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Oil and Gas Refining

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  • TRIPOLI, June 6- Libya has lost $30 billion due to 10 months of protests at oilfields and export terminals but has sufficient foreign currency reserves to keep the country running, a central bank official said.

  • *Oil set for 2nd weekly drop on easing Ukraine tension, ample supply. SINGAPORE, June 6- Brent nudged higher to hover just under $109 a barrel on Friday, but was set to post a second straight weekly fall on easing Ukraine tensions and ample supply.

  • Brent steady under $109, set for 2nd weekly loss Thursday, 5 Jun 2014 | 11:51 PM ET

    *Oil set for 2nd weekly drop on easing Ukraine tension, ample supply. SINGAPORE, June 6- Brent nudged higher to hover just under $109 a barrel on Friday, but was set to post a second straight weekly fall on easing Ukraine tensions and ample supply.

  • *Ukraine president-elect works on peace plan with Western leaders. LONDON, June 5- Oil fell to a three-week low below $108 a barrel on Thursday as worries about risks to supply caused by violence in Ukraine eased on hopes that talks could resolve the situation.

  • *Ukraine president-elect works on peace plan with Western leaders. LONDON, June 5- Oil fell to a three-week low below $108 a barrel on Thursday as worries about risks to supply caused by violence in Ukraine eased on hopes that talks could resolve the situation.

  • SINGAPORE, June 5- Brent crude slipped to a three-week low at $108 a barrel on Thursday as tensions over Ukraine cooled, while ample supply in top oil consumer United States also dragged down prices.

  • Brent hits 3-wk low as Ukraine tensions cool Wednesday, 4 Jun 2014 | 10:48 PM ET

    SINGAPORE, June 5- Brent crude slipped to a three-week low at $108 on Thursday on ample supply in the United States and as tensions over Ukraine cooled. Brent crude fell for a fifth session, matching a similar losing run in January, and was down 10 cents at $108.30 a barrel by 0220 GMT. It earlier hit $108, its lowest since May 12.

  • SINGAPORE, June 5- U.S. crude slipped toward $102 a barrel on Thursday as geopolitical tensions eased, with Ukraine's President-elect and western leaders working on a peace plan to end violence in eastern Ukraine. *U.S. crude for July delivery touched a low of $102.19 a barrel and was at $102.22 by 0035 GMT, down 42 cents.

  • NEW YORK, June 4- Brent and U.S. crude ended lower on Wednesday as hopes that a peace plan from Ukraine's president-elect might help ease the crisis with Russian separatists cooled oil's earlier rally.

  • *U.S., China data fuels hope economy is stabilizing. NEW YORK, June 3- Brent crude steadied and U.S. crude erased earlier losses to push higher on Tuesday as economic data from the United States and China supported prices that have been under pressure recently because of increasing global oil production.

  • *Libya burning reserves due to oil export blockade. TRIPOLI, June 3- Libya's currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills.

  • CALGARY, Alberta, June 2- Rising U.S. imports of crude oil from Canada's oil sands have not increased greenhouse gas emissions from the country's oil refineries because they have been offset by refining of cleaner domestic crudes, a report from a private sector think tank said on Monday.

  • LONDON, June 2- Most of the extra oil produced in the United States in the next two years will be light crudes and condensates that domestic refineries will struggle to process- intensifying pressure for at least a partial relaxation of the country's export ban.

  • EL TIGRE, Venezuela May 30- Venezuela will appeal an arbitration ruling allowing refiner Phillips 66 to acquire state oil company PDVSA's 50 percent stake in a delayed coking unit at the Sweeny refinery, the oil minister said on Friday.

  • *Brent seen averaging $105.90, WTI $98.70 in 2014. Brent crude oil will average $105.90 a barrel in 2014, the Reuters monthly survey of 28 analysts projected, below the $108.19 average seen so far this year. In order to average $105.90 for 2014, Brent would need to drop sharply to an average of $104.26 a barrel for the remaining seven months of this year.

  • UPDATE 8-U.S. oil falls $1 on expected inventory build Wednesday, 28 May 2014 | 3:28 PM ET

    NEW YORK, May 28- U.S. crude fell more than $1 a barrel on Wednesday as traders took profit ahead of inventory reports that were expected to show a build in crude, while Brent edged lower, propped up by geopolitical tensions in Ukraine and Libya.

  • NEW YORK, May 28- U.S. crude fell more than $1 on Wednesday as traders took profit ahead of inventory reports that are expected to show a build in crude, while Brent edged slightly lower, propped up by geopolitical tensions in Ukraine and Libya.

  • NEW YORK, May 28- Crude oil prices slid lower for a second straight day on Wednesday as a stronger dollar and lower demand outweighed geopolitical tensions in Ukraine and Libya and positive economic data in the United States.

  • Gabon Oil Company to boost oil sales, eyes acquisitions Tuesday, 27 May 2014 | 10:21 AM ET

    LIBREVILLE, May 27- State-owned Gabon Oil Company plans to purchase new oil assets and market a bigger portion of Gabon's crude oil, its chief executive told Reuters, aiming to grow to compete alongside international oil firms.

  • Albany's tracks handle as much as a fourth of the oil pumped from North Dakota's booming Bakken Shale, or up to several 100- car trains per day, each carrying 70,000 barrels.