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Oil and Gas Refining

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  • HOUSTON, Feb 3- At tense meetings just days before the first major U.S. refinery strike in 35 years was called on Sunday, union leaders grew increasingly pessimistic about getting a new labor contract and a sizable wage increase. The USW had always viewed Shell as the most flexible of the big oil companies, much easier to negotiate with than Exxon Mobil Corp or...

  • HOUSTON, Feb 3- A strike by U.S. refinery workers entered a third day on Tuesday as contact resumed between the lead industry negotiator, Royal Dutch Shell Plc, and union leaders over a new nationwide wage deal. Asked about the status of the contact on Tuesday, Shell spokesman Ray Fisher said: "The USW and Shell continue to dialogue." "No meetings have been scheduled as of...

  • *Dollar heads for sharpest one-day loss since July 2013. NEW YORK, Feb 3- Oil prices rose on Tuesday, headed for the biggest four-day advance since January 2009 as a tumbling dollar sent commodities rallying. Benchmark Brent crude oil was up $3.77 at $58.52 a barrel by 2:02 p.m. ET.

  • The U.S. Environmental Protection Agency's comments in a letter to the State Department give weight to President Barack Obama's view that the controversial pipeline should not be approved if it significantly increases carbon pollution. The State Department, which is evaluating the project because the TransCanada Corp pipeline would carry oil from a...

  • "You've got a number of themes working to push the market higher," said Phil Flynn, analyst at Price Futures Group in Chicago. Benchmark Brent crude oil was up $1.41 at $56.16 a barrel by 1724 GMT, after rallying to a one-month high of $57.23. U.S. crude, or WTI, rose $1.47 to $51.04, having reached $51.55 earlier.

  • "You've got a number of themes working to push the market higher," said Phil Flynn, analyst at Price Futures Group in Chicago. Benchmark Brent crude oil was up $1.28 at $56.03 a barrel by 1653 GMT, after rallying to a one-month high of $57.23. U.S. crude, or WTI, rose $1.13 to $50.70, having reached $51.55 earlier.

  • HOUSTON, Feb 3- A strike by U.S. refinery workers entered a third day on Tuesday as contact resumed between the lead industry negotiator, Royal Dutch Shell Plc, and union leaders over a new nationwide wage deal, the company said. After leaving the negotiating table early on Sunday when talks broke down, prompting labor leaders to call a strike, Shell late on Monday...

  • Iranian fuel oil exports trade skirts sanctions Tuesday, 3 Feb 2015 | 11:34 AM ET

    DUBAI, Feb 3- Iran is sidestepping Western sanctions and managing to sell hundreds of thousands of tonnes of fuel oil every month through companies based in the U.S.-allied United Arab Emirates, trading sources told Reuters. But Tehran has been using innovative methods to circumvent the restrictions, several Middle East- based trading sources said.

  • WASHINGTON, Feb 3- The U.S. environmental regulator urged the State Department to weigh plunging oil prices in its forthcoming recommendation on the Keystone XL oil pipeline, saying such a drop could mean the project will lead to higher greenhouse gas emissions. The State Department's review last year found that oil sands production "is expected to be most...

  • HOUSTON, Feb 3- At tense meetings just days before the first major U.S. refinery strike in 35 years was called on Sunday, union leaders grew increasingly pessimistic about getting a new labor contract and a sizable wage increase. Officials from Royal Dutch Shell Plc, the lead negotiator for oil companies, were repeatedly saying it would be too hard to meet the...

  • HOUSTON, Feb 2- Royal Dutch Shell Plc negotiators met on Monday with the union representing workers at U.S. refineries as a strike stretches into a third day after talks on a new national contract broke down. "Representatives from Shell and the United Steelworkers union resumed communications on Monday in hopes of coming to a mutually satisfactory contract...

  • HOUSTON, Feb 2- Royal Dutch Shell Plc said late on Monday it resumed contact with the union representing workers at U.S. refineries as a strike stretched into a second day after talks on a new national contract broke down. But one of the affected plants, Tesoro Corp's 166,000- barrel-per-day Martinez, California, refinery, was being fully shut down, since part of it...

  • One of the affected plants, Tesoro Corp's 166,000- barrel-per-day Martinez, California, refinery, was being fully shut down, since part of it was already in the midst of planned maintenance work. "In the short term, the strikes are definitely driving prices up," said Phil Flynn of Price Futures Group in Chicago. Gasoline futures traded in New York rose more than $0.05...

  • NEW YORK, Feb 2- Oil prices rose in volatile trading on Monday, with some investors betting a powerful rally from Friday had put a bottom to the seven-month long rout on the market even as others remained pessimistic. "People are very, very skittish," said analyst Chandravir Ahuja of Kolmar Americas Inc in Bridgeport, Connecticut. Benchmark Brent crude was up $1.45 at...

  • One of the affected plants, Tesoro Corp's 166,000- barrel-per-day Martinez, California, refinery, was being fully shut down, since part of it was already in the midst of planned maintenance work. "In the short term, the strikes are definitely driving prices up," said Phil Flynn of Price Futures Group in Chicago. Gasoline futures traded in New York rose more than $0.05...

  • The U.S. Energy Information Administration plans on Wednesday to report official stock numbers for Cushing and other oil market data for the week ended on Friday. "We saw some strength in the market this morning, but that's being sold into," said Tariq Zahir, managing member of Tyche Capital Advisors in Laurel Hollow, New York. Benchmark Brent crude was up 70 cents at...

  • Feb 2- Imperial Oil Ltd's Kearl oil sands project expansion will start ahead of schedule, the company said on Monday, in the latest sign that weak crude prices are failing to dent oil sands growth. Imperial, Canada's second-largest integrated oil producer and refiner, said construction on the Kearl expansion in northern Alberta is essentially complete.

  • Feb 2- Imperial Oil Ltd, Canada's second-largest integrated oil producer and refiner, posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices as well as weaker refining and marketing margins. Imperial Oil joins a list of Canadian and U.S. oil and gas producers who have scaled back capital spending plans for 2015, following a sharp decline in oil...

  • Imperial Oil profit slumps as oil prices plunge Monday, 2 Feb 2015 | 8:11 AM ET

    Feb 2- Imperial Oil Ltd, Canada's second-largest integrated oil producer and refiner, posted a 36.5 percent fall in quarterly profit, hurt by lower crude prices and weaker refining margins. The company's net income fell to C $671 million, or 79 Canadian cents per share, in the quarter ended Dec. 31 from C $1.06 billion, or C $1.24 per share, a year earlier.

  • HOUSTON, Feb 2- Union workers were on strike for a second day on Monday at nine U.S. refineries and chemical plants as they sought a new national contract with oil companies covering laborers at 63 plants. One of the plants, Tesoro Corp's 166,000- barrel-per-day Martinez, California, refinery, was being shut because it was in the midst of planned maintenance work.