Oil and Gas Refining
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The Saudi's investment in a Texas refinery's expansion is meant to ensure that it will retain an important market for its crude in the United States at a time when American politicians intend to wean the country off imported oil, The New York Times reports.
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The Saudi's investment in a Texas refinery's expansion is meant to ensure that it will retain an important market for its crude in the United States at a time when American politicians intend to wean the country off imported oil, The New York Times reports.
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--Clyde Russell is a Reuters market analyst. That's the question that should be asked after Thursday's announcement by Royal Dutch Shell that it would close its Geelong refinery in Victoria state and convert it to an import terminal if a buyer couldn't be found.
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*Report says levy could rise to C $40/ tonne from C $15. CALGARY, Alberta, April 4- Alberta is considering a major increase in the carbon levy it charges oil producers as it seeks to show Washington that it is serious about meeting emission-reduction goals, while promoting the contentious Keystone XL pipeline to Texas refineries.
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CALGARY, Alberta, April 4- Alberta is considering a major increase in the carbon levy it charges oil producers as it seeks to show Washington it is serious about meeting emission-reduction goals, while promoting the contentious Keystone XL pipeline to Texas refineries.
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Saudi Aramco raised the official selling price for its main Arab Light grade for May to a premium of $1.80 a barrel over regional benchmark Oman/ Dubai crude, up from $1.30 for April cargoes, and the first increase in three months.
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In the options market, big money can be made pretty quickly. For one trader, it only took a day. Here's how he did it.
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"The report is somewhat bearish given the build in crude oil inventories and modest decline in gasoline inventories, which are the focus of the market," said John Kilduff, partner at Again Capital LLC in New York.
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DEAD SEA, Jordan, April 3- After midnight on one of Jordan's busiest highways, only the beaming headlights of vehicles driving between the capital Amman and the Dead Sea pierce the gloom. The highway is lined with street lights as it weaves down from Amman to the valley floor below sea level, but none are switched on.
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*CVR Energy, HollyFrontier vulnerable to higher RIN costs. CVR Energy Inc and HollyFrontier Corp, inland refiners with limited capacity to blend biofuels into the pipeline, are suffering from a jolt to investor confidence while stocks of their coastal peers continue a two-year upward march.
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Two pipeline spills have prompted new criticism from opponents of the proposed Keystone XL project, while raising questions about whether the government is adequately monitoring U.S. pipelines. The NYT reports.
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NEW YORK-- The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 2.5 million barrels in the week ended March 29, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
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CALGARY, Alberta, April 2- Two high-profile oil spills won't stem the now-record flow of Canadian oil into the United States, despite the frenzy that the spills triggered among friends and foes of the Keystone XL pipeline to the main U.S. refineries.
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Although U.S. crude has flirted with its highs, market observers and professional traders alike think oil could push lower.
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Brent crude oil rose early, then reversed to fall as much as $1 a barrel, before settling down 39 cents a barrel at $110.69. U.S. crude slipped in post-settlement trading, and was down 22 cents at $96.85 as of 4:12 p.m. in New York. The premium of Brent to U.S. light sweet crude ended at $13.50 after the spread between the two widened as much as $14.66.
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The Environmental Protection Agency said Friday that the proposal would raise gasoline prices by less than a penny a gallon and add about $130 to the price of new vehicles, beginning in 2025..
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*Economic outlook for U.S./ Europe worries. LONDON, April 2- Ample supplies and concerns over the pace of U.S. economic recovery and a wobbly euro zone economy outweighed the prospect of stronger demand in Asia to pull oil below $111 a barrel on Tuesday. Brent slid 21 cents to $110.67 a barrel by 1424 GMT.
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Pro trader Anthony Grisanti looks at why he doesn't think gas prices will soon soar.
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MAYFLOWER, Ark.-- The environmental impacts of an oil spill in central Arkansas began to come into focus Monday as officials said a couple of dead ducks and 10 live oily birds were found after an ExxonMobil Corp. pipeline ruptured last week.
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LONDON, April 2- Oil edged further above $111 a barrel on Tuesday as the prospect of stronger demand in Asia outweighed concern over the pace of economic recovery in top consumer the United States.
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SINGAPORE, April 2- Brent crude steadied under $111 a barrel on Tuesday, supported by prospects of stronger appetite in Asia but hurt by concerns over the pace of economic recovery in top consumer the United States.