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Oil and Gas Refining

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  • 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..

  • UPDATE 1-Western Refining says margins strengthening Tuesday, 6 May 2014 | 6:55 AM ET

    Inland refiners such as Western Refining, HollyFrontier Corp and Marathon Petroleum Corp are benefiting from easy access to cheap shale crude, boosting their refining margins.

  • *Not considering active dealings on Iran crude. *Idemitsu likely bought around 2,000 bpd of Iran crude in yr ended March. TOKYO, May 2- Japanese refiner Idemitsu Kosan Co said it will buy either no crude or a maximum of one cargo from Iran in the year through March 2015, a move that could keep at bay any potential U.S. pressure over oil shipments from the Islamic republic.

  • MOSCOW, May 2- Russian oil output, the world's largest, slipped by 0.2 percent to 10.54 million barrels per day in April, declining for the fourth month in a row as production from new fields failed to offset a slowdown from mature deposits. Energy Minister Alexander Novak has forecast oil production will be flat or slightly higher this year.

  • Hoeven, a North Dakota Republican, said he has 55 co-sponsors for a bill that would take the power to approve the TransCanada Corp's pipeline out of the hands of the State Department and put it in the hands of Congress.

  • NEW YORK, April 30- A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia, on Wednesday, spilling oil into the James River and forcing hundreds to evacuate. In its second oil-train accident this year, CSX said 15 cars of a train traveling from Chicago to Virginia derailed at 2:30 p.m. EDT.

  • NEW YORK, April 30- A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia on Wednesday, spilling oil into the James River and forcing hundreds to evacuate. CSX said 15 cars on a train traveling from Chicago to Virginia derailed at 2:30 p.m. EDT.

  • *Events in Ukraine, Libya and Iran closely watched. NEW YORK/ LONDON, April 30- Brent crude oil futures finished just above $108 per barrel on Wednesday after trading below that most of the day as crude oil inventories in the United States rose to a record high and traders anticipated increased exports from Libya.

  • NEW YORK, April 30- A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia on Wednesday, spilling oil into the James River and forcing hundreds to evacuate. In its second oil-train accident this year, CSX said 15 cars on a train traveling from Chicago to Virginia derailed at 2:30 p.m. EDT.

  • NEW YORK, April 30- A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia on Wednesday, spilling oil into the James River and forcing the evacuation of hundreds. CSX said 15 cars derailed at 2:30 p.m. EDT on a train traveling from Chicago to Virginia.

  • *Events in Ukraine, Libya and Iran closely watched. NEW YORK/ LONDON, April 30- Oil fell below $108 per barrel on Wednesday on a strong supply outlook as inventories in the United States rose to a record high and traders anticipated increased exports from Libya.

  • UPDATE 2-Phillips 66 profit tops street, shale boom helps Wednesday, 30 Apr 2014 | 1:49 PM ET

    Phillips, based in Houston, had a first-quarter profit of $1.6 billion, or $2.67 per share, compared with $1.41 billion, or $2.23 a share, in the same quarter of 2013..

  • April 30- Canadian oil and gas producer Cenovus Energy Inc reported a better-than-expected operating profit, helped by a 48 percent jump in production at its Christina Lake oil sands project in northern Alberta.

  • *Asset prices in Dubai soar with economic recovery. RAS AL KHAIMAH, United Arab Emirates, April 30- W hen French wine and cognac bottle maker Saverglass decided to expand three years ago, it chose a relatively remote, less affluent location in the United Arab Emirates for its plant rather than the business hubs of Dubai and Abu Dhabi.

  • LAUNCESTON, Australia, April 30- First it was oil refining and now it's petrochemicals getting a reality check in China. In recent months China has seen a slew of delays and cancellations to oil refinery and petrochemical projects, as the full impact of slower economic growth, pollution concerns and foreign competition hits home.