Archive for April, 2016
Russian oil output in April edges down to 10.86 mln bpd
Russian oil output down due to seasonal maintenance MOSCOW, April 29 (Reuters) – Russian oil output edged lower in April 1-28 to 10.86 million barrels per day (bpd) from a record 10.91 million in March, two sources close to the Energy Ministry told Reuters on Friday. The preliminary statistics show Russia is determined to keep oil output […]
Potential complications delay Saudi Aramco IPO’s final form: The Economist
Saudi Aramco IPO funds to diversify the Kingdom’s economy April 29 (Reuters) – The final form of the Saudi Aramco initial public offering (IPO) is not yet decided due to potential complications in the share sale, the Economist reported on its website, citing Chairman Khalid al-Falih. Due to the huge size of the issue, it […]
Phillips 66 profit misses as margins shrink
Phillips 66 earnings at $385 million in Q1 April 29 (Reuters) – U.S. refiner Phillips 66 reported a weaker-than-expected quarterly profit, hurt by lower margins for gasoline and other refined products. “Crack spreads” – the difference between the cost of crude and refined products often used to estimate refining margins – have slumped as output […]
Private-led Chinese mega-refinery planned off east coast
$15 billion Chinese mega-refinery biggest private-led energy installation By Chen Aizhu BEIJING, April 29 (Reuters) – A private-led Chinese group is planning to build a $15 billion mega-petrochemical complex on an island near Shanghai, in what would be the country’s first and largest energy installation to be built by a non-state investor, industry sources said. […]
Spectra Energy responding to Pennsylvania pipeline fire
Pennsylvania pipeline fire in Salem Township A natural gas pipeline outside Pittsburgh exploded on Friday, setting off a fire that destroyed a home, injuring one person inside it and forcing the evacuation of nearby residents, state and local officials said. The explosion of the 36-inch pipeline occurred in rural Westmoreland County. The victim, who officials […]
Colonial Pipeline plans Texas export dock for gasoline, distillates
Colonial Pipeline facility in Port Arthur By Kristen Hays HOUSTON, April 29 (Reuters) – Colonial Pipeline Co said on Friday it would build an export dock in southeast Texas, marking the largest U.S. refined product pipeline system’s first foray into infrastructure that will connect shippers to international markets. The company said that it will build a […]
Delta Airlines cites emissions standards as factor in deal for CSeries jets
Delta Airlines buying 75 CS100 jets from Bombardier By Jeffrey Dastin ATLANTA, April 29 (Reuters) – Concern over future U.N. aircraft emissions standards was a factor in a Delta Air Lines Inc deal announced this week to buy 75 new CS100 jets from Bombardier Inc, a Delta executive said on Friday. Delta’s decision was in part […]
Utilities should face climate change stress tests: Investor network
Network concerned utilities’ strategies not consistent with climate change targets By Nina Chestney LONDON, April 29 (Reuters) – Electric utilities should undergo stress tests to show how their business models are in line with limiting climate change, a global network of investors said on Friday. The network of more than 270 institutional investors with assets worth more than […]
TransCanada says Keystone maintenance will not affect May volumes
Permanent repairs on Keystone pipeline in May By Nia Williams CALGARY, Alberta, April 29 (Reuters) – TransCanada Corp said on Friday maintenance planned for the 590,000 barrel-per-day Keystone pipeline in May, one of the main crude conduits from Canada to the United States, will not impact its ability to ship contracted volumes for that month. […]
US rig count cut for 6th week to Nov 2009 lows
US rig count down by 11 to 420 oil and gas rigs April 29 (Reuters) – U.S. energy firms cut oil rigs for a sixth week in a row to the lowest level since November 2009, according to oil services company Baker Hughes Inc in its weekly rig count report issued Friday. Despite crude futures climbing to […]
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