Energy Update
With record US crude oil inventory levels in 2015, the glut is providing a mighty fine feast for the refining sector. Amanda Rayborn and Luciano Battistini explain.
LAUNCESTON, Australia, Dec 4 (Reuters) - China's renewing of its oil purchase deals with Iran not only provides a boost to the Islamic Republic's hopes of re-establishing itself in global markets, it also underscores why this week's OPEC meeting is largely irrelevant.
SINGAPORE, Dec 4 (Reuters) - U.S.
HOUSTON, Dec 3 (Reuters) - The U.S. Federal Energy Regulatory Commission on Thursday said Colonial Pipeline Co must justify proposed sweeping changes to its tariff governing how gasoline and distillates are shipped on the clogged fuel artery before it can take effect next year.
NEW YORK, Dec 3 (Reuters) - General Electric Co expects benefits from its acquisition of Alstom SA's power business to come in at the low end of the U.S. conglomerate's previous estimate for 2016, the company said on Thursday, citing delays in closing the deal.
HOUSTON, Dec 3 (Reuters) - Mexico's state-run oil company Pemex has expanded its brand to Houston, Texas, with the first gasoline station bearing its name outside of Mexico, the company said on Thursday.
Dec 3 (Reuters) - Oil traders rushed to buy U.S. heating oil on Thursday, retreating from their short positions and causing a technical rally that pushed the benchmark over 6 percent higher after dipping to a six-year low earlier this week.
NICOSIA, Dec 3 (Reuters) - Peace is within reach in Cyprus, U.S.
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