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Oil and Gas Refining

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  • India's April Iran oil imports drop as buying spree cools Wednesday, 14 May 2014 | 5:55 AM ET

    *Imports fall as India, other Iran clients ease off buying surge. *Iran 8th largest crude supplier to India in April, down from 4th. India and other top buyers of Iranian oil- China, Japan and South Korea- let their purchases rise sharply in the first three months of the year, after the temporary deal easing some sanctions on Tehran went into effect in January.

  • KHOBAR, Saudi Arabia, May 13- Saudi Basic Industries Corp expects its planned oil-to-chemicals plant to start operations by the end of 2020, it said on Tuesday.

  • SHANGHAI, May 13- China's crude oil runs, oil demand and total base metals production unexpectedly fell in April from the preceding month, with slackening power generation also fanning concerns that the world's second-largest economy is not yet on a stable footing.

  • BEIJING, May 13- China's implied oil demand fell 0.8 percent in April from the previous month to its lowest since September as refineries scaled back production for maintenance and continued to export surplus fuel to trim inventories as the nation's economy slowed.

  • HOUSTON, May 12- After a spate of fiery derailments, the scramble to make North Dakota's Bakken crude oil safer when it's being transported on trains has focused on better tracks, slower speeds, and reinforced railcars that bypass urban areas.

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 12- If you are looking for an explanation as to why crude oil prices in Asia aren't lower, then the blame rests squarely with Chinese stockpiling.

  • Brazil court opens Petrobras bank records to police Thursday, 8 May 2014 | 10:45 PM ET

    SAO PAULO, May 8- A Brazilian federal court on Thursday gave police access to bank records of Brazil's state-run oil company Petroleo Brasileiro SA in a widening money laundering probe focused on refineries in Brazil and the United States.

  • *Japan to shut three naphtha crackers from 2014 to 2016. SINGAPORE/ TOKYO, May 9- A series of Japanese petrochemical plant closures starting this month will crimp demand for naphtha in the world's No.3 economy, dragging on regional markets for the plastic-making ingredient just as supplies are increasing.

  • LONDON, May 8- Asia is more at risk from any disruption to Middle East oil supplies than Europe or the United States but is less prepared to deal with such a scenario, according to a new report from Britain's Royal Institute of International Affairs.

  • SHANGHAI, May 8- China's imports of major commodities rose strongly in April, although a rise in crude oil and copper imports was attributed to stockpiling as a rebound in manufacturing in the world's second-biggest economy remained modest.

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 8- How long can strength in China's commodity imports co-exist with weakness in other key indicators, such as manufacturing?

  • WASHINGTON, May 7- Democratic U.S. In a speech on the Senate floor, Landrieu, who represents the oil-producing state of Louisiana where public support for Keystone runs high, urged Republican leaders to reverse themselves and accept a deal offered by Senate Majority Leader Harry Reid.

  • NEW YORK, May 7- Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.

  • *Cushing stocks down 1.4 million barrels- EIA. NEW YORK, May 7- U.S. crude oil prices rose by more than $1 a barrel on Wednesday after a government report showed an unexpected sharp drop in inventories in the United States. U.S. crude rose $1.18 to $100.68 a barrel by 12:57 p.m. EDT, with its discount to Brent narrowing about 40 cents to $7.11 a barrel.

  • VANCOUVER, May 7- Enbridge Inc, Canada's largest pipeline company, said on Wednesday its Flanagan South and Seaway expansion projects in the United States aimed at more than doubling capacity to Gulf Coast refineries were on track to begin operating in the next few months.

  • May 7- Enbridge Inc, Canada's largest pipeline company, reported a 56 percent rise in quarterly profit, helped by higher volumes on its regional oil sands system, and the company said it was on track to meet its full-year adjusted profit forecast. Excluding one-time items, Enbridge earned 60 Canadian cents per share.

  • SEOUL, May 7- U.S. crude futures rose in early Asian trade on Wednesday, moving back towards $100 a barrel after the American Petroleum Institute said U.S. crude stocks declined last week, defying analysts' expectations for a build. *U.S. crude gained 37 cents a barrel at $99.87 as of 0033 GMT after it settled 2 cents higher at $99.50 a barrel on the previous session.

  • *Increasingly unlikely Senate will vote on Keystone oil pipeline. The Senate voted 79-20 to move toward a debate on the energy bill, making it the first big energy legislation to reach the Senate floor since 2007..

  • The ruling could have broad implications for the biofuel mandate, as various groups weigh challenges to EPA's management of the program. The oil industry unsuccessfully urged the EPA to lower the federal mandate to use 16.55 billion gallons of biofuels in 2013, saying it would unduly burden refiners.

  • *Unclear if Senate will vote on Keystone. The Senate voted 79 to 20 to advance the legislation, the first big energy bill to reach the Senate floor since 2007..