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Oil and Gas Refining

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  • *TransCanada opens Gulf Coast line, breaking U.S. oil bottleneck. Brent, which slipped to as low as $107.90, was down 28 cents at $107.99 a barrel by 0734 GMT. U.S. oil eased 14 cents to $96.59, after settling $1.76 higher at $96.73.

  • Midwest to the Gulf Coast, traders are on high alert for a flood of crude they expect to drown local prices. Since late last year, analysts and traders have warned that the Gulf Coast will choke with so much oil that it may become the next Cushing- a storage and pricing hub so bloated that it depresses U.S. oil prices.

  • *TransCanada opens Gulf Coast line, breaking U.S. oil bottleneck. Brent, which slipped to as low as $107.90, was down 17 cents at $108.10 a barrel by 0438 GMT. U.S. oil slipped 25 cents to $96.48, after settling $1.76 higher at $96.73.

  • RIO DE JANEIRO, Jan 23- In October 2007, Brazilian President Dilma Rousseff, then chairwoman of state-run petroleum company Petrobras, proudly predicted that giant new offshore oil fields would usher in an age of Brazilian energy independence.

  • *TransCanada opens Gulf Coast line, breaking U.S. oil bottleneck. Brent crude fell 32 cents to $107.95 a barrel by 0252 GMT, after ending up $1.54, the highest settlement since Dec. 31. U.S. oil slipped 22 cents to $96.51, after settling $1.76 higher at $96.73.

  • RIO DE JANEIRO, Jan 23- In October 2007, Brazilian President Dilma Rousseff, then chairwoman of state-run petroleum company Petrobras, proudly predicted that giant new offshore oil fields would usher in an age of Brazilian energy independence.

  • SINGAPORE, Jan 23- U.S. crude futures eased in early Asian trade on Thursday after an industry report showed a sharp rise in crude stockpiles in the world's biggest oil consumer the United States. U.S. oil fell 13 cents to $96.60 a barrel by 0041 GMT, after rising $1.76 to settle at $96.73.

  • HOUSTON, Jan 22- Lifting the U.S. ban on crude exports would give refiners more flexibility to run a variety of grades and help narrow the gaping U.S. trade deficit, a Phillips 66 official said on Wednesday as did former Secretary of State James Baker.

  • CALGARY, Alberta, Jan 22- TransCanada Corp on Wednesday began delivering crude through a major new pipeline from Oklahoma to the Gulf Coast, commissioning a $2.3 billion project expected to help eliminate a bottleneck that has warped the U.S. oil market for three years.

  • LONDON, Jan 22- When Delta Air Lines announced it was buying the Trainer oil refinery from Phillips 66, in April 2012, the U.S. carrier hailed the transaction as "an innovative approach to managing our largest expense". The refinery remained in the red in 2013, reporting a loss of $116 million.

  • BP CEO: We are not in any discussions with Iran Wednesday, 22 Jan 2014 | 11:14 AM ET
    Robert "Bob" Dudley
  • CALGARY, Alberta, Jan 22- TransCanada Corp said on Wednesday it is shipping crude oil on the 700,000- barrel-per-day Gulf Coast pipeline, a $5.3 billion project expected to help eliminate a bottleneck that has warped the U.S. oil market for three years.

  • LONDON, Jan 22- Iran's oil exports have picked up modestly in January for the third consecutive month, according to sources who track tanker movements, adding to signs that the easing of sanctions pressure on Tehran is helping its oil exports to recover.

  • *Russia offered tax breaks, hoping for renaissance. *BP sees Russia, South America next to benefit from shale oil boom. MOSCOW, Jan 21- Russia will at least keep its oil production at record-high levels this year thanks to strong performance at new fields but there is little chance of significant further gains in output, analysts and officials said.

  • *Call on OPEC increased by 200,000 bpd for 2014. LONDON, Jan 21- Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the United States reaches record highs, the West's energy watchdog said on Tuesday.

  • BEIJING, Jan 20- China's oil consumption in 2013 posted the slowest rise in more than two decades, data showed on Monday, as softer economic growth sliced into demand for transportation and industrial fuels such as diesel. China's energy appetite has driven global oil demand growth for the past decade as usage slows in industrialized nations.

  • *Iran begins halting nuclear activity. SINGAPORE, Jan 20- Brent crude edged lower towards $106 per barrel on Monday, weighed down by data which showed China's oil consumption slowed in 2013 and as Iran started implementing a nuclear deal with world powers. Brent crude for March delivery was down 31 cents at $106.16 per barrel at 0816 GMT.

  • LAUNCESTON, Australia, Jan 20- Oman futures, one of the main benchmarks for Asian oil buyers, may this year break a seasonal pattern of rising in the first quarter before dropping in the second. Last year, Oman futures climbed 6.9 percent from the start of the year to its second highest peak for the year at almost $114 a barrel on Feb. 14.

  • BEIJING, Jan 20- China's implied oil demand grew 1.6 percent for 2013, the weakest yearly growth in five years, and fell 7.5 percent in December from a year earlier according to Reuters calculations based on government data. Inventory changes, which China rarely divulges, are not included.

  • Secretary of State John Kerry offered no timetable on Friday for a U.S. decision on TransCanada Corp's planned Keystone XL oil pipeline, saying he hopes an analysis of public comments on its environmental impact would be done soon.

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