Oil and Gas Refining
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ABUJA, Feb 7- Exxon Mobil on Thursday declared force majeure on Nigeria's benchmark Qua Iboe crude oil exports due to pipeline repair work, the company's local unit said, cutting output from Africa's top producer.
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LONDON, Feb 7- Oil reached its highest level since September on Thursday after the head of the European Central Bank chief said inflationary pressures were likely to diminish and due to renewed tensions in the Middle East. March Brent futures were up 77 cents at $117.50 a barrel at 1442 GMT.
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NEW YORK, Feb 6- Commodities fell broadly on Wednesday, retreating from gains posted in the previous session, as a rebounding dollar and increased supplies of some raw materials weighed on prices.
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*Iran nuclear talks in focus, set for Feb. 26. LONDON, Feb 6- Brent crude oil futures fell on Wednesday, pressured by ample supply and fresh worries about Europe's debt crisis.
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Gas prices are at their highest level on record for the month of February, with CNBC's Sharon Epperson.
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RIO DE JANEIRO, Feb 5- The worst annual result in eight years at Brazil's state-led oil company Petrobras prompted it to cut the common-share dividend as it sought to preserve cash to maintain investments as fuel and refining losses mount, executives said on Tuesday.
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*California refineries seeking cheaper crude. HOUSTON, Feb 5- Phillips 66 has begun moving cut-price Canadian crude to its California refineries via rail, an executive told analysts on Tuesday at a Credit Suisse energy conference in Colorado.
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Guy Wolf, global head of market analytics at Marex Spectron, tells CNBC that the demand environment generally for gas is on the wane.
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RIO DE JANEIRO, Feb 5- The worst annual result in eight years at Brazil's state-led oil company Petrobras prompted it to cut the common-share dividend as it sought to preserve cash to maintain investments as fuel and refining losses mount, executives said on Tuesday.
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RIO DE JANEIRO, Feb 4- Brazil's state-led oil company, Petroleo Brasileiro SA, said on Monday that fourth-quarter net profit rose 53 percent from a year earlier as unexpected financial gains made up for rising operational costs.
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CALGARY, Alberta, Feb 4- Alberta could offer up new environmental initiatives for oil sands development to show the Obama administration that approving a $5.3 billion pipeline to U.S. Gulf Coast refineries will not increase pollution, the Canadian province's new envoy in Washington said on Monday.
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*Marathon now owner of refinery with deadly past under BP. HOUSTON, Feb 1- Marathon Petroleum Corp on Friday closed its $2.4 billion acquisition of BP Plc's Texas City, Texas, refinery, both companies said.
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HOUSTON/ SAN FRANCISCO, Feb 1- Renewed strength in refining and chemicals led to higher-than-expected fourth-quarter earnings for Exxon Mobil Corp and Chevron Corp, the two largest U.S. oil companies.
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*Kearl budget rises by C $2 bln to C $12.9 bln. *Q4 EPS C $1.26/ shr vs year-earlier C $1.18/ shr. CALGARY, Alberta, Feb 1- Imperial Oil Ltd said on Friday the cost of its recently completed Kearl oil sands project in northern Alberta ballooned to C $12.9 billion, nearly 20 percent above its last estimate, because of transportation delays and a harsh winter.
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*Q4 earnings per share ex-items $3.27 vs Street view $3.03. The second-largest U.S. oil producer said fourth-quarter net income rose to $7.2 billion, or $3.70 per share, from $5.1 billion, or $2.58 per share, a year earlier.
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Feb 1- Chevron Corp posted a rise in quarterly profit on Friday as its refining arm managed to improve earnings despite the crippling of the company's oldest refinery last August by a fire. The second-largest U.S. oil producer said fourth-quarter net income rose to $7.2 billion, or $3.70 per share, from $5.1 billion, or $2.58 per share, a year earlier.
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LAUNCESTON, Australia, Feb 1- The easy thing to predict about China's crude oil imports this year is that they will be higher than in 2012, the trickier question is by exactly how much.
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Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil.
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WASHINGTON, Jan 31- The Obama administration's decision on the Keystone XL oil pipeline will not be made until at least June, a U.S. official said, which would delay the project for months and frustrate backers of Canada's oil sands.
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SINGAPORE/ TOKYO, Feb 1- Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil. From Asia, Iran lost $14 billion worth of oil exports for the year, according to Reuters calculations.