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Oil and Gas Refining

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  • *Japan to shut three naphtha crackers from 2014 to 2016. SINGAPORE/ TOKYO, May 9- A series of Japanese petrochemical plant closures starting this month will crimp demand for naphtha in the world's No.3 economy, dragging on regional markets for the plastic-making ingredient just as supplies are increasing.

  • LONDON, May 8- Asia is more at risk from any disruption to Middle East oil supplies than Europe or the United States but is less prepared to deal with such a scenario, according to a new report from Britain's Royal Institute of International Affairs.

  • SHANGHAI, May 8- China's imports of major commodities rose strongly in April, although a rise in crude oil and copper imports was attributed to stockpiling as a rebound in manufacturing in the world's second-biggest economy remained modest.

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 8- How long can strength in China's commodity imports co-exist with weakness in other key indicators, such as manufacturing?

  • WASHINGTON, May 7- Democratic U.S. In a speech on the Senate floor, Landrieu, who represents the oil-producing state of Louisiana where public support for Keystone runs high, urged Republican leaders to reverse themselves and accept a deal offered by Senate Majority Leader Harry Reid.

  • NEW YORK, May 7- Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.

  • *Cushing stocks down 1.4 million barrels- EIA. NEW YORK, May 7- U.S. crude oil prices rose by more than $1 a barrel on Wednesday after a government report showed an unexpected sharp drop in inventories in the United States. U.S. crude rose $1.18 to $100.68 a barrel by 12:57 p.m. EDT, with its discount to Brent narrowing about 40 cents to $7.11 a barrel.

  • 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.