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UBS said it sees less upside at Royal Dutch Shell as it lowered its recommendation on the oil major from 'buy' to 'neutral'. "Through [recent] outperformance and the more aggressive response to the challenging environment among some peers we see the shares as offering less relative value and hence a
Read moreUBS said it sees less upside at Royal Dutch Shell as it lowered its recommendation on the oil major from 'buy' to 'neutral'. Shell's shares have fallen 15% in dollar terms over the last 12 months, compared with the wider European sector which has declined 20%. "Through this outperformance and the m
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MANAMA, March 9 (Reuters) - Kuwait Oil Company (KOC) plans to issue a tender this year for oilfield enhanced service agreements open to competition by international oil companies, chief executive Hashem Hashem said on Monday. In remarks to reporters at a conference in Bahrain, Hashem added
Read more* Oil price recovery, flattening contango trigger storage sales * Sales focus on oil stored on tankers * Prices could come under pressure as stored oil adds to glut By Florence Tan SINGAPORE, March 9 (Reuters) - Traders who have been storing oil since the start of the year
Read moreHOUSTON, March 6 (Reuters) - Police blocked several hundred striking laborers from entering Shell Oil Co's downtown Houston headquarters during a protest on Friday to demand a new labor contract for U.S. refinery workers. Officers quickly moved to guard entrances to the 50-story building as
Read moreBy Jarrett Renshaw NEW YORK, March 6 (Reuters) - Delta Air Lines Inc's Philadelphia-area refinery has struck a deal with the local union that will likely prevent the facility from joining the country's largest U.S. refinery strike in 35 years. United Steelworkers 10-234 and Monroe En
Read moreLONDON, March 6 (Reuters) - Shell has no timeline to restart the Seibou 2 wellhead in Nigeria that it closed in January after it leaked 550 barrels of crude oil, a spokeswoman said on Friday. The company said it closed the well, which is operated by Shell Petroleum Development Company of Ni
Read moreOne day after loose monetary policy in Europe pushed UK stocks to a new record high, fears about a sooner-than-expected tightening in the States dragged markets lower on Friday after a forecast-smashing US jobs report. Mining stocks were providing a drag in London as commodity prices weakened in the
Read more* New energy policy draft measures * East Africa gas finds attracting companies By Fumbuka Ng'wanakilala DAR ES SALAAM, March 6 (Reuters) - Tanzania will give priority to domestic use of its natural gas resources over exports under energy policy draft measures seen by Reuters on
Read moreSantander has downgraded UK oil majors Royal Dutch Shell and BP, both primarily on valuation but also with the view that both are likely to struggle in 2015. The bank downgraded BP to an 'underweight' recommendation from 'hold', and cut Shell to 'hold' from its previous 'buy' stance. On the upside,
Read moreMANILA, March 6 (Reuters) - The Philippines' First Gen Corp is talking with potential partners for its proposed $1 billion LNG import terminal, the head of the energy firm said on Friday. First Gen, one of the Southeast Asian nation's biggest power producers, has been under pressure to mak
Read moreBy Catherine Ngai NEW YORK, March 4 (Reuters) - A novel oil futures storage contract, which debuts as the market struggles to find places to stow oil stockpiles, may flounder because of infrastructure constraints, traders say. On Wednesday, CME Group Inc said it was starting a physically
Read moreMOSCOW, March 4 (Reuters) - Alexander Khoroshavin, the governor of Russia's Far Eastern island of Sakhalin, has been placed under investigation, the regional administration said on its website on Wednesday. Media reports said Khoroshavin had been detained in Sakhalin and was being taken to
Read more(Adds details) LONDON, March 3 (Reuters) - Shell's 400,000 barrel per day Pernis refinery in the Netherlands, one of Europe's largest, has begun planned maintenance that will close large parts of the plant until early May, Shell's Dutch language website said. The work, will involve on
Read moreLONDON, March 3 (Reuters) - Shell's 400,000 barrel per day Pernis refinery in the Netherlands, one of Europe's largest, has begun planned maintenance that will close large parts of the plant until early May, Shell's Dutch language website said. The work, will involve one million man-hours o
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