Oil prices recover on big US crude stock drawdown, pipeline shutdown supports

By Osamu Tsukimori TOKYO, Dec 13 : Oil prices rose on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles, while expectations for an extended shutdown of a major North Sea crude pipeline also continued to bolster markets. Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by […]

Broken pipeline cuts British supply during peak energy demand

By Ron Bousso, Amanda Cooper and Alex Lawler LONDON, Dec 12 : Britain’s biggest pipeline from its North Sea oil and gas fields is likely to be shut for several weeks for repairs, its operator said on Tuesday, disrupting gas flows and sending international crude prices to their highest since mid-2015. The closure has struck […]

Brent crude jumps above $65 for 1st time since 2015 after North Sea pipeline outage

By Henning Gloystein SINGAPORE, Dec 12 : – Brent crude oil prices jumped above $65 per barrel for the first time since 2015 after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market that was already tightening due to OPEC-led production cuts. Brent crude futures, the international benchmark for […]

U.S. regulator raises concerns about weights on energy pipelines

By Nia Williams and Valerie Volcovici CALGARY, Alberta/WASHINGTON, Dec 4 : A US regulator’s preliminary investigation into the biggest oil pipeline spill this year has raised a red flag that could trigger an extensive and costly inspection of tens of thousands of miles of underground energy lines. The 5,000-barrel leak on TransCanada Corp’s Keystone pipeline […]

Venezuela Maduro gains control over oil contracts amid purge

By Alexandra Ulmer and Deisy Buitrago CARACAS, Dec 4 : Venezuela’s President Nicolas Maduro on Sunday gained more powers over the OPEC member’s oil contracts, as a deepening purge looks set to strengthen the leftist leader’s control of the key energy sector amid a debilitating recession. A months-long crackdown on alleged graft in Venezuela’s oil […]

Iraq’s November oil exports from south increase to 3.5 mln bpd

By Aref Mohammed BASRA, Iraq, Dec 1 : Oil exports from Iraq’s southern ports rose to an average of 3.5 million barrels per day (bpd) in November from 3.35 million bpd in October, Basra Oil Company Director General Ihsan Abdul Jabbar told Reuters on Friday. Southern exports are on the rise as Iraq looks to […]