, Aug 22, 2016 12:03 BST

    Centrica Storage Limited said on Monday it expects 20 wells at its Rough natural gas storage site in Britain to return to service for withdrawal on Nov. 1. CSL still cannot increase the reservoir pressure ...

  • Anger in the Delta keeps oil majors quiet - and Nigeria's crude offline Reuters - UK Focus - Mon, Aug 22, 2016 08:26 BST

    LONDON/LAGOS, Aug 21 (Reuters) - Oil companies and even Nigerian officials are losing faith in a deal anytime soon with militants who have slashed the nation's oil output, casting doubt on a production recovery in what is typically Africa's largest oil exporter. In the six months since the first major attack on Nigeria's …

  • How sustainable is Royal Dutch Shell plc’s 6% yield? Fool.co.uk - Mon, Aug 22, 2016 07:13 BST

    Royal Dutch Shell (LON:RDSB) currently one of the best yields around. But it continue to do so?

  • The price of oil is back from the dead, but is now a good time to invest?

  • Europe Gasoline/Naphtha-Gasoline gains on tighter stocks, US outages Reuters - UK Focus - Fri, Aug 19, 2016 18:41 BST

    * ARA gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp dropped by 9 percent in the week to Thursday, Dutch consultancy PJK International said. This was the fourth consecutive week of stocks declines in the region, a result of continued exports and lower gasoline output from refineries in the regio …

  • GLOBAL MARKETS-Stocks indexes fall, dollar rises on rate-hike bets Reuters - UK Focus - Fri, Aug 19, 2016 16:06 BST

    U.S. stock markets opened lower on Friday and a gauge of major world indexes fell while the dollar strengthened, as investors began to price in a greater likelihood that the Federal Reserve would raise U.S. short-term interest rates this year. Comments from Fed policymakers in recent days that suggest a bias toward raising …

  • European shares were poised to post their biggest weekly loss in two months on Friday while crude oil snapped its winning streak after a weaker dollar and hopes of production cuts had lifted prices to eight-week highs. With (Other OTC: WWTH - news) the corporate earnings season in the United States and Europe largely …

  • Can we still be sure of Shell? Fool.co.uk - Fri, Aug 19, 2016 07:59 BST

    Is dependable Royal Dutch Shell (LON: RDSB) still one to never sell?

Next >>