Crude oil
China unveils plans to expand, upgrade oil and gas pipelines
The National Development and Reform Commission (NDRC) and National Energy Administration (NEA) unveiled plans to expand and upgrade China’s oil and gas pipeline network over the next decade.
Russia, Venezuela discuss Citgo collateral deal to avoid US sanctions
CARACAS/HOUSTON (Reuters) — Russia's top oil producer Rosneft is negotiating to swap its collateral in Venezuelan-owned, US-based refiner Citgo for oilfield stakes and a fuel supply deal—a move to avoid complications from US sanctions, two sources with knowledge of the negotiations told Reuters.
Brent oil climbs above $50 for first time since early June
LONDON (Reuters) — Brent crude oil rose above $50/bbl for the first time since early June on Thursday, adding to gains made the previous session when falling US crude and oil product inventories lifted the market.
SemGroup completes acquisition of Houston Fuel Oil Terminal Company
TULSA, Okla. — SemGroup Corporation announced the closing of its acquisition of Houston Fuel Oil Terminal Company (HFOTCO) from investment funds managed by Alinda Capital Partners. HFOTCO, one of the largest oil terminals in the US, establishes SemGroup’s position in the premier energy market, the Houston Ship Channel, and provides a strategic platform to refinery-facing growth.
PetroChina unloading first Chinese purchase of oil from US strategic reserves
SINGAPORE (Reuters) — PetroChina is this week unloading the first Chinese purchase of crude oil from US strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources.
S.Korea easing rules at oil terminals in effort to become trade hub
SINGAPORE (Reuters) — South Korea is in the process of easing blending restrictions at its oil storage terminals as the world's No. 5 crude importer bolsters an effort to become a North Asia trading hub.
BP mulling IPO of US Midwest and Gulf Coast pipeline assets
(Reuters) — BP Plc is considering an initial public offering of its vast US Midwest and Gulf Coast pipeline assets, the company said on Tuesday, a move that would raise cash.
Vietnam plans oil reserves equivalent of 90 days of imports by 2020
HANOI (Reuters) — Vietnam's prime minister has approved a plan for the country's total crude oil and oil product stocks to be at least 90 days' worth of net imports by 2020.
Oil climbs as firm demand absorbs ample supply
LONDON (Reuters) — Oil rose on Tuesday as demand soaked up some of the surplus supplies from OPEC and the United States, but traders said the market was trading in a tight range and showed few signs of big short term moves.
Total says crude exports from Congo Republic Djeno terminal unaffected
PARIS (Reuters) — French oil and gas company Total said on Monday that crude exports from its Djeno terminal in Congo Republic was ongoing and unaffected following a strike last week and the sinking of a loading buoy in an unrelated accident.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
