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Permian region crude oil prices have increased with additional pipeline takeaway capacity

2 hours ago DieselGasoil Comments Off on Permian region crude oil prices have increased with additional pipeline takeaway capacity
March 26, 2019 Source: U.S. Energy Information Administration, based on Bloomberg, L.P. Crude oil prices in the Permian region have increased since the beginning of the year as two recent pipeline capacity additions reduced some of the takeaway constraints that developed in the middle of 2018. These transportation constraints had forced producers to use more Read More

Stalled Aramco IPO sets back deal-making at U.S. subsidiary Motiva

8 hours ago DieselGasoil Comments Off on Stalled Aramco IPO sets back deal-making at U.S. subsidiary Motiva
HOUSTON (Reuters) – Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. Refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share. FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Read More

Delek US Holdings to Participate in the Scotia Howard Weil 2019 Energy Conference

16 hours ago DieselGasoil Comments Off on Delek US Holdings to Participate in the Scotia Howard Weil 2019 Energy Conference
BRENTWOOD, Tenn., March 25, 2019 (GLOBE NEWSWIRE) — Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced that members of management will participate in the Scotia Howard Weil Energy Conference in New Orleans, Louisiana on Tuesday, March 26, 2019. A copy of Delek US’ latest investor presentation will be provided at the conference.  An Read More

Texas refineries cut output as petrochemical spill curbs shipping

19 hours ago DieselGasoil Comments Off on Texas refineries cut output as petrochemical spill curbs shipping
HOUSTON (Reuters) – A petrochemical disaster outside Houston that has disrupted ship traffic for days at a major U.S. oil port led two major refineries on Monday to reduce fuel production, according to people familiar with the matter. Smoke covers the Houston area from a fire burning at the Intercontinental Terminals Company in Deer Park, Read More

Oil prices little changed as economic slowdown fears tempered

20 hours ago DieselGasoil Comments Off on Oil prices little changed as economic slowdown fears tempered
NEW YORK (Reuters) – Oil prices held steady on Monday as investors weighed concerns of a slowdown in global economic growth against the prospect of tighter crude supply and lower U.S. inventories. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Read More

Oil prices drop almost 1 percent on concerns recession may be looming

1 day ago DieselGasoil Comments Off on Oil prices drop almost 1 percent on concerns recession may be looming
SINGAPORE (Reuters) – Oil prices dropped by almost 1 percent on Monday, with concerns recession could be looming outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Read More

U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude

1 day ago DieselGasoil Comments Off on U.S. buyers of Venezuelan oil sub in Shell, BP offshore crude
NEW YORK (Reuters) – U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. FILE PHOTO: An oil pumpjack painted with the colors of the Venezuelan flag is Read More

Oil prices fall as markets brace for potential U.S. recession

2 days ago DieselGasoil Comments Off on Oil prices fall as markets brace for potential U.S. recession
SINGAPORE (Reuters) – Oil prices dropped on Monday as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo Brent Read More

UK oil & gas production up 20% since 2014

3 days ago DieselGasoil Comments Off on UK oil & gas production up 20% since 2014
Despite its notoriety as a legacy producing region, the UK’s continental shelf yielded 20 percent more oil and gas in the last five years after 14 consecutive years of production declines. The figure for 2018 was 1.7 million barrels of oil equivalent daily and it covered 59 percent of the country’s oil and gas demand, Read More

More shale, who cares? Saudi Arabia pushes for at least $70 oil

4 days ago DieselGasoil Comments Off on More shale, who cares? Saudi Arabia pushes for at least $70 oil
DUBAI/LONDON (Reuters) – Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh’s share of global crude markets might be further eroded. FILE PHOTO: U.S. President Donald Trump welcomes Saudi Arabia’s Crown Prince Read More