Norway oil spending may be cut by 10 per cent OSLO, Nov 23 (Reuters) – Norway oil companies have lowered their 2017 investment plans, a Statistics Norway survey showed on Wednesday, raising the chances of a central bank interest rate cut in the coming months. Norway’s biggest industry has curbed spending in the wake of a more than […]
Norway oil companies lower 2017 spending plans-survey Read More »
Indian Oil refinery expected to increase capacity from 20,000 b/d to 300,000 b/d By Nidhi Verma NEW DELHI, Nov 23 (Reuters) – An Indian Oil Corp unit plans to invest $5.5 billion to gradually raise the capacity of its smallest refinery co-owned by Iran to 300,000 barrels per day (b/d), its chairman said, to help meet a
Indian Oil plans $5.5 billion expansion of refinery co-owned by Iran Read More »
Canadian rig count down by 10 Nov 23 (Reuters) – The US rig count rose this week, boosting the number of increments in November to the most in a month since July, as shale producers boost spending to capture forecast higher crude prices in coming months. Drillers added three oil rigs in the week to Nov.
US rig count increases, adding the most oil rigs in a month since July Read More »
BP sold crude to Samir refinery that had not been paid for By Julia Payne LONDON, Nov 23 (Reuters) – BP must pay more than $68 million to the National Bank of Abu Dhabi (NBAD), a UK court has ruled, in a case stemming from the surprise closure of Morocco’s Samir refinery in 2015. The
BP loses $68 million court ruling over Morocco oil cargo Read More »
OPEC talks on Nov. 30 By Vladimir Soldatkin and Oksana Kobzeva MOSCOW, Nov 23 (Reuters) – Russia has yet to plan how to freeze oil production and there has been no agreement among its leading producers on output curbs, three senior industry sources told Reuters on Wednesday, prior to OPEC talks next week. Painstaking talks among
Russia still working on how to freeze oil output ahead of OPEC talks Read More »
EPA set biofuel target at 19.28 billion gallons NEW YORK, Nov 23 (Reuters) – The U.S. government will require energy companies to use a record amount of biofuel next year, a victory for Midwest farmers that supply ethanol makers over oil firms that say using more biofuels in gasoline and diesel is costly and unachievable.
Big Corn beats Big Oil as U.S. hikes 2017 biofuel targets Read More »
US crude inventories down by 1.3 million barrels last week By David Gaffen Nov 23 (Reuters) – US crude inventories fell last week after three straight weeks of builds as imports dropped and refineries hiked output, while gasoline inventories rose sharply amid weak demand, U.S. Energy Information Administration data showed on Wednesday. Crude oil inventories fell 1.3
US crude inventories fall as imports drop, refinery rates rise -EIA Read More »
Iraq PM: “What we lose in lowering production we will gain in oil revenues” By Saif Hameed BAGHDAD, Nov 23 (Reuters) – Iraq is willing to cut its crude oil output as part of OPEC’s plan to reduce global supply and boost crude prices, Prime Minister Haider al-Abadi told reporters on Wednesday in Baghdad. “What
Iraq willing to cut oil output in OPEC’s plan to boost prices – PM Read More »
Oil prices up in thin trading prior to Thanksgiving holiday By Jessica Resnick-Ault NEW YORK, Nov 23 (Reuters) – Oil prices fell slightly on Wednesday amid investor doubts that OPEC will agree to a production cut large enough to make a significant dent in the global glut of crude as U.S. drilling rises. Members of
Oil prices edge down on doubts about OPEC-led cuts Read More »
OPEC reported to be discussing initial deal lasting six months, too short to have much impact on stock futures By John Kemp LONDON (Reuters) – If OPEC hopes to speed up the rebalancing of the oil market by announcing a production-limiting plan, someone should tell the futures market. Front-month futures have risen sharply in recent days
Oil futures show no sign of market tightening despite OPEC talks: Kemp Read More »
