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Oil and Gas Refining

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  • UPDATE 6-U.S. crude oil rises on strong GDP data Thursday, 30 Jan 2014 | 2:12 PM ET

    *China slowdown caps Brent gains. NEW YORK, Jan 30- U.S. crude oil rose about $1 on Thursday after government data showed solid economic growth in the fourth quarter of last year and as cold weather was expected to boost oil demand. Brent crude traded slightly higher, boosted by concerns over supply interruptions from Libya and expected declines in OPEC production.

  • WASHINGTON, Jan 30- The decision whether to eliminate a 40- year-old ban on most U.S. crude oil exports should hinge on whether it would lead to higher domestic retail gasoline prices, Ron Wyden, chairman of the Senate Energy Committee, said on Thursday.

  • CALGARY, Alberta, Jan 30- Imperial Oil Ltd's Kearl oil sands project in northern Alberta produced less than half its capacity in the fourth quarter, the company said on Thursday, as harsh winter weather and equipment reliability problems hampered output.

  • UPDATE 2-Conoco profit beats estimates, asset sales help Thursday, 30 Jan 2014 | 10:38 AM ET

    Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, said on Thursday its fourth-quarter profit rose more than expected, helped by the sale of its Algerian business and production of more North American crude oil.

  • UPDATE 5-Oil lifted by cold U.S. weather Thursday, 30 Jan 2014 | 10:23 AM ET

    LONDON, Jan 30- Brent oil rose to around $108 per barrel on Thursday and U.S. crude reached its highest in a month on bitter cold in the United States which boosted heating oil demand. Brent crude was up 24 cents to $108.09 a barrel as of 1243 GMT after settling 44 cents higher the previous day.

  • LONDON, Jan 30- Brent oil rose to around $108 per barrel on Thursday as bitter cold in the United States boosted heating oil demand, though prices were capped by weak Chinese economic data and a U.S. Brent crude was up 6 cents to $107.91 a barrel as of 1243 GMT after settling 44 cents higher the previous day.

  • Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, on Thursday said its fourth-quarter profit rose with help from the sale of its Algerian business and lower taxes. Profit in the quarter was $2.5 billion, or $2.00 per share, compared with $1.4 billion, or $1.16 per share, a year earlier.

  • ConocoPhillips quarterly profit higher on asset sales Thursday, 30 Jan 2014 | 7:19 AM ET

    Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, on Thursday said its fourth-quarter profit rose, helped by the sale of its Algerian business and other assets. Profit in the quarter was $2.5 billion, or $2.00 per share, compared with $1.4 billion, or $1.16 per share, a year earlier.

  • *BP is dismantling 20- strong Beijing- based team-sources. BEIJING, Jan 30- BP is dropping plans to invest in a refinery in China, three sources with direct knowledge said, the fourth refining project in recent months to fall foul of a slowdown in growth in the world's second-largest economy.

  • LONDON, Jan 30- Brent oil rose to $108 per barrel on Thursday as bitter cold in the United States boosted heating oil demand, though prices were capped by weak Chinese economic data and the U.S. Brent crude was up 18 cents to $108.03 a barrel as of 0922 GMT, after settling 44 cents higher the previous day.

  • *India imports from Iran drop 38 percent to 195,600 bpd in 2013. *India's cuts deepest among Iran's top customers. India's cuts last year due to the toughened sanctions that were put in place in 2012 were deeper even than the targeted cut of 15 percent to 220,000 bpd in average imports from Iran for the year ending March 31, 2014.

  • SINGAPORE, Jan 30- Brent futures held near $108 a barrel on Thursday as bitter cold across the northern Hemisphere boosted heating oil demand, while the U.S. Brent crude had slipped 6 cents to $107.79 a barrel by 0514 GMT, after settling 44 cents higher. U.S. oil rose 9 cents to $97.45 a barrel, having ended down 5 cents.

  • SINGAPORE, Jan 30- Brent futures rose towards $108 a barrel on Thursday as bitter cold across the northern Hemisphere boosted heating oil demand, but the U.S. Brent crude had gained 5 cents to $107.90 a barrel by 0254 GMT, after settling 44 cents higher. U.S. oil rose 19 cents to $97.55 a barrel, having ended down 5 cents.

  • HOUSTON, Jan 29- Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices and rising exports helped profits.

  • NEW YORK, Jan 29- U.S. crude oil futures ended marginally lower on Wednesday, paring most losses after a sharp rally in heating fuels as frigid temperatures swept across the nation and utilities reached for any available fuel to keep homes and businesses warm. The arctic- like weather plaguing the U.S.

  • HOUSTON, Jan 29- Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices on the Gulf Coast helped profits.

  • Jan 29- Marathon Petroleum Corp, the third-largest stand-alone U.S. refining company, on Wednesday posted a quarterly profit that topped estimates as refining margins were better than expected. For the fourth quarter, Marathon reported net income of $626 million, or $2.07 per share, compared with $755 million, or $2.24 per share, in the year-ago period.

  • Jan 29- Marathon Petroleum Corp, the third-largest stand-alone U.S. refining company, posted a 17 percent drop in quarterly profit on Wednesday due to shrinking crude discounts and rising maintenance costs.

  • U.S. crude had fallen 35 cents to $97.04 a barrel by 0045 GMT, after ending up $1.69 at its highest since Dec. 31. *Spillover attacks from the civil war in Syria have hindered development of Iraq's gas and oil reserves and a major pipeline to the Mediterranean has been blown up dozens of times, Iraq's top energy official said on Tuesday.

  • The Center for American Progress, a Washington think tank founded by John Podesta, who is now a senior adviser to President Barack Obama, issued a policy brief ahead of the Senate energy committee hearing on Thursday.