That could hinder OPEC's ability to boost output later in the year, when the International Energy Agency expects demand for OPEC crude to rise. Outages in the group, such as in Iraq and Libya, are effectively helping OPEC to balance the market, rather than voluntary cutbacks, say analysts.» Read More
SINGAPORE, April 29- U.S. crude inched closer to $101 a barrel on Tuesday, building on Monday's gains ahead of weekly inventories data as investors shrugged off more U.S. sanctions on Russia and an imminent rise in Libyan exports. *U.S. crude for June delivery edged up 8 cents to $100.92 a barrel by 0032 GMT after settling up 24 cents in the previous session.
BEIJING, April 28- China's top refiner Sinopec Corp is scaling back billions of dollars in petrochemical investments in the face of growing U.S. competition in the sector and rising local opposition to oil and gas plants over environmental concerns.
BEIJING, April 28- Sinopec Corp has held up a $3.1 billion ethylene plant in east China's Qingdao, after a fatal pipeline blast last year threw into question whether the city is environmentally viable for the petrochemical complex, a company source said on Monday.
*Russia says it will respond if its Ukraine interests attacked. SINGAPORE, April 24- Brent crude futures rose on Thursday, holding above $109 per barrel for a fifth straight session, as a vow by top oil producer Russia to respond if its interests in Ukraine came under attack stoked supply worries.
BRASILIA, April 24- Brazil's Supreme Court upheld late on Wednesday an opposition request for a congressional inquiry into alleged corruption at state-run oil company Petroleo Brasileiro SA, a ruling that could upset President Dilma Rousseff's re-election plans.
*U.S. oil stocks hit record high, Cushing draw supports. *Ukraine says truce is over, Russia says will respond. NEW YORK, April 23- Crude oil futures slipped on Wednesday after weekly data showed U.S. crude inventories hit a record high, though Brent managed to settle above $109 on support from the ongoing crisis in Ukraine.
India is set to pay Iran $1.65 billion under an interim nuclear deal that eases sanctions and gives Tehran access to $4.2 billion in blocked funds.
NEW DELHI, April 23- India is set to pay Iran $1.65 billion over the next three months under an interim nuclear deal that eases sanctions on Tehran and gives it access to $4.2 billion in blocked funds, four sources with knowledge of the matter said.
*Crude stocks drop on lower imports. BEIJING, April 23- China's commercial crude oil. China's crude oil imports in March fell to a five-month low of 5.54 million barrels per day, official data has shown, after three months of high inbound shipments and gains in fuel product inventories.
In January, the EPA agreed to reconsider the mandate, which would have required oil refiners to buy millions of dollars worth of credits if cellulosic fuels were not available to be blended into gasoline or diesel.
CALGARY/ VANCOUVER April 21- Six years after applying to build the Keystone XL pipeline, Canada's frustrated oil industry appears steadfast in its support of the plan even though Washington has again delayed a decision on whether to approve the politically charged project.
*Eyes on Ukraine peace deal, further sanctions on Russia. NEW YORK, April 21- Brent crude oil strengthened slightly while U.S. crude futures were briefly supported by positive economic data on Monday but prices were range-bound in low volumes following Easter Sunday with no significant escalation in tensions over Ukraine.
BRASILIA, April 20- Brazils President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday.
LONDON, April 17- Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972.. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970 s and then decline.
TOKYO/ SINGAPORE, April 17- Iran's crude oil exports fell for the first time in five months in March, and are slated to drop further in April, moving closer to the levels stipulated by November's temporary nuclear deal that eased some sanctions on Tehran.
*India's 2013/ 14 Iran imports at 222,000 bpd, down 16.5 pct- trade. The Geneva agreement struck between Iran and six world powers in November and implemented for six months from Jan. 20 eased some restriction on Tehran's oil trade in exchange for curbs to its nuclear programme.
LONDON, April 16- When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit. Europe's oil refining guru, Marcel van Poecke, believes the move will be repeated one day. They say:' We can buy BP for upstream and Valero for downstream.
NEW YORK, April 14- Brent crude oil rose more than $1.50 on Monday as tensions escalated in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the U.S. economy.
NEW YORK, April 14- Brent crude oil rose more $1.50 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.
NEW YORK, April 14- Brent crude oil rose $1 on Monday as Western powers considered tougher sanctions against Russia over its actions in Ukraine, while U.S. crude rose modestly after positive retail sales data signaled a rebound in the American economy.