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Oil and Gas Refining

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  • *Eyeing sale of half of Montney and Duvernay shale acreages in Canada. BEIJING, Oct 25- Sinopec Group wants to sell half of its two biggest shale gas acreages in Canada to spread costs and accelerate their development, as the Chinese energy company focuses increasingly on return of investment, an executive said.

  • *Fire at Lemont, Illinois refinery boosts gasoline. NEW YORK, Oct 24- U.S. oil futures recouped losses in choppy trade on Thursday while European Brent crude slid, as traders bet that an abrupt slump earlier this week in the hotly traded Brent-WTI spread had gone too far.

  • NEW YORK, Oct 24- U.S. oil futures recouped losses in choppy trade on Thursday afternoon while European Brent crude slid, as traders bet that an abrupt slump earlier this week in the hotly traded Brent-WTI spread had gone too far.

  • *Fire at Lemont, Illinois refinery boosts gasoline. NEW YORK, Oct 24- U.S. oil futures fell on Thursday for the fourth straight session, weighed down by rising inventories while gasoline futures got a boost from a refinery fire in Illinois.

  • Oct 24- Canadian oil producers Cenovus Energy Inc and Husky Energy Inc said their refining margins were hurt as the price difference between crude oil and the petroleum products extracted from it narrowed sharply.

  • Excess capacity in the refining industry, especially in Europe, and the shale revolution in North America will continue to pressurise Grangemouth and Britain's other oil refineries. Like their counterparts in continental Europe and the East Coast of the United States, Britain's refineries are old, small and relatively unsophisticated.

  • S. crude spread briefly widens to more than $13. U.S. crude led the complex lower for much of the day, briefly pushing the contract's discount to international benchmark Brent crude out to more than $13 a barrel, the widest since April, before pulling back to $11 ahead of the settlement.

  • Looking at refining long term     Wednesday, 23 Oct 2013 | 12:15 PM ET

    Paul Sankey, Deutsche Bank, says there will be an oversupply of WTI crude by the middle of 2014. Going forward Sankey likes refining stocks.

  • *Willing to cooperate with Kurdistan on shared blocks. MOSUL, Iraq, Oct 23- Iraq's northwest Nineveh province has started talks with oil companies and is drafting terms to attract investment in its significant oil and gas reserves, steps certain to antagonise the central government.

  • LONDON, Oct 23- U.S. crude fell below $97 a barrel to its lowest since July on Wednesday, outpacing a smaller drop in Brent futures, pressured by ample supplies and expectations of a further inventory buildup in the United States, the world's top consumer. U.S. crude fell $1.73 to $96.57 and earlier reached $96.32, its lowest since July 1.

  • FACTBOX-Rosneft's China oil plays Wednesday, 23 Oct 2013 | 8:18 AM ET

    Oct 23- Rosneft, the world's largest oil company by output, is preparing to triple oil exports to China to some 1 million barrels per day, seeking to secure market share and billions of dollars in pre-payments. -Rosneft currently supplies China with 300,000 bpd via a spur of the Eastern Siberia- Pacific Ocean oil pipeline running from Skovorodino to Mohe.

  • UPDATE 3-Oil slips towards $109 as stockpiles rise Wednesday, 23 Oct 2013 | 5:08 AM ET

    LONDON, Oct 23- Brent crude slipped towards $109 a barrel on Wednesday, pressured by rising inventories in China and expectations of a further buildup in the United States, the world's top consumer. Brent crude slipped 71 cents to $109.26 a barrel by 0846 GMT, after hitting a session high of $110.06.

  • *Willing to cooperate with Kurdistan on shared blocks. MOSUL, Iraq, Oct 23- Iraq's northwest Nineveh province has started talks with oil companies and is drafting terms to attract investment in its significant oil and gas reserves, steps certain to antagonise the central government.

  • *Brent/WTI spread widens to $12 in heavy selling. SINGAPORE, Oct 23- Brent crude slipped below $110 a barrel on Wednesday after disappointing U.S. jobs data and a build in crude stockpiles raised concerns about oil demand in the world's largest oil consumer.

  • Brent slips below $110, but supported by weak dollar Wednesday, 23 Oct 2013 | 12:03 AM ET

    *Brent/WTI spread widens to nearly $12 in heavy selling. SINGAPORE, Oct 23- Brent crude edged lower under $110 a barrel on Wednesday, supported by a weak dollar as disappointing U.S. jobs data raised hopes the U.S. Brent crude oil futures slipped 15 cents to $109.82 a barrel by 0352 GMT, after earlier hitting a session-high of $110.06.

  • NEW YORK, Oct 22- U.S. oil prices sank below $98 to their lowest in nearly four months on Tuesday, while European Brent held firm, as fears of a near-term U.S. crude surplus pushed the spread between the two oil contracts to its widest gap since April.

  • NEW YORK, Oct 22- U.S. oil prices sank below $98 to their lowest in nearly four months on Tuesday, while European Brent held firm, as fears of a near-term U.S. crude surplus pushed the spread between the two oil contracts to its biggest three-day rout since early 2012..

  • UPDATE 1-Russia grabs China oil and gas export deals Tuesday, 22 Oct 2013 | 12:04 PM ET

    BEIJING, Oct 22- Russian energy companies signed a slew of deals with China on Tuesday, seeking to lock in sales to fund costly production and pipeline projects that will direct exports away from Europe to Asia.

  • Delta's refinery turns small profit for first time Tuesday, 22 Oct 2013 | 12:00 PM ET

    NEW YORK, Oct 22- Delta Air Lines Inc's Pennsylvania oil refinery turned a small profit in the third quarter, the first time since it purchased the plant in 2012 to help trim jet fuel costs, the company said on Tuesday.

  • *Riyadh to shift away from U.S. over Syria- source. LONDON, Oct 22- Brent crude oil rose above $110 per barrel on Tuesday, pulling its premium above U.S. light crude to the widest in six months, after news of a deterioration in relations between the United States and key OPEC oil producer Saudi Arabia.

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