Oil and Gas Refining
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*Sabah is country's top palm oil growing region. Malaysia's military launched a dawn attack on the group on Tuesday, trying to end a standoff after violence that killed at least 27 people and sparked fears of broader insecurity in Sabah-- the country's top oil palm growing state.
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decade@ HOUSTON, March 5- Production of oil and gas from shale basins like the Eagle Ford in south Texas are growing fast enough that North America may be an energy exporter within a decade, the chief executive of ConocoPhillips said on Tuesday.
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Speaking at the annual IHS CERAWeek conference in Houston, al-Falih said Saudi Arabia, an OPEC member, had maintained its maximum potential oil production at 12.5 million barrels per day, leaving its cushion of spare capacity unchanged at 2.5 million bpd. "
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*Sabah is country's top palm oil growing region. Singapore's Wilmar International and Malaysia's KL Kepong and Kwantas Corp own the refineries and have been slowing operations following a curfew imposed by authorities last week after Filipino gunmen attacked Malaysian security forces in Sabah.
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March 4- Delta Air Lines Inc said on Monday it is expects to produce 40,000 barrels-per-day at its 185,000 bpd Trainer, Pennsylvania refinery by the end of the year, a lower rate than a goal first proposed when it bought the refinery last year.
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Hess will exit its retail, energy marketing, and energy trading businesses following pressure from an activist investor to break up the company.
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The Keystone XL oil pipeline got a boost after the U.S. State Department said it would not likely change the rate at which Canada's oil sands are produced.
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WASHINGTON, March 1- The Keystone XL oil pipeline got a boost on Friday when the U.S. State Department said the project would not likely change the rate at which Canada's oil sands are developed, discounting fears it would be responsible for additional greenhouse gas emissions.
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In a domestic energy market developing faster than just about anyone can remember, the key is in finding an edge.
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LONDON, March 1- OPEC crude oil output rose in February, the first monthly increase since October, due to higher exports from Iraq and a slight increase in supply from top exporter Saudi Arabia, a Reuters survey found on Friday.
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GENEVA, Feb 28- Vitol, the world's biggest oil trader, reported revenues that topped $300 billion for the first time in 2012, while its profit margin was under increasing pressure after slipping below 1 percent to a four-year low the previous year.
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LONDON, Feb 27- Oil slipped towards $112 a barrel on Wednesday after stockpiles of crude rose in top consumer the United States, pressuring an already well supplied market. Inventories of crude oil rose by 1.13 million barrels in the week to Feb. 22, the Energy Information Administration said in a weekly report.
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LONDON, Feb 27- European motorists, upset at high fuel prices, may be surprised to know that a significant portion of the continent's petrol is sold to the United States, where gasoline retails at less than half the cost.
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Charles Drevna, National Petrochemical and Refiners Association, discusses whether U.S. refineries are ready for the nation's new found supply of oil fields.
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*Third of Nigeria, Algerian exports in limbo as shale booms. LONDON/ GENEVA, Feb 26- African crude exports to the United States could slip to a trickle this year as the world's top oil consumer enjoys a shale oil boom, allowing China, often now the buyer of last resort, to become ever more choosy.
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CALGARY, Alberta, Feb 25- The U.S. shale oil revolution is forcing Canada's oil sands industry to question whether there is a future in processing its crude into lighter oil, a tried-and-true way of wringing the most money out of a resource considered crucial to the country's prosperity.
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Feb 25- China Petroleum& Chemical Corp, Asia's largest oil refiner, will buy a 50 percent stake in Chesapeake Energy Corp's Mississippi Lime oil and gas properties in Oklahoma and Kansas for $1.02 billion, a Sinopec source said.
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Feb 25- China Petroleum& Chemical Corp, Asia's largest refiner, will buy a 50 percent stake in Chesapeake Energy Corp's Mississippi Lime oil and gas assets in Oklahoma and Kansas for $1.02 billion, a company source told Reuters.
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Tom Bergin, Author of Spills and Spin, tells CNBC that the BP pay-out to the US government is the worst case scenario according to what analysts had previously envisaged.
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--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Feb 25- The easing in the growth rate of HSBC's flash Purchasing Managers' Index for China is a signal to commodity markets not to get too far ahead of themselves. The flash PMI, the earliest indicator of China's economic health, retreated to 50.4 in February from a two-year high of 52.3 in January.