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Oil and Gas Refining

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  • *Gross refining margin $8.7/ bbl in Q1 from $8.4/ bbl yr ago. MUMBAI, July 19- Indian energy conglomerate Reliance Industries Ltd's quarterly net profit topped market expectations, bolstered by strong revenue growth in its oil and gas business and higher margins in its core refining business.

  • LONDON, July 18- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.

  • Are Swiss trading houses turning into banks? Not quite Thursday, 17 Jul 2014 | 9:55 AM ET

    LONDON, July 17- The world's top trading houses appear to be quickly turning into commodity finance banks, by lending billions of dollars to clients as a decades-long dominance of French banks shrinks.

  • FACTBOX-Rosneft's key international projects Thursday, 17 Jul 2014 | 8:56 AM ET

    -BP obtained a 19.75 percent stake in the Kremlin-controlled company as part of a deal that saw the British firm sell Rosneft its stake in the Anglo-Russian oil producer TNK-BP for $55 billion last year. BP's head Robert Dudley, a U.S. citizen, sits on Rosneft's board.

  • NYMEX-U.S. crude extends gains on crude inventory drop Wednesday, 16 Jul 2014 | 8:32 PM ET

    SEOUL, July 17- U.S. crude futures extended gains in early Asian trade on Thursday after rallying more than $1 in the previous session, supported by government data showing a sharper fall in U.S. crude stocks than forecast. *U.S. crude for August delivery gained 30 cents to $101.50 a barrel as of 0007 GMT.

  • NEW YORK, July 16- U.S. crude oil rose more than $1 on Wednesday, rebounding from recent steep drops after government data showed the country's crude stockpiles fell sharply last week.

  • Railroads say up to 44 oil trains weekly cross NY Wednesday, 16 Jul 2014 | 11:25 AM ET

    ALBANY, N.Y.— As many as 44 trains a week, each loaded with at least a million gallons of volatile crude oil from North Dakota's Bakken region, move through upstate New York, according to documents released Tuesday by the state.

  • California hearing addresses oil refinery rules Wednesday, 16 Jul 2014 | 3:28 AM ET

    LOS ANGELES— Residents of modest neighborhoods near three of the largest oil refineries in California called on the Environmental Protection Agency on Wednesday to crack down on plant emissions, saying the pollution is choking their children and endangering their health.

  • BEIJING, July 16- China's implied oil demand rose in June to its highest level since January 2013 as crude runs hit a record high, although there were still doubts that the numbers reflected a healthy economy.

  • WASHINGTON, July 15- The U.S. refining industry has not agreed to a deal reached by oil producers and railroads on improving the safety of oil tank cars, it said on Tuesday, suggesting a key piece of anticipated reforms remains unsettled.

  • Oil falls below $100 for first time since May Tuesday, 15 Jul 2014 | 2:13 AM ET

    The price of oil fell below $100 a barrel for the first time since May even as the deteriorating security situation in Libya has raised questions about whether the country can soon increase crude exports. Prices have been falling in recent weeks as worries about supply disruptions from Iraq eased and on the prospect of more supplies from Libya.

  • NEW YORK, July 14- A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.

  • LONDON, July 14- Brent crude oil steadied around $107 a barrel on Monday, close to its lowest in three-months after weeks of heavy falls on signs of improving supply from key producers and weak demand in some consuming centers.

  • LONDON, July 14- Brent crude oil slipped towards $106 a barrel on Monday, its lowest for three months, depressed by signs of improving supply from key producers and weak demand in some consuming centres.

  • INFLUENCE GAME: Shaping US railroad safety rules Sunday, 13 Jul 2014 | 8:39 AM ET

    Billions of dollars are riding on how these rules are written, and lobbyists from the railroads, tank car manufacturers and the oil, ethanol and chemical industries have met 13 times since March with officials at the White House and the Pipeline and Hazardous Materials Safety Administration.

  • LONDON, July 11- Global oil demand growth will accelerate next year as the world economy expands and will again be met by rising supplies from the United States and Canada, further eroding OPEC's market share, the West's energy watchdog said on Friday.

  • LONDON, July 11- Oil headed for its third straight weekly loss on Friday as worries about supply losses in the Middle East and North Africa eased, pushing North Sea Brent crude down towards $108 a barrel.

  • LONDON, July 11- Global oil demand growth will accelerate next year as the world economy expands and will again be met by rising supplies from the United States and Canada, further eroding OPEC's market share, the West's energy watchdog said on Friday.

  • TOKYO, July 10- U.S. crude oil fell below $102 on Thursday, to trade at its lowest level in more than a month, on wavering demand for gasoline and projections for rising supplies from OPEC member Libya. *U.S. crude futures for August delivery fell 32 cents to $101.97 a barrel by 0002 GMT, after earlier trading as low as $101.72- the lowest level since June 5.

  • DUBAI, July 9- Saudi Arabia produced 9.780 million barrels per day of crude oil in June, up from 9.705 million bpd in May, an industry source familiar with the matter said on Wednesday. The world's largest oil exporter and OPEC heavyweight supplied 9.745 million bpd to the market, the source said.