09272016Tue
Last update: Tue, 27 Sep 2016 08am

Europe

Markets - Energy - Europe

Total says actively moving towards Uganda FID as early as end-2017 PARIS: French oil and gas company Total is actively moving towards a final investment decision as early as end-2017 for its giant onshore oil project in Uganda, president for exploration and production Arnaud Breuillac told investors on Thursday. Uganda granted Total a 25-year production license for the project in August, clearing a major hurdle as the east African nation aims to move more quickly towards crude production. An agreement on an export pipeline route through Tanzania has also been reached, Total said in an investor presentation. Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil market extends gains LONDON: Oil prices climbed Thursday, building on the previous day's gains following a bigger-than-forecast fall in US stockpiles, and a plunge in the dollar after the Federal Reserve kept interest rates on hold.The commodity had already rallied Wednesday after the US Department of Energy said crude inventories had tumbled by more than six million barrels last week.That confounded market expectations for a gain of three million barrels, and indicated a pick-up in demand in the ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks firm as US stocks draw sharply LONDON: Benchmark gasoline refining margins in northwest Europe edged higher on Wednesday after US inventories of the motor fuel fell sharply last week, but the expected restart of a major US pipeline capped gains. US gasoline stocks fell by 3.2 million barrels last week, compared with analysts' expectations in a Reuters poll for a 567,000 barrels drop, according to the US Energy Information Administration. Stocks in PADD1 were down nearly 8.5 million barrels, while PADD3 ...

Markets - Energy - Europe

Europe's refineries run more crude in Aug LONDON: Europe's refineries ran 1.1 percent more crude oil in August versus a month earlier, data from industry monitor Euroilstock showed on Wednesday.Crude oil intake fell by 0.7 percent from a year earlier, but refinery run rates have proven more resilient than some expected at the close of the summer driving season.Production of gasoline rose by 3.6 percent from July, while distillates rose by 0.6 percent, the data showed. Output of fuel oil and naphtha ...

Markets - Energy - Europe

Transneft says transit of Kazakh oil via Atyrau-Samara could reach 17mn t in 2017 MOSCOW: Russia's oil pipeline monopoly Transneft said Kazakhstan oil transiting via the Atyrau-Samara pipeline could rise by as much as 2 million tonnes in 2017 to 17 million tonnes, due to the start of supplies from the Kashagan oilfield. That would amount to 340,000 barrels a day. Transneft head Nikolai Tokarev said that the company had already held preliminary talks with shareholders of Kashagan on transit volumes. The Kashagan field off Kazakhstan in the Caspian ...

Markets - Energy - Europe

W. Africa Crude-Sellers cut diffs to entice buyers, BPCL issues tender LONDON: Angola's Sonangol has issued a revised loading plan for November that includes a total of 1.69 million barrels per day (bpd) of crude oil, according to a programme seen by Reuters on Wednesday. The head of Nigeria's central bank says it has an agreement with state oil company NNPC under which international oil and oil services companies will sell all their foreign currency through a mechanism created to funnel the money directly to importers ...

Markets - Energy - Europe

Oil steady with producers' meeting, US data on horizon LONDON: Oil prices stabilised Tuesday with analysts expecting volatility in the run-up to a producers' meeting next week, while traders are also awaiting the release of US stockpiles data.Around 1630 GMT, Brent North Sea crude for delivery in November was down four cents at $45.91 a barrel compared with Monday's close.US benchmark West Texas Intermediate for October firmed 39 cents to $43.69 a barrel.The commodity plunged last week on supply glut worries but bounced slightly ...