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Oil and Gas Refining

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  • More refinery closures on the cards for 2014 -IEA Wednesday, 11 Dec 2013 | 6:32 AM ET

    *New refineries in China will start to have effect in 2014. LONDON, Dec 11- An increase in new oil refining capacity and a rise in production of fuel not processed at refineries will lead to more plant closures in 2014, the International Energy Agency said in its latest monthly report.

  • SINGAPORE, Dec 11- U.S. oil futures traded at their highest in six weeks above $98 a barrel on Wednesday after U.S. data showed a larger-than-expected drop in crude inventories.

  • TRIPOLI, Dec 10- Leaders of a movement seeking autonomy for Libya's eastern Cyrenaica region said on Tuesday they could allow oil exports to resume on Sunday from several ports if Tripoli meets their demands and allows the region to take its share of crude.

  • SINGAPORE, Dec 10- Brent crude rose toward $110 a barrel on Tuesday, recouping some of the previous session's sharp losses, as data from China reaffirmed signs of stabilising growth and fuel demand in the world's second-largest oil consumer.

  • RIO DE JANEIRO, Dec 9- A Brazilian oil union said Monday that it plans to go on strike to protest allegedly unsafe conditions at state-run oil company Petroleo Brasileiro SA's REPAR Refinery, the site of a Nov. 28 fire that shut more than 10 percent of Brazil's fuel output.

  • *TransCanada says Gulf Coast oil pipeline fill begins. Brent's premium to U.S. oil was further eroded by news that TransCanada Corp has begun filling its 700,000 barrel-per-day oil pipeline, which will transport crude from the Cushing, Oklahoma, storage hub to Gulf Coast refiners.

  • RIO DE JANEIRO, Dec 9- A Brazilian oil union said Monday that it plans to go on strike to protest allegedly unsafe conditions at state-run oil company Petroleo Brasileiro SA's REPAR Refinery, the site of a Nov. 28 fire that shut more than 10 percent of Brazil's fuel output.

  • Deutsche Bank's Paul Sankey explains why his firm ungraded Valero, Phillips 66 and other refiners to a buy.

  • TransCanada begins filling Gulf Coast oil pipeline Monday, 9 Dec 2013 | 11:34 AM ET

    CALGARY, Alberta, Dec 9- Transcanada Corp said on Monday that it has begun filling its new 700,000 barrel per day Gulf Coast pipeline with oil but gave no indication on when it expects the line to begin commercial service.

  • UPDATE 6-Oil slips to $110 as European demand eases Monday, 9 Dec 2013 | 10:12 AM ET

    LONDON, Dec 9- Brent crude fell almost 1.5 percent to around $110 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.

  • Cramer: Organic 'arms dealers' looking good     Monday, 9 Dec 2013 | 9:23 AM ET

    Jim Cramer explains what to watch ahead of the open, including Valero Energy and WhiteWave Foods.

  • UPDATE 5-Oil slips to $111 as European demand eases Monday, 9 Dec 2013 | 8:01 AM ET

    LONDON, Dec 9- Brent crude oil slipped to around $111 a barrel on Monday, undermined by signs of weaker European demand despite upbeat economic data from the United States and China, the world's two biggest oil consumers.

  • SINGAPORE, Dec 9- Brent crude oil futures held near $112 a barrel on Monday, underpinned by upbeat economic data from the United States and China, the world's first and second largest oil consumers. Brent crude oil futures had edged up 12 cents to $111.71 a barrel by 0615 GMT, after rising more than $1 in the previous session.

  • LIMA, Dec 7- Peru's state oil company would be allowed to privatize up to 49 percent of Petroperu through share offerings on the local stock market under a bill soon to be submitted to Congress, a top official said on Saturday.

  • TRIPOLI, Dec 7- Libya has lost more than $7 billion and faces new competition from Algeria and Nigeria in oil markets due to strikes at oilfields and ports drying up exports, Oil Minister Abdelbari al-Arusi said on Saturday. Arusi said Libya had lost 9 billion Libyan dinars in oil revenues after output had fallen to 250,000 barrels a day from 1.4 million bpd in July.

  • TRIPOLI, Dec 7- Libya needs to find new oil buyers after a drop in output to 250,000 barrels per day due to protests has led to an increase in competition from Algeria and Nigeria, Oil Minister Abdelbari al-Arusi said on Saturday.

  • BEIJING, Dec 6- China is expected to post an increase in imports of major commodities in November compared with the preceding month, helped by stock building ahead of winter and after a week-long holiday disrupted shipments in October.

  • Best oil refiner bets: Marathon, Valero & more     Thursday, 5 Dec 2013 | 2:22 PM ET

    Oil refiners like Marathon and Valero are up over the past month. Pavel Molchanov of Raymond James, says there is more room to the upside for some of these stocks.

  • *Ethylene costs $500/ T in United States, $1,200 in Europe. LONDON, Dec 5- Europe's petrochemical industry will face a competitive assault as U.S. rivals emerge with cheap feedstock from the shale gas boom. Those still in operation are struggling with losses or razor-thin margins as U.S. refiners flood Europe with cheap fuel made from low-cost shale oil and gas.

  • *OPEC keeps production target unchanged. *Iraq, Iran and Libya plan to raise output. The Organization of the Petroleum Exporting Countries agreed on Wednesday to keep its production target unchanged at 30 million barrels per day for the first half of 2014, despite Iran and Iraq setting high output targets for the year ahead.

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