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Malaysia proposes joint oil exploration with Brunei

KUALA LUMPUR, Aug. 6 - Malaysia proposed joint oil exploration with Brunei in the maritime border areas, local media reported on Thursday. Malaysian Prime Minister Najib Tun Razak told Malaysian journalists in Brunei on Thursday that the Malaysia's national oil company Petronas ...

British Columbia woos drilling with royalty breaks

CALGARY, Alberta, Aug 6 - British Columbia, the site of some of North America's most promising shale gas plays, offered the energy industry royalty and regulatory breaks on Thursday to stimulate drilling as natural gas prices remain weak. The government in Canada's westernmost ...

Exxon Baytown Refinery, chem plant suffers upset

HOUSTON, Aug 6 - Exxon Mobil's (XOM.N) giant Baytown, Texas, refining and chemical plant complex suffered an upset after a power surge, according to a message posted on a community hotline. A pipeline fire at the complex was also reported by a Houston television station. The ...

World Fuel Services Q2 profit beats estimates

Aug 6 - World Fuel Services Corp (INT.N), which provides fuel and services to commercial and corporate aircraft, reported better-than-expected second-quarter earnings helped by increased contribution from its land segment and lower expenses. Net income for the second quarter was ...

Murphy Oil profit down 74 percent

HOUSTON, Aug 5 - Murphy Oil Corp (MUR.N) on Wednesday said its quarterly earnings fell 74 percent, as oil prices dropped sharply from a year ago and weak fuel demand hurt its refining business. Net profit in the second quarter was $158.8 million, or 83 cents per share, compared ...

Alaska Cook Inlet oil output to restart next week

ANCHORAGE, Alaska, Aug 5 - Oil production from Alaska's Cook Inlet was expected to restart next week after being shut for months by a series of volcanic eruptions, a spokeswoman for the oil-field operator said on Wednesday. Chevron (CVX.N) hopes to restart production at the ...

Highpine Oil & Gas posts Q2 loss

Aug 5 - Canada's Highpine Oil & Gas Ltd (HPX.TO) reported a quarterly loss, hurt by a 61 percent fall in revenue on lower oil production and prices. For the quarter, the company reported a net loss of C$13.9 million, or 21 Canadian cents a share, compared with a profit of C$31.5 ...

KBR in Saudi/Conoco refinery engineering contract

SAN FRANCISCO, Aug 5 - KBR Inc (KBR.N) has won an engineering and procurement contract from Saudi Aramco and ConocoPhillips (COP.N) for utilities and interconnecting systems and pipe racks at the Yanbu refinery in Saudi Arabia. The 400,000 barrel-per-day export-oriented refinery ...

Saudi/Shell JV says 2 Empty Quarter zones give gas

KHOBAR, Saudi Arabia, Aug 2 - A Royal Dutch Shell (RDSa.L) and Saudi Aramco joint venture said on Sunday that gas from two zones under exploration in the kingdom's Empty Quarter flowed at a combined rate of 90 million cubic feet per day. South Rub al-Khali Co (SRAK) said the two ...

Eugene Island pipeline shut after leak - Shell

HOUSTON, July 27 - The Eugene Island crude oil pipeline in the Gulf of Mexico has been shut down pending repair after a weekend leak of 1,400 barrels, Shell Pipeline Co. (RDSa.L) said Monday.

Lower oil price sends German inflation into minus in July

BERLIN, July 29 - Lower oil price sends German inflation rate into -0.6 percent in July 2009 compared with July 2008, the German Federal Statistics Office (Destatis) said on Wednesday in Wiesbaden. In Germany, a negative inflation rate was last recorded in March 1987 at -0.3 ...

India raises fuel prices for first time in a year

NEW DELHI, July 1 - India unexpectedly raised gasoline and diesel prices by as much as 10 percent on Wednesday, its first increase this year, passing some of oil's rally into an economy just beginning to find its feet amid a global recession. The hike will aid margins for state...

Europe Gasoline-Drops almost 2 pct on US stock build

LONDON, July 1 - European gasoline prices dropped by almost 2 percent on Wednesday towards $630 a tonne, after a larger-than-expected rise in U.S. stocks of the motor fuel dampened export expectations. The U.S. Energy Information Administration reported gasoline stocks rose by 2...

Gold drops for second session on rising dollar, weak oil

CHICAGO, June 30 - Gold futures on the COMEX Division of the New York Mercantile Exchange fell for the second day on Tuesday as dollar quickly moved higher and crude oil slumped. Silver and platinum both went down, too. Gold price for August delivery lost 13.30 U.S. dollars, or 1...

Valero plans Corpus Christi heavy oil cracker work

HOUSTON, June 30 - Valero Energy Corp (VLO.N) plans maintenance on a heavy oil cracker in the west plant of its 315,000-barrel-per-day (bpd) Corpus Christi, Texas, refinery, according to a notice filed on Tuesday with state pollution regulators. Work on HOC unit No. 21 was ...

IEA says speculation amplifying oil prices moves

WASHINGTON, June 30 - Fundamentals are currently determining the direction of crude oil prices but speculators are amplifying those moves, the head of the International Energy Agency, Nobuo Tanaka, said on Tuesday. "Our analysis shows that the fundamentals are deciding the ...

Saudi, Conoco relaunch Yanbu refinery bidding

KHOBAR, Saudi Arabia, June 30 - Saudi Aramco and U.S. company ConocoPhillips (COP.N) will resume the bidding process, halted last year, for contracts to build an export-oriented refinery in Saudi Arabia, they said on Tuesday. The process was stopped due to uncertainties in global ...

Oil jumps more than three percent on Nigerian attack

NEW YORK, June 29 - Oil prices jumped more than 3 percent on Monday as one of Royal Dutch Shell's offshore oil platforms was raided in Nigeria, affecting the largest oil producer in Africa. Light, sweet crude for August delivery gained 2.33 dollars, or 3.4 percent, to settle at ...

Exxon says L.A.-area refinery operations normal

HOUSTON, June 29 - Exxon Mobil Corp (XOM.N) said operations were normal at its 150,000-barrel-per-day (bpd) Los Angeles-area refinery in Torrance, California, on Monday, following an early morning upset in an operating unit. Exxon spokeswoman Aarti Ramachandran declined to ...

BP, Texas in temporary refinery lawsuit agreement

HOUSTON, June 29 - BP Plc's (BP.L) U.S. subsidiary agreed to investigate causes of unauthorized pollution and improve air monitoring at its giant Texas City, Texas, refinery in a deal announced on Monday with Texas Attorney General Greg Abbott. The agreement takes the form of an ...
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