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Last update: Sun, 11 Dec 2016 02pm

Americas

Markets - Energy - Americas

Shell expects Brazil offshore unitization accord by early 2016 RIO DE JANEIRO: Royal Dutch Shell Plc expects to sign an agreement to join up, or unitize, its Parque das Conchas offshore fields Brazil's Campos Basin with an area owned by Brazil's government by early next year, the local-unit president said on Wednesday. Part of the oil and gas resources in Parque das Conchas extend into an un-leased area of Brazil's Subsalt Polygon, an area under government administration, and under Brazilian law the resource must be developed jointly by Shell, its partners India's ONGC and Qatar Petroleum, and the government. Andre Araujo, president of Shell in Brazil, said he hopes Brazil's oil regulator ANP will approve the unitization before the first oil output from the third phase of the Parque das Conchas development is planned to begin in March. Copyright Reuters, 2015 ...

Markets - Energy - Americas

Brent slips on OPEC worry; US crude steady ahead of inventory data NEW YORK: Brent crude futures settled lower on Tuesday on bets OPEC will not cut output to stem a supply glut when the world's biggest oil producers meet later this week, while U.S. crude steadied as some traders expected a stockpile drop.Expectations are high that Friday's meeting of the Organization of the Petroleum Exporting Countries in Vienna will choose to continue pumping crude at record levels to defend market share against non-member oil producers such ...

Markets - Energy - Americas

Oil prices tread water ahead of US data, OPEC meeting NEW YORK: Oil prices moved sideways Tuesday as traders awaited the weekly US petroleum report and an OPEC meeting seen as unlikely to reduce output despite persistently weak prices.US benchmark West Texas Intermediate for delivery in January rose 20 cents to $41.85 a barrel on the New York Mercantile Exchange.Brent North Sea crude for January, the international benchmark for oil, fell to $44.44 a barrel in London, down 17 cents from Monday's settlement."The crude oil ...

Markets - Energy - Americas

Oil down on bets OPEC won't cut output, gasoline rally supports NEW YORK: Crude futures were down on Tuesday on bets that OPEC will not cut output to stem a supply glut when the world's biggest oil producers meet this week, although a rally in U.S. gasoline and a weak dollar limited losses on the petroleum complex.Trading has been sluggish ahead of the Organization of the Petroleum Exporting Countries' meeting in Vienna on Friday amid worries the group will choose to keep output high to defend ...

Markets - Energy - Americas

Oil down nearly 1pc on bets OPEC will not cut output NEW YORK: Crude oil futures fell almost 1 percent on Tuesday on bets OPEC will not cut output to stem a supply glut when the world's biggest oil producers meet in Vienna later this week, although a rally in U.S. gasoline and a weak dollar limited losses.Traders and investors await a report later on Tuesday from industry group American Petroleum Institute, which could show a decline in U.S. oil stockpiles last week. The API report ...

Markets - Energy - Americas

Oil prices dip ahead of OPEC gathering NEW YORK: Oil prices finished a bit lower Monday ahead of an OPEC meeting expected to maintain policies that have kept prices down.US benchmark West Texas Intermediate for January delivery ended down six cents at $41.71 a barrel on the New York Mercantile Exchange.Brent North Sea crude for January delivery shed 25 cents to $44.61 a barrel.Friday's meeting of the Organization of the Petroleum Exporting Countries, though eagerly anticipated, is generally expected to maintain the ...

Markets - Energy - Americas

Oil retreats after pre-OPEC rally; Brent dips, US crude steady NEW YORK: Brent futures edged lower while U.S. crude gave back much of its earlier gains on Monday as a pre-OPEC-meeting rally and run-up in U.S. refined oil products faltered.A Reuters survey that estimated higher OPEC production in November, after a rise in Saudi Arabian output, also weighed on market sentiment.Another negative factor was the dollar's surge to an 8-month high, which weakened demand for dollar-denominated oil from holders of the euro and other currencies.Brent ...