** Shares of U.S. oil and gas companies fall for the second straight day** Crude prices fell around 2% on concerns over excess global crude supply and limited progress toward resolving a U.S.-China trade dispute that has clouded the outlook for oil demand ** Russia unlikely to deepen oil output cuts, three sources tell Reuters** Oil prices also hit by a larger-than-expected rise in Norwegian oil production and the prospect of a further increase in U.S. crude inventories, suggesting ample … [Read more...]

Amnesty International said on Tuesday that more than 100 protestors had been killed in 21 cities in Iran during unrest that broke out over a rise in fuel prices last week.Snipers have shot into crowds of protestors from rooftops and, in one case, from a helicopter, Amnesty said.The anti-government protests began on Friday after fuel price rises of at least 50 percent were announced.An Iranian official said they had subsided on Tuesday, a day after the Revolutionary Guards warned of … [Read more...]

Encana Corp shareholder Letko, Brosseau & Associates Inc said on Tuesday it will vote against the oil and gas company's proposed exit from Canada to the United States.The investment firm, which owns a nearly 4% stake in the company, said the move will cause significant losses for Canadian investors. (Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur) … [Read more...]

** Shares of oil and gas services provider slump as much as 34% to an all-time-low of $4.86 ** Now trading at $5.5 ** Stock biggest pct. loser across U.S. exchanges; set for its worst day ever** Company launches cost-reduction program to "address the abrupt deterioration in industry conditions, which accelerated downward through the end of the third quarter" - KLXE** Expects a $13 mln charge related to cost-cut measures and a non-cash asset impairment charge of between $45 mln and … [Read more...]

U.S. REFINERY FILING BLANCHARD REFINING GALVESTON BAY REFINERY(This item is an automated alert generated directly from a government database of environmental notices filed by energy companies. It may be followed by a news story depending on the severity of the incident's impact on operations.)Cause: Coker wet gas Compressor trip resulted in flaring Source 1:: Flare # 2 311 Source 2:: Source 3:: Action taken: The compressor was restarted and unit resumed normal … [Read more...]

Valero Energy Corp warned of planned flaring at its 85,000-barrel-per-day (bpd) Los Angeles-area refinery in Wilmington, California, according to a filing with state pollution regulators on Tuesday. The filing with the South Coast Air Quality Management District listed event start date as Nov. 19, 8:30 a.m.(local time) and event end date as Nov. 23, 12:00 p.m.(local time). A refinery uses its safety flare when hydrocarbons cannot be processed normally due to a malfunction or planned work. … [Read more...]

Shares in Europe dipped, Wall Street backed off record highs and the U.S. dollar was poised to extend a three-day losing streak as underwhelming earnings and uncertainty over an ongoing U.S. impeachment inquiry overshadowed hopes for a U.S.-China trade deal. The U.S. benchmark S&P 500 index was nominally lower and Home Depot Inc pulled the blue-chip Dow Jones Industrial index firmly into the red after the home improvement retailer cut its 2019 sales forecast. Talks continued between the … [Read more...]

Oil production in North Dakota fell 37,000 barrels-per-day (bpd) to 1,443,000 bpd in September, monthly data from the state Industrial Commission showed.The data was released on the North Dakota Industrial Commission's monthly index report page and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission's general statistics report, also available on its website. … [Read more...]