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U.S. funds face renewed divestment calls on Sudan

BOSTON, June 2 - The three largest U.S. mutual fund firms face a wave of shareholder proposals this summer calling on them to divest from companies doing business in Sudan over human rights concerns. The votes expected at funds operated by Fidelity Investments and Vanguard Group ...

TSX ends slightly lower despite bank rally

TORONTO, June 2 - Toronto's main stock index ended slightly lower on Tuesday as lower oil prices weighed on the energy sector, but an extended rally by bank shares after last week's earnings helped to cushion the fall. Energy companies crowded the list of shares that pushed the ...

Murphy restarting WI refinery after power failure

NEW YORK, June 2 - Murphy Oil Co (MUR.N) is restarting its 35,000-barrel-per-day Superior, Wisconsin, refinery after a power outage Tuesday morning, a spokesman said Tuesday. The refinery was hit with a brief power outage lasting about 30 minutes, spokesman Dory Stiles said. ...

US oil cos brace for start of 2009 hurricane season

HOUSTON, June 1 - Shell Oil Co. (RDSa.L), one of the Gulf of Mexico's biggest oil and natural gas producers, unveiled its hurricane contingency plans on Monday as analysts discounted the potential supply impact of storms because U.S. crude oil and refined product stocks are ...

California board urges no new oil drilling offshore

LOS ANGELES, June 1 - The California State Lands Commission on Monday voted 2-0 to urge the state legislature to reject Governor Arnold Schwarzenegger's proposal to allow the state's first offshore oil drilling lease since 1969. Schwarzenegger's Department of Finance is expected ...

Israel's Paz Oil posts drop in Q1 profit

JERUSALEM, May 31 - Paz Oil (PZOL.TA), Israel's largest distributor of refined oil products, on Sunday reported a 57 percent drop in quarterly net profit, hurt by one-time accounting changes and lower revenues. Paz posted first-quarter profit of 101 million shekels ($26 million), ...

Lower costs may revive oil sands projects

CALGARY, Alberta, June 1 - New projects in Canada's oil sands could be viable with crude prices of just $60 a barrel, as much as 40 percent below estimates made before oil prices slumped late last year, an analyst said on Monday. In a research report, Andrew Potter of UBS ...

Exxon reports unplanned flaring L.A.-area refinery

HOUSTON, May 31 - Exxon Mobil Corp (XOM.N) reported unplanned flaring at its 150,000 barrel per day (bpd) Los Angeles-area refinery in Torrance, California, on Saturday, according to notices filed with California pollution regulators. The notices did not say why the refinery had ...

UAE's Dana Gas to go ahead with Kurdistan project

United Arab Emirates, May 31 - UAE's Dana Gas DANA.AD will go ahead with its project in Iraq's Kurdistan region despite the federal government's rejection of the deal, a Dana Gas source told Reuters on Sunday. This month the UAE's Crescent Petroleum and affiliate Dana Gas formed ...

Turkmens say to increase gas supplies to China

ASHGABAT, June 24 - Turkmenistan has agreed to increase the amount of gas it will supply to China to 40 billion cubic metres (bcm) from 30bcm every year, Turkmen state television said on Wednesday. The two countries also signed a contract under which China would issue Turkmenista...

Showa Shell, Saudi Aramco to form solar power JV

June 24 - Japanese oil distributor Showa Shell Sekiyu KK (5002.T) and Saudi Aramco Oil Co plan to jointly set up small-scale solar power facilities in Saudi Arabia next year, the Nikkei business daily reported without citing sources. Showa Shell, Japan's fifth-biggest oil refiner...

Putin to meet Total, Novatek heads on Wednesday

MOSCOW, June 23 - French oil major Total (TOTF.PA) might be heading for another landmark deal in Russia as its head prepares to meet Prime Minister Vladimir Putin on Wednesday, along with the chief of Russian gas firm Novatek (NVTK.MM) "They will discuss forms of cooperation in ...

Niko Resources posts Q4 loss

June 23 - Canadian oil and gas company Niko Resources Ltd (NKO.TO) reported a quarterly loss, partly hurt by continued losses from its short-term investments, and forecast significantly higher sales volumes for 2010 on start up of its major project in India. Niko, which has major ...

Europe Gasoline-Plummets on lower U.S. RBOB futures

LONDON, June 22 - European gasoline prices plummeted by more than 8 percent on Monday after a large sell-off in U.S. RBOB gasoline futures lowered expectations for exports to the United States. European barges have fallen by almost $60 in one day, trading as low as $624 a tonne ...

Tesoro says restarting CA and AK refinery units

NEW YORK, June 22 - Tesoro Petroleum Corp (TSO.N) said Monday it was restarting a hydrocracker at its 166,000 barrel-per-day Martinez, California, refinery and another unit at its 72,000 bpd Kenai, Alaska refinery. "Units that have been shutdown at both the Kenai and Martinez ...

Exxon says no effect from Baytown boiler shutdown

NEW YORK, June 22 - Exxon Mobil Corp (XOM.N) said Monday a boiler shutdown at its 562,500 barrel-per-day refinery would not affect production, according to a filing with state regulators. The boiler was being restarted after tripping offline, the filing with the Texas Commission ...

Shell to supply Kuwait LNG starting this summer

KUWAIT, June 22 - Royal Dutch Shell has signed a deal to supply Kuwait with liquefied natural gas (LNG) starting this summer, a Shell spokeswoman said on Monday. Kuwait is one of the world's highest per capita consumers of electricity and is short of gas for power generation to ...

Australia Linc Energy to update on coal-asset sales

SYDNEY, June 22 - Shares in Linc Energy Ltd (LNC.AX) went on a trading halt on Monday ahead of an update from the group on the status of its sale of Australian coal tenements. Linc said in a statement it wished to clarify comments in a report in the Australian Financial Review on ...

Russia to keep cheap energy supplies to Belarus: Putin

MOSCOW, June 28 - Russia will continue to maintain cheap energy supplies to Belarus in the near future to support its economy, Russian Prime Minister Vladimir Putin said Sunday. "For the near future we intend to continue this, while bearing in mind the tendency toward switching ...

COSCO builds $600 mln deepsea drilling rig for Norway

BEIJING, June 28 - A shipyard under China's state-run COSCO Group has built a $600 million ultra deepwater drilling rig for Norwegian oilfield services group Sevan Marine (SEVAN.OL), state media reported on Sunday. The rig, Seven Driller, can sink wells 40,000 feet deep and store ...
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