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Oil and Gas Refining

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  • Valero second-quarter profit rises Wednesday, 30 Jul 2014 | 7:57 AM ET

    July 30- Valero Energy Corp, the largest U.S. independent refiner, on Wednesday reported an increase in quarterly profit as the company processed higher volumes of crude oil. San Antonio- based Valero said second-quarter profit rose to $651 million, or $1.22 per share, from $463 million, or 84 cents, in the same period a year earlier.

  • July 30- Cenovus Energy Inc, Canada's No.2 independent oil producer, said its second-quarter profit more than tripled, helped by increased production at its Christina Lake oil sands project in northern Alberta.

  • UPDATE 3-Brent steady around $108 in range-bound market Wednesday, 30 Jul 2014 | 4:40 AM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. *Libya says oil output stays at 500,000 bpd despite unrest. The European Union and the United States imposed further sanctions against Russia on Tuesday, targeting its energy banking and defense sectors in the strongest international action yet over Moscow's support for rebels in Ukraine.

  • UPDATE 2-Brent hovers near $107.50; U.S. data, Fed eyed Wednesday, 30 Jul 2014 | 3:14 AM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. The focus is now on Russia and how President Vladimir Putin will react to further sanctions imposed by the European Union and the United States.

  • UPDATE 1-Brent hovers near $107.50 ahead of U.S. data Wednesday, 30 Jul 2014 | 1:15 AM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. *Libya says oil output stays at 500,000 bpd. Geopolitical tensions in the Middle East, Africa and Europe continued to underpin prices, although so far there has been no major disruption to oil supplies.

  • Brent hovers near $107.50 ahead of U.S. data Tuesday, 29 Jul 2014 | 11:43 PM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. *Libya says oil output stays at 500,000 bpd. Geopolitical tensions in the Middle East, Africa and Europe continued to underpin prices, although so far there has been no major disruption to oil supplies.

  • TOKYO, July 30- U.S. crude oil futures regained some of the previous day's losses to trade above $101 early on Wednesday, after industry data showed U.S. petroleum stockpiles fell much more sharply than expected. *U.S. crude futures for September delivery rose 8 cents to $101.05 a barrel by 0000 GMT, after finishing 70 cents lower on Tuesday.

  • *EU reaches deal on Russia sanctions, prompts short rally. NEW YORK, July 29- Brent crude ended slightly higher on Tuesday as new sanctions on Russia looked set to worsen relations between Moscow and the West, while U.S. prices slipped after a Kansas refinery fire curbed demand for WTI crude.

  • July 29- CVR Refining's 115,000- barrel-per-day refinery in Coffeyville, Kansas, was shut on Tuesday after a fire broke out at a unit that upgrades gasoline, injuring four employees.

  • *EU reaches deal on Russia sanctions, prompts short rally. Brent futures pared losses after news that European Union governments agreed on Tuesday to impose additional economic sanctions on Russia.

  • July 29- Four employees were hurt in a fire at CVR Refining's 115,000- barrel-per-day refinery in Coffeyville, Kansas, after a fire broke out at an isomerization unit early on Tuesday, the company said in a statement.

  • LONDON, July 29- Somewhere in an office at the Bureau of Industry and Security in Washington, D.C., a mid-ranking government official is sitting down with a stack of dictionaries.

  • July 29- CVR Refining shut its 115,000- barrel-per-day Coffeyville refinery in Kansas after a fire broke out at an isomerization unit early on Tuesday, hurting four employees, the company said in a statement. Coffeyville police and fire officials were not immediately available for comment.

  • July 29- A fire at CVR Energy Inc's Coffeyville, Kansas refinery, early Tuesday forced the shutdown of all monitored units at the facility, energy industry intelligence service Genscape said. A company spokesman and officials from Coffeyville police and fire departments were not immediately available for comment.

  • July 29- A fire at CVR Energy Inc's Coffeyville, Kansas refinery, early Tuesday forced the shutdown of all monitored units at the facility, energy industry intelligence service Genscape said. A company spokesman and officials from Coffeyville police and fire departments were not immediately available for comment.

  • July 29- A fire which lasted about an hour injured four people early Tuesday at CVR Energy Inc's Coffeyville, Kansas refinery, according to local media reports. A company spokesman and officials from Coffeyville police and fire departments were not immediately available for comment.

  • *BP the biggest foreign investor in Russia with Rosneft stake. LONDON, July 29- Oil and gas producer BP reported a sharp rise in second quarter profits on Tuesday but warned that further Western sanctions on Russia could harm its business there and its relationship with Russian state oil company Rosneft.

  • -Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, July 29- China's refineries produced the most fuel on record in June and oil consumption reached the highest in 17 months, but there are still doubts as to the true strength of demand.

  • *South Korea, Japan refiners to take first two U.S. cargoes. *Iran condensate exports to China made at deep discounts. While buyers in Japan and South Korea have been willing to trial a U.S. grade of the super-light crude known as condensate, China has already locked in annual contracts with Tehran and is not expected to take any U.S. oil in the short-term.

  • HOUSTON, July 25- Exxon Mobil Corp is considering a multibillion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.S. shale oil boom, people with knowledge of the deliberations said.