Oil and Gas Refining
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NEW YORK-- The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 300,000 barrels in the week ended May 10, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
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NEW YORK, May 14- Brent crude oil prices fell on Tuesday after a global energy watchdog described world supplies as "comfortable" and analysts forecast a continued build in the U.S. crude inventory, while gasoline rose 1 percent on expected inventory draws ahead of the summer driving season.
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CARACAS, May 14- Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market, joining a growing list of countries that struggle with fuel supplies despite ample oil reserves.
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*IEA steeply raises non- OPEC supply forecast. *OPEC will barely have to raise output in next 5 years. LONDON, May 14- Rising U.S. shale oil production will help meet most of the world's new oil demand in the next five years, even if the global economy picks up steam, leaving little room for OPEC to lift output without risking lower prices, the West's energy agency said.
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*IEA steeply raises non- OPEC supply forecast. *OPEC will barely have to raise output in next 5 years.
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NEW YORK-- Hess Corp. says it is willing to add two of Elliot Capital Management's nominees to its board after they agreed to forgo compensation from the hedge fund. But Elliot Management says the Hess move is a stunt, and it wants shareholders to hold out for bigger changes.
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*Brent oil loses 1 pct on lighter U.S./ China demand. NEW YORK, May 13- Oil prices dropped their most in two weeks on Monday on data pointing to lighter U.S. and China energy demand, and gold slipped too as stronger U.S. retail sales boosted risk appetite among some investors that dulled the metal's safe-haven lure.
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*China oil demand in April at eight-month low. NEW YORK, May 13- Crude oil prices settled lower on Monday after a choppy day of trading, hit by slowing oil demand in China and data showing the biggest drop for U.S. retail gasoline sales in more than four years.
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*China oil demand in April at eight-month low. NEW YORK, May 13- Crude oil prices fell on both sides of the Atlantic on Monday, hit by slowing oil demand in China and data showing the biggest drop for U.S. retail gasoline sales in more than four years.
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NEW YORK-- With days to go before Hess Corp.' s annual shareholder meeting, activist shareholder Elliot Capital Management's nominees to the energy company's board said they will forgo certain compensation that they could have received from the hedge fund if elected to the board.
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*China oil demand falls in April to eight-month low. LONDON, May 13- Crude prices fell to $103 a barrel on Monday weighed by a stronger dollar and a drop to an eight-month low in oil demand in the world's second-largest consumer China. "The economic data in China is not yet providing upward support.
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*Palladium expected to average $740/ oz in next 6 months. LONDON, May 13 (Reuters- China's demand for cars and lower Russian palladium sales should keep the world market for the metal used for autocatalysts in deficit and send its price to the highest since mid-2011, refiner Johnson Matthey said.
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*China oil demand falls in April to eight month low. *Oil flow on Kirkuk- Ceyhan pipeline resumes-sources. LONDON, May 13- Crude prices slipped towards $103 a barrel on Monday as oil demand in the world's second-largest consumer China fell to eight-month lows, weighing on the global outlook for the fuel.
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*Oil flow on Kirkuk- Ceyhan pipeline resumes-sources. SINGAPORE, May 13- Brent futures slipped towards $103 a barrel on Monday as both implied oil demand and refinery crude throughput in the world's second-largest oil consumer China fell to eight-month lows, with a firm dollar also weighing on prices. Brent crude slipped 71 cents to $103.20 a barrel by 0622 GMT.
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*Libya unrest supports crude prices. NEW YORK May 10- Brent and U.S. crude oil ended slightly down on Friday, after trading sharply lower for much of the session, rebounding as the U.S. dollar weakened and on late news reports that more oil would flow through BP Plc's Whiting, Indiana, refinery.
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*OPEC boosts 2013 oil demand forecast. NEW YORK/ LONDON, May 10- Crude futures on both sides of the Atlantic lost ground on Friday as rising fuel supplies and a stronger dollar put oil under pressure. By 12:39 p.m. EDT, Brent futures were $1.81 lower at $102.66 a barrel, after falling as to a low of $101.56.
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*Nagging doubts on China recovery. LONDON, May 10- Brent crude tumbled towards $102 a barrel on Friday as rising fuel supplies and a stronger dollar put oil under pressure. Brent was down $2.11 at $102.36 a barrel by 1356 GMT.
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*Nagging doubts on China recovery. LONDON, May 10- Brent crude oil tumbled below $103 a barrel on Friday as rising supplies and doubts over China's economy outweighed stronger signs of a U.S. recovery. Brent was down $1.80 at $102.67 a barrel by 1216 GMT.
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*Nagging doubts on China recovery. LONDON, May 10- Brent crude oil slid below $104 a barrel on Friday as rising supplies and doubts over China's economy Friday outweighed stronger signs of a U.S. recovery. Brent was down 56 cents at $103.91 a barrel by 0938 GMT.
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*Nusra Front only competitor to tribes. BEIRUT, May 10- In Syria's eastern province of Deir al-Zor, a network of tribes and smugglers has exploited the chaos of war to create an illicit oil trade that makes European hopes of buying crude from President Bashar al-Assad's opponents a distant prospect.