Europe
Oil falls as UK North Sea oil pipeline moves closer to restart
LONDON (Reuters) — Oil prices fell on Thursday after the operator of Britain's Forties pipeline in the North Sea said it was expected to restart in early January after repairs over Christmas.
Belgian tanker group Euronav to buy US rival Gener8 Maritime
LONDON (Reuters) — Tanker operator Euronav is to buy US rival Gener8 Maritime to create one of the world's top oil shipping fleets, the companies said on Thursday, in an all-stock deal worth an estimated $490 MM.
OPEC starts working on oil supply cut exit strategy
LONDON/DUBAI (Reuters) — OPEC has started working on plans for an exit strategy from its deal to cut supplies with non-member producers, two OPEC sources said, a sign that an eventual winding down of the deal is coming onto producers' radar, at least in theory.
UK's Forties North Sea oil pipeline due to restart in early Jan
LONDON (Reuters) — Britain's Forties oil and gas pipeline, one of the biggest in the North Sea, should be repaired around Christmas, its operator Ineos said on Thursday, the earlier end of a timeframe the company gave to carry out the work.
BASF, SINOPEC expand NPG production capacity in China
LUDWIGSHAFEN, Germany and NANJING, China — BASF and SINOPEC will expand the production capacity of Neopentylglycol (NPG) at the state-of-the-art Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China.
Ineos presses ahead with crude pipeline repairs
LONDON (Reuters) — Ineos said repairs to Britain’s Forties crude pipeline were underway on Wednesday, after a crack was found that closed the pipeline on Dec. 11.
Rosneft does not rule out global oil output cuts extended beyond 2018
SOCHI, Russia (Reuters) — A global deal to cut oil production could be extended beyond 2018, Pavel Fedorov, first vice-president of Russia's largest oil producer Rosneft said on Monday, presenting the company's strategy through to 2022.
Unipetrol's largest minority shareholder to sell stake to PKN Orlen
PRAGUE (Reuters) — Czech downstream oil group Unipetrol's largest minority shareholder Paulinino Limited will sell its stake to majority owner PKN Orlen when it opens a voluntary tender offer next week, Paulinino said on Wednesday.
Oil rises on UK pipeline outage but US supply caps gains
LONDON (Reuters) — Oil edged up towards $64/bbl on Tuesday, helped by a North Sea pipeline outage, OPEC-led supply cuts and jitters about threats to Middle East supplies after a missile was fired by a Yemeni group at the Saudi capital.
Russia's Transneft halts domestic oil product pipeline after spill
MOSCOW (Reuters) — Russian pipeline monopoly Transneft on Monday said it had stopped pumping oil products such as diesel through one of its lines after discovering signs of an oil spill.
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