Mexico shutting 600,000 bpd oil output due cold front
28296
Mexico's state-owned oil company Pemex was shutting down about one-fifth of its daily output on Sunday due to bad weather, but said it expects to quickly resume output within days.
16676
Oil prices surge to near record highs after production facilities are attacked in Mexico.
425524
LONDON Crude oil fell from a record high in London on Thursday on speculation the United States may use oil from its emergency stockpiles to keep refineries running after Hurricane Ivan curtailed supplies from the Gulf of Mexico.
207598
Officials at Mexico's state-owned oil monopoly said Monday that the company has detected massive new oil deposits in the Gulf of Mexico that could potentially double the country's reserves, but industry analysts cautioned that the  findings are still unproven.
322336
ANCHORAGE, Alaska  - BP Plc. BP.L BP.N,   working to restore Prudhoe Bay crude oil output after a   two-month reduction, closed the adjacent Lisburne oil field in   Alaska on Thursday due to a methane gas leak, the company said   on Friday.
473270
OPEC plans to reduce its output by nearly 2 percent in February, an indication that it wants to keep oil prices above $60 a barrel next year.
447624
OPEC, the oil producers&#39; cartel, agreed yesterday to clamp down on its excess production, which has seen crude prices tumble by one-quarter in just six weeks.
365180
Oil prices held firm on Wednesday as  Hurricane Ivan closed off crude output and shut refineries in  the Gulf of Mexico, while OPEC's Gulf producers tried to  reassure traders by recommending an output hike.
471314
Energy giant BP has said it was shutting down America's biggest oil field after an ageing Alaskan pipeline sprang a leak, sending crude prices shooting up on world markets.
619152
Crude oil futures begin to factor in colder weather in the US Northeast and OPEC decision to cut production to keep the prices high.
646099
Oil fell below $60 on Friday, reversing course from the previous day as traders weighed OPEC's plans to cut production by 1 million barrels per day (bpd) against overflowing stockpiles.
237265
Freezing temperatures across much of the US push oil prices back up sharply to nearly $60 a barrel.
570519
Hurricane Ivan spared the critical Gulf Coast refining belt, but oil prices rose anyway Thursday on fears a new storm brewing in the Caribbean will delay tankers carrying imported crude to U.S. ports.Ivan swept east of major refineries, tank farms and other facilities in Louisiana and Texas. It also bypassed the biggest concentrations of offshore oil and gas production platforms in the Gulf of Mexico.ChevronTexaco's Pascagoula, Miss., refinery was the closest to the hurricane's path and remained closed Thursday. "The preliminary (damage) assessment is somewhat positive," said spokesman Steve Renfroe, who said the company had not determined when it could restart the plant.But on Ivan's heels Tropical Storm Jeanne knocked out a portion of production at a refinery in the U.S. Virgin Islands and barreled toward Puerto Rico.As a result, oil for October delivery rose 30 cents to &#36;43.88 a barrel on the New York Mercantile Exchange.Energy companies feared Ivan would make landfall in Louisiana or Texas and damage refineries there. The Gulf Coast accounts for nearly half of U.S. daily refining capacity of 16 million barrels. U.S. refiners are running near capacity to build stocks of winter heating fuels."The industry dodged a bullet in that the storm was really a couple of hundred miles east of refinery row (north of New Orleans) up the Mississippi River," said Jeff Dietert, refining industry analyst at Simmons &amp; Co. He said precautionary closures eliminated about 1.5 million barrels of gasoline and other products from the daily total.One of the nation's most important pipelines, the Capline carrying imported crude from New Orleans to Patoka, Ill., for Midwest refiners, was undamaged, said Shell, operator of the line.Still, Dietert predicted higher futures prices for oil and gasoline - and ultimately for consumers - after the government reports data on fuel stockpiles next week. That report will show how much oil companies and their customers have drawn from crude and gasoline inventories to make up for deliveries delayed by Ivan and Jeanne.Colm McDermott, analyst at energy research firm John S. Herold, said consumers might escape without much pain. If the impact of the refinery closures and delivery delays is short-lived, wholesalers, retailers and others in the supply chain might eat price increases rather than pass them on.Reuters reported that Ivan forced the shutdown of eight refineries, or 13% of U.S. capacity. Half of those were restarting Thursday.Offshore, Shell and other producers were flying work crews back out to some evacuated oil and gas platforms and doing aerial damage assessment of others.Shell said its refining and chemical plants in Louisiana had restarted or were never shut down. A Mobile, Ala., chemical plant remained closed, it said.
45772
World oil prices surged nearly $2 on  Friday on worries the stormy season in the Gulf of Mexico would  continue to hamper energy production and imports, delaying  vital stock building ahead of the coming winter months.
573283
Crude oil in New York traded near a record high as US producers in the Gulf of Mexico struggled to restore output cut by Hurricane Ivan at a time when refiners are trying to build up winter-fuel supplies.
591969
Oil prices were in focus as OPEC ministers meet in Vienna on output levels and as oil majors shut-in production and evacuated workers ahead of Hurricane Ivan blowing into the Gulf of Mexico.
627242
A cold front moving through Texas spawned several tornadoes, killing one person and destroying several homes. The front followed about four days of thunderstorms and flooding remained a concern.