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Fuel demand shock threatens future of Australia’s oil refineries

MELBOURNE, July 2 (Reuters) - A coronavirus-driven collapse in fuel demand is threatening Australia's oil refining industry, just as supply chain disruptions wrought by the pandemic have focused the government on the need to shore up fuel security. Already dependent on imports for more than half its fuel needs after...

Nornickel draws up permafrost monitoring plan after Arctic fuel spill

MOSCOW, July 2 (Reuters) - Russia's Norilsk Nickel , a major global nickel and palladium producer, has prepared a long-term programme to monitor permafrost and remedy environmental damage after an Arctic fuel spill in its home city, it said on Thursday. A fuel tank lost pressure on May 29 and unleashed...

South African refinery explosion kills two, injures seven

CAPE TOWN, July 2 (Reuters) - Two people were killed on Thursday in an explosion at Astron Energy's 100,000 barrel per day refinery in Cape Town, the company said as it promised a full investigation. The Western Cape's emergency medical services said one man and one woman died at the...

Pirates kidnap nine in attack on vessel off Nigeria, says ship owner

OSLO, July 2 (Reuters) - Pirates attacked an oil production vessel off Nigeria in the early hours of Thursday and kidnapped nine Nigerian nationals, the ship's owner BW Offshore said. The Sendje Berge ship was undergoing maintenance when the attack happened, BW Offshore's Chief Financial Officer Staale Andreassen told Reuters. The Oslo-listed...

Venezuela’s oil exports sank in June to 77-year low -data

July 1 (Reuters) - Venezuela's oil exports slumped in June to their lowest level since 1943 after half a dozen tankers, looking to avoid the threat of U.S. sanctions, sailed away from the nation's waters without loading, according to vessel tracking data. The fall in oil exports has starved the socialist...

Sweeter, lighter, cheaper: refiners seek oil to meet rising gasoline demand

LONDON, July 2 (Reuters) - With more cars taking to the roads as coronavirus lockdowns ease, demand for lighter, sweeter oil more suitable for refining into gasoline is ticking up. European refiners especially are moving away from sour varieties like Russian Urals, which have risen in price since a supply...

India to simplify gas pipeline tariff to boost demand

NEW DELHI, July 1 (Reuters) - India is simplifying its gas pipeline tariff structure to make the fuel more affordable and to attract investment for building gas infrastructure in the country, oil minister Dharmendra Pradhan said on Wednesday. Prime Minister Narendra Modi has set a target to raise the share of...

Oil barrels come off the water as storage boom at sea fades

LONDON, July 1 (Reuters) - Tens of millions of barrels of crude and oil products stored on tankers at sea due to the coronavirus crisis are being sold, in a sign fuel demand is recovering as lockdowns ease, shipping sources say. Fuel demand tumbled as much 30% from March to...

Mexican top court upholds antitrust complaint over energy policy

MEXICO CITY, June 29 (Reuters) - Mexico's Supreme Court has upheld a complaint by antitrust regulator Cofece against an attempt by the energy ministry to stop new renewable power plants from coming online, according to a decision published on Monday. Pending a final ruling by the court, the decision suspends...

OPEC, Russia seen easing oil production cuts from August

LONDON, June 30 (Reuters) - OPEC and Russia will likely ease record oil production cuts from August as global oil demand recovers and prices have bounced back from their lows, four OPEC+ sources told Reuters. OPEC and its allies including Russia, know as OPEC+, have agreed to cut production by...
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Recently Added

Buffett’s Berkshire to buy Dominion Energy gas assets for $4 bln

July 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Sunday it agreed to buy Dominion Energy Inc's natural gas transmission and storage...

Wall Street sees Exxon paring asset values on weakening demand

HOUSTON, July 2 (Reuters) - Exxon Mobil Corp assets are likely overvalued in light of weak oil-demand outlook, according to Wall Street analysts, and...

Oil falls below $43 on virus fears, still heads for weekly gain

LONDON, July 3 (Reuters) - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand...

Refiner Phillips 66’s return-to-work policy stirs unease as virus flares

DENVER/HOUSTON, July 3 (Reuters) - About 20 employees of U.S. oil refiner Phillips 66 tested positive at its Texas headquarters for COVID-19 in recent...
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