Oil at Highest Level since June 2015
Iran unrest expected to keep prices firm; but U.S. expected to see its output pass 10 mln bpd. Oil prices rose on Wednesday to new two-and-a-half year highs as robust output in the United States and Russia balanced…
Oil Trades Strengthen to Mid-2015 Levels on Iranian Unrest
Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas…
Oil Prices Buoyed by Strong U.S. Refinery Runs, China Data
Brent, WTI crude dip but stay near mid-2015 highs; U.S. stocks fall 4.6 mln bbls, refining surges - EIA. Oil prices dipped on Thursday but stayed close to their highest in 2-1/2 years, as data showed strong demand…
Oil Near mid-2015 Highs on Strong China Data
Strong China import quota, lower inventories lift crude; OPEC and Russia-led supply cuts also propping up prices. Oil prices stood near their highest in two and a half years, supported by strong data from top importer…
North Sea Pipeline, Dropping U.S. Stocks Support Prices
North Sea Forties pipeline shut due to crack; U.S. crude oil inventories expected to fall further. Brent crude prices steadied on Wednesday while WTI futures edged higher, supported by expectations of a fall in U.S.
Hedge Funds Show Signs of Oil 'Exhaustion'
Hedge fund managers have boosted their bullish positions in Brent futures and options in response to the shutdown of the Forties oil pipeline, according to an analysis of regulatory and exchange data. But bullishness…
Brent Eases, Traders Sanguine About Pipeline Outage
Brent futures for delivery in the first months of next year have given up much of their premium since the announcement on Monday that the Forties pipeline system would be shut for emergency repairs. The Forties pipeline system…
Forties Pipeline Shutdown Sends Brent Spreads Soaring
Brent futures for delivery in nearby months have jumped to a big premium following the decision to shut the main pipeline bringing crude onshore from the UK North Sea for inspection and repairs. The Forties pipeline system…
Forties Pipeline Outage Benefits U.S. Exporters
The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African producers seeking to maintain market share in the world's top importing region.
Britain's Biggest Oil pipeline Shut "for weeks"
Britain's largest oil pipeline could shut down for weeks for unscheduled repair work, sending the price of crude to new two-year highs and triggering a steep rally in natural gas prices, just as a cold snap sweeps the country.
DONG to Sell O&G Business to Ineos for $1.3 Bln
Danish utility and offshore wind farm developer DONG Energy has agreed to sell its oil and gas business to petrochemicals firm Ineos for $1.3 billion, it said on Wednesday, the latest in a string of North Sea deals. The sale is a blow to shipping group A.P.
For BP and Shell, North Sea Remains a Hard Sell
High costs, decommissioning hamper deals. When it comes to the North Sea, there is no such thing as an easy sale, even for oil giants Royal Dutch Shell and BP. More than any other region in the world, the North Sea…
Oil Flow Through UK's North Sea Forties Pipeline Restricted
The flow of oil through the Forties pipeline in Britain's North Sea is being restricted after an unplanned shutdown at the Kinneil processing plant, a spokeswoman for pipeline operator BP said on Thursday. "Train 1 at Kinneil had an unplanned shutdown on Dec.
DNV GL Approves Pipeline Isolation Tools
Pipeline engineering specialist STATS Group has received the DNV GL seal of approval for its Tecno Plug and BISEP range of pipeline isolation tools. DNV GL has issued certificate P-15082 for the 3-48” range for both Tecno Plugs and BISEPs.
BP Starts Production at North Sea Kinnoull Field
BP has started producing oil from its Kinnoull field in the central North Sea, the oil major said on Tuesday, bringing on stream a new field that feeds into BP's existing Andrew platform off the coast of Scotland.
Ailing Industry Kills Welsh Refinery
Europe's refiners face stiff competition from Asia, U.S. U.S. company Murphy Oil tried for more than four years to sell its Milford Haven refinery in Wales. The plant was finally doomed last week when a deal with…
Accident Claims One in BP North Sea Incident
A man has died after an incident on a North Sea oil platform owned by BP Plc, the company said on Thursday. "BP is deeply saddened to confirm that an offshore worker has died following an incident on the Unity platform," BP said in a statement.
N.Sea Oilfield Plans 25 Days Maintenance
Reuters - Britain's biggest oilfield Buzzard will undergo 25 days of planned maintenance starting in late July, its operator Nexen confirmed on Friday. During this period production will be offline but the outage…
