Correspondent, London
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Jun 27, 2012

Oil falls on Europe anxiety, oil strike

LONDON (Reuters) – Brent crude oil fell on Wednesday on mounting concerns that European leaders would fail to solve the region’s intractable debt crisis at a key meeting this week, offsetting tighter North Sea oil supply.

Brent crude had fallen $1.13 to $91.89 per barrel by 0833 GMT. U.S. crude was down 59 cents at $78.77.

Jun 20, 2012

Brent oil slips, Europe worries weigh

LONDON (Reuters) – Brent crude oil fell on Wednesday, pinned near 17-month lows, hit by worries over Spain’s high borrowing costs and prospects for global demand growth.

Brent oil for August delivery was down 68 cents at $95.08 per barrel by 0630 EDT. It fell as low as $94.86 earlier, near Tuesday’s trough of $94.44, its lowest since January, 2011.

Jun 20, 2012

Brent hovers below $96, not far off 17-month low; Fed eyed

LONDON (Reuters) – Brent crude oil fell on Wednesday, pinned near 17-month lows, hit by worries over Spain’s high borrowing costs and prospects for global demand growth.

Brent oil for August delivery was down 68 cents at $95.08 per barrel by 0630 EDT. It fell as low as $94.86 earlier, near Tuesday’s trough of $94.44, its lowest since January, 2011.

Jun 15, 2012

Oil up on Greece hopes, Iran eyed

LONDON, June 15 (Reuters) – Oil futures gained on Friday,
supported by hopes that Greece’s pending elections would result
in a government that favours the country’s recently negotiated
bailout and after a report that major central banks stood ready
to help stabilise markets.

Oil reversed earlier losses after the U.S. markets opened,
with traders shrugging off negative consumer sentiment data.

Jun 15, 2012

Insight: Russian bid for UK refinery brings controversy

MOSCOW/LONDON (Reuters) – A former Russian energy minister has emerged as sole bidder for a bankrupt British oil refinery, and controversy over his past deals with distressed assets may be overlooked in last-ditch efforts to rescue the plant and up to 900 jobs.

Igor Yusufov remains interested in buying the Coryton refinery in Essex, say people close to both sides of the talks. The plant, a unit of bankrupt Swiss oil firm Petroplus, has run out of oil and its workers will be laid off if no deal can be reached.

Jun 15, 2012

Russian bid for UK refinery brings controversy

MOSCOW/LONDON, June 15 (Reuters) – A former Russian energy
minister has emerged as sole bidder for a bankrupt British oil
refinery, and controversy over his past deals with distressed
assets may be overlooked in last-ditch efforts to rescue the
plant and up to 900 jobs.

Igor Yusufov remains interested in buying the Coryton
refinery in Essex, say people close to both sides of the talks.
The plant, a unit of bankrupt Swiss oil firm Petroplus, has run
out of oil and its workers will be laid off if no deal can be
reached.

Jun 14, 2012

Coryton refinery workers hold London march for jobs

LONDON, June 14 (Reuters) – Workers fighting to save their
jobs at the bankrupt Coryton refinery in Britain took their
fight to Prime Minister David Cameron on Thursday, marching to a
court where he was giving evidence and chanting “we got sold
out”.

Angered over what they say are plans involving Royal Dutch
Shell to turn the refinery into a storage terminal,
which would put most of the 900 employees and contractors out of
a job – demonstrators shouted: “Shell, Shell, go to hell!”

Jun 13, 2012

Brent steady above $97 ahead of OPEC meet, Greek polls

LONDON (Reuters) – Brent crude oil held firm on Wednesday, with investors awaiting the outcome of the meeting this week of the producer group OPEC, while gains were capped by worries about Europe’s debt crisis and prospects for oil demand.

Iran’s oil exports have fallen by an estimated 40 percent since the start of the year as Western sanctions tear into the country’s vital oil industry, the International Energy Agency said on Wednesday.

Jun 11, 2012

UK oil refinery workers disrupt supply of fuel

PURFLEET, England, June 11 (Reuters) – Workers from
Britain’s Coryton oil refinery on Monday disrupted the supply of
fuel heading to some petrol stations in the southeast of the
country to protest against the plant’s closure and demand the
government intervene to save 900 jobs.

The protests are unlikely to lead to widespread fuel
shortages across Britain, which has seven other functioning
refineries, but they are an unwelcome distraction for the
government less than two months before the start of the Olympic
Games in London.

May 31, 2012

Coryton shutdown begins next week -PwC

LONDON (Reuters) – The UK’s financially strapped Coryton refinery will run out of crude oil and start shutting down in phases beginning by the middle of next week, its joint administrator said on Thursday.

The prospects of finding a buyer for Coryton look increasingly remote, said joint administrator Steven Pearson, of PricewaterhouseCoopers. The refinery was one of several owned by Petroplus, Europe’s largest independent refiner before it declared insolvency.

    • About Simon

      "I am a senior correspondent at Reuters in London, working on the energy desk covering the oil market, both physical and futures, with a particular focus on oil products. I have been at Reuters since January 2007, and did stints on the foreign exchange and stockmarkets desk before moving to commodities. I sometimes write lifestyle pieces, and have a particular interest in food and literature."
      Joined Reuters:
      2007
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