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Oil and Gas Refining

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  • Brent climbs above $110 on escalating violence in Iraq Thursday, 12 Jun 2014 | 12:36 AM ET

    *Brent touches 2- week high at $110.40 on Iraq supply worries. *Iraq violence could push Brent to $111.50- analyst. There has been a muted response in the oil markets so far to the situation in Iraq after an al Qaeda splinter group moved in on Iraq's largest refinery at Baiji, said Ric Spooner, chief market analyst at Sydney's CMC Markets.

  • NYMEX-US crude holds above $104 after fall in stockpiles Wednesday, 11 Jun 2014 | 7:34 PM ET

    Militants from an al Qaeda splinter group who seized Iraq's second biggest city of Mosul this week have advanced into the oil refinery town of Baiji.

  • *Iraq city of Mosul falls to militants. NEW YORK, June 11- Brent oil futures rose toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while U.S. crude struggled to make gains near key levels of resistance.

  • TRIPOLI, June 11- Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year even though lawmakers have not voted on it.

  • UPDATE 9-Oil up near $110 on Iraq supply disruption fears Wednesday, 11 Jun 2014 | 1:00 PM ET

    *Iraq city of Mosul falls to militants. NEW YORK, June 11- Oil futures rose toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while a fall in U.S. gasoline stockpiles pointed to stronger seasonal demand.

  • LONDON, June 11- Russian oil firm Rosneft bought a cargo of Kurdish oil for a German refinery it co-owns with oil major BP, quietly circumventing Baghdad's ban on independent oil sales by its autonomous region, according to trading sources.

  • TRIPOLI, June 11- Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year, even though lawmakers have not voted on it.

  • Supply tremors shake OPEC equilibrium Wednesday, 11 Jun 2014 | 10:38 AM ET

    *Iraq fears join Libya and Iran supply uncertainty. VIENNA, June 11- OPEC sailed through a brief, calm meeting on Wednesday- even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran.

  • *Iraq's Mosul falls to militants, U.S. says situation' extremely serious'. LONDON, June 11- Oil futures rose above $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while a fall in U.S. stockpiles of gasoline pointed to seasonally stronger demand.

  • *Iraq's Mosul falls to militants, U.S. says situation' extremely serious'. LONDON, June 11- Oil futures rose to $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while a fall in U.S. stockpiles of gasoline pointed to seasonally stronger demand.

  • *Apart from China, others to keep imports steady at first four months level. BEIJING/ TOKYO, June 11- China is set to take more Iranian crude than it did before tough sanctions were put in place in early 2012, as Asia's biggest refiner Sinopec Corp buys more oil from the Middle East nation, sources with direct knowledge of China's buying strategy said.

  • SINGAPORE, June 11- U.S. crude futures were little changed in early Asian trade on Wednesday as industry data showing a surprise fall in the U.S. gasoline stockpile pointed to a healthy summer driving season demand, overshadowing a gain in crude inventories.

  • US approves BP drone surveys of Alaskan oilfields Tuesday, 10 Jun 2014 | 11:04 AM ET

    BP will use unmanned aircraft systems to conduct aerial surveys of Alaska's North Slope.

  • LAUNCESTON, Australia, June 10- Even though China's net exports of refined fuels were small in May, the impact on Asian product markets is becoming larger and likely to be sustained in coming months. China exported a net 410,000 tonnes of refined products in May, equivalent to about 96,548 barrels per day, according to customs data released June 8.

  • *China's commodity imports fall in May on high stocks, tighter credit. NEW YORK, June 9- Brent crude rose on Monday, gaining over $1 to surpass $110 a barrel for the first time in June, while U.S. crude rose by nearly $2, as strong Chinese and U.S. data pointed to healthy economic growth and higher demand for oil from the world's top two consumers.

  • Libya arrives for OPEC with exports at a trickle Monday, 9 Jun 2014 | 3:42 PM ET

    LONDON, June 9- Libya's attendance at Wednesday's OPEC meeting will be an oddity for historians of the oil exporters club- a member with virtually no oil for sale.

  • ANKARA/ LONDON, June 9- A second shipment of Iraqi Kurdish crude has sailed from the Turkish port of Ceyhan, industry and government sources said, increasing the stakes in a battle with Baghdad over control of oil sales from the autonomous region. Baghdad was in the process informing the United Nations about Ankara's role in the shipment, he added.

  • *China's commodity imports fall in May on high stocks, tighter credit. Brent was up 50 cents at $109.11 by 0825 GMT, after settling down 18 cents and declining 0.7 percent last week. U.S. oil rose 50 cents to $103.16, extending gains after ending 18 cents up on Friday.

  • *China's May exports gain steam but imports fall unexpectedly. *China's commodities imports fall in May on high stocks, tighter credit. Yet further gains in oil were capped, as China's crude imports in May fell 9.4 percent from the month before.

  • *China's May exports gain steam but imports fall unexpectedly. *China's commodities imports fall in May on high stocks, tighter credit. Yet further gains in oil were capped, as China's crude imports in May fell 9.4 percent from a month ago.