Energy News Results

  • South Africa's second largest crude refinery shutdown after blast

    South Africa's second largest crude oil refinery, the 120,000 barrel per day plant operated by Engen, was shutdown on Friday for investigators to determine the cause of the early morning "fire incident", the company said.

  • Shell says Deer Park, Texas facility hit by power outage

    - Royal Dutch Shell Plc (RDS/A) experienced a power outage that caused a process upset at multiple units at its Deer Park, Texas, facility, where it operates a 318,000 barrel-per-day joint-venture refinery. Power outage at the Deer Park facility was due to a transmission line event outside of Shell, the company said in a regulatory filing on Friday, adding power returned and units were stabilized.

  • Oil rises, hovers below $50/bbl on hopes for U.S. stimulus

    Brent crude oil futures rose more than 1% on Friday, remaining just under $50 a barrel, as expectations of a U.S. economic stimulus package and the possibility of a vaccine for the coronavirus overrode rising supply and increased COVID-19 deaths. A bipartisan $908 billion coronavirus aid plan gained momentum in the U.S. Congress. Brent settled up 54 cents or 1.11% at $49.25 a barrel.

  • Oil steady as OPEC+ works on compromise on output deal

    Oil prices held steady on Thursday as the market waited for direction from the OPEC+ producers, including Saudi Arabia and Russia, that are debating whether to increase output from January.

  • Brent rises to highest since March after OPEC+ output cut deal

    Global benchmark Brent crude prices rose 1% to their highest since early March on Thursday on renewed hopes for a U.S. stimulus deal and after major oil producers agreed to increase output by a modest 500,000 barrels per day from January.

  • Oil drops as OPEC+ resume talks on output cut extension after impasse

    Oil prices fell on Thursday as producers including Saudi Arabia and Russia locked horns over the need to extend record production cuts set in place in the first wave of the COVID-19 pandemic. Brent crude was down 15 cents, or 0.3%, at $48.10 a barrel by 0155 GMT, after gaining 1.8% on Wednesday.

  • COLUMN-Rising distillate margins signal cyclical upturn: Kemp

    * Chartbook: https://tmsnrt.rs/37pwcWp. Global refinery margins for producing road diesel, jet fuel and other middle distillates have started to rise as industrial activity and trade recover in the wake of the coronavirus epidemic and lockdowns.

  • COLUMN-Rising distillate margins signal cyclical upturn: Kemp

    * Chartbook: https://tmsnrt.rs/37pwcWp. By John Kemp. Global refinery margins for producing road diesel, jet fuel and other middle distillates have started to rise as industrial activity and trade recover in the wake of the coronavirus epidemic and lockdowns.

  • Oil prices slip as market awaits output deal

    * Formal OPEC+ meeting delayed to Thurs from Tues -sources. * Market betting on extension of cuts through Q1 -analyst. * U.S. crude stocks rose 4.1 million barrels last week -API. * Coming up: EIA inventory data at 1530 GMT. By Noah Browning.

  • Oil prices rise on U.K. vaccine approval, outcome of OPEC deal

    * Formal OPEC+ meeting delayed to Thurs from Tues -sources. * Market bets output cuts to be extended through Q1 -analyst. * U.S. crude stocks drew 679,000 barrels last week -EIA. By Laura Sanicola.

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