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Chrysaor to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion

5 hours ago DieselGasoil Comments Off on Chrysaor to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion
4/18/2019 Photo: Chrysaor CEO Phil Kirk. LONDON — Chrysaor Holdings Limited is to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion. The assets being acquired produced approximately 72,000 boepd in 2018. This acquisition increases Chrysaor’s pro forma 2018 production to 177,000 boepd, making Chrysaor one of the largest oil and gas producers in Read More

Oil prices rise on lower U.S. stocks, OPEC+ supply cuts

14 hours ago DieselGasoil Comments Off on Oil prices rise on lower U.S. stocks, OPEC+ supply cuts
LONDON (Reuters) – Oil prices rose slightly on Thursday, boosted by a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File Read More

‘Can’t sleep at night’: Despair over jobs as India’s Jet Airways grounded

15 hours ago DieselGasoil Comments Off on ‘Can’t sleep at night’: Despair over jobs as India’s Jet Airways grounded
MUMBAI (Reuters) – Bhoja Poojari has handled baggage for India’s Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends into crisis. An employee of Jet Airways is consoled by his colleagues during a protest demanding to “save Read More

Oil prices slip, but supply cuts support

16 hours ago DieselGasoil Comments Off on Oil prices slip, but supply cuts support
LONDON (Reuters) – Oil prices eased on Thursday, although a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran all limited losses. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Read More

Oil prices slip, but ongoing supply cuts support

18 hours ago DieselGasoil Comments Off on Oil prices slip, but ongoing supply cuts support
TOKYO/SYDNEY (Reuters) – Oil markets fell on Thursday despite a surprise decline in U.S. inventories, but the price drops were tempered by a smaller-than-expected reduction in gasoline stocks and ongoing OPEC-led supply cuts. FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles north of the Read More

Oil prices slip amid ample U.S. output, Brent drifts away from five-month high

22 hours ago DieselGasoil Comments Off on Oil prices slip amid ample U.S. output, Brent drifts away from five-month high
TOKYO/SYDNEY (Reuters) – Oil prices dropped on Thursday as the impact of plentiful U.S. production offset a surprise decline in U.S. inventories, leaving international benchmark Brent retreating from a five-month high touched in the previous session. FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles Read More

Oil settles lower as U.S. inventories disappoint market

1 day ago DieselGasoil Comments Off on Oil settles lower as U.S. inventories disappoint market
NEW YORK (Reuters) – Crude prices declined slightly on Wednesday as U.S. government data showed inventories drew down less than an industry report had suggested on Tuesday. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo Brent crude rallied to its Read More

Oil hits 2019 high above $72 on China growth, lower U.S. inventories

2 days ago DieselGasoil Comments Off on Oil hits 2019 high above $72 on China growth, lower U.S. inventories
LONDON (Reuters) – Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Read More

CWT International defaults on $179 million loan, parent HNA sees no impact on business

2 days ago DieselGasoil Comments Off on CWT International defaults on $179 million loan, parent HNA sees no impact on business
HONG KONG (Reuters) – CWT International Ltd, a unit of China’s indebted HNA Group Co Ltd, said on Tuesday it defaulted on a HK$1.4 billion ($179 million) loan, and that it has less than 24 hours to pay funds due or lose assets pledged as collateral. FILE PHOTO: The HNA Group logo is seen on Read More

U.S. manufacturing mired in soft patch in first quarter

2 days ago DieselGasoil Comments Off on U.S. manufacturing mired in soft patch in first quarter
WASHINGTON (Reuters) – U.S. manufacturing output was unchanged in March after two straight monthly declines, resulting in the first quarterly drop in production since President Donald Trump was elected. FILE PHOTO: A line worker installs the front seats on the flex line at Nissan Motor Co’s automobile manufacturing plant in Smyrna, Tennessee, U.S., August 23, Read More