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Oil and Gas Refining

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  • SINGAPORE/ SEOUL, June 12- South Korea's GS Caltex Corp is set to receive its first shipment of West African crude in almost a year as the country looks to diversify supply away from the Middle East. GS Caltex, South Korea's second-biggest refiner, is due to receive 920,000 barrels of crude from West Africa that is being shipped on the Very Large Crude Carrier New...

  • SINGAPORE, June 12- South Korea's GS Caltex Corp is set to receive a shipment of 2 million barrels of West African crude, dwarfing the country's usual purchases from the region as it looks to diversify supply away from the Middle East. South Korea's second-biggest refiner is due to receive a total of 2 million barrels of crude from Angola and the Republic of Congo...

  • *Saudi Arabia says ready to increase crude supply. LONDON, June 12- Oil prices slipped on Friday after the world's top crude exporter Saudi Arabia said it was ready to raise output to new record highs, potentially adding to a global supply glut. The U.S. currency strengthened against the euro, also weighing on dollar-denominated oil, after the International...

  • SINGAPORE, June 12- South Korea's GS Caltex Corp is set to receive a shipment of 2 million barrels of West African crude, dwarfing the country's usual purchases from the region as it looks to diversify supply away from the Middle East. South Korea's second-biggest refiner is due to receive a total of 2 million barrels of crude from Angola and the Republic of Congo...

  • HOUSTON, June 11- Motiva Enterprises said on Thursday it aims to trade its own gasoline, diesel and the components needed to make them in a new organization separate from its co-owner, Royal Dutch Shell. "With this change, we hope to provide greater value to them through more active participation in the market," Motiva Chief Executive Dan Romasko said in the...

  • *U.S. crude settles above $60 a barrel, Brent near $65. NEW YORK, June 9- Prices for crude oil, gasoline and diesel jumped more than 3 percent on Tuesday, as bullish investors ramped up bets across the oil complex for another weekly drop in U.S. stockpiles. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group...

  • *Brent nears $65 a barrel, U.S. crude edges toward $60. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group American Petroleum Institute is expected to show later on Tuesday before official numbers on Wednesday from the government's Energy Information Administration. Brent futures were up $1.88, or 3...

  • *Brent near $65 a barrel, U.S. crude near $60. U.S. crude inventories likely fell for a sixth straight week in the week ended June 5, data from industry group American Petroleum Institute is expected to show later on Tuesday before official numbers on Wednesday from the government's Energy Information Administration. Brent futures were up $2, or 3.2 percent, at...

  • UPDATE 1-Oil prices rise on hopes for China stimulus Monday, 8 Jun 2015 | 10:39 PM ET

    *Eyes on supply side, including Iraq and Iran- analyst. SEOUL, June 9- Oil prices edged up on Tuesday on hopes of more economic stimulus in China after disappointing data from the world's No.2 economy. Front month U.S. crude climbed 26 cents to $58.40 a barrel by 0235 GMT, after ending the previous session down 99 cents.

  • Oil prices rise on hopes for China stimulus Monday, 8 Jun 2015 | 10:08 PM ET

    SEOUL, June 9- Oil prices edged up on Tuesday on hopes economic stimulus could ramp up in China after disappointing data from the world's No.2 economy. Front month U.S. crude had climbed 31 cents to $58.45 a barrel by 0145 GMT, after ending the previous session down 99 cents. "Focus has now turned to Iran and Iraq, where both countries are expecting to raise exports in...

  • *Front month U.S. crude had climbed 20 cents to $58.34 a barrel by 0023 GMT after ending the previous session down 99 cents. *United Nations negotiators on Monday presented Libya's warring factions with a draft proposal to form a unity government and end fighting between two rival governments and their respective armed forces. *The U.S. lacks a "complete strategy"...

  • *OPEC oil production likely to continue to exceed demand. "A 4-6 percent drop is acceptable for refinery maintenance season in China, but 20 percent or more is a sign of demand collapse," said Bob Yawger, director of energy futures at Mizuho Securities USA. Phil Flynn, an analyst at Chicago- based Price Futures Group, said a continuous slump in Chinese demand could be a "...

  • A French doctor, venture capitalist and founder of biotech company Abivax, Pouletty is working with Cuba's Center for Genetic Engineering and Biotechnology to develop a therapeutic vaccine to treat chronic Hepatitis B that could be on the Asian market in two years and in Europe after that. Instead, Abivax agreed to buy vaccines at a predetermined price and pay...

  • BEIJING, June 8- China's oil imports fell about 11 percent in May from a year ago in the steepest drop since November 2013, likely knocking the country off its perch as the world's top crude buyer- a spot it claimed for the first time in April. Lower imports by China, at a time when markets are expected to be oversupplied following OPEC's decision to keep its output...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • WASHINGTON, June 3- Lifting the ban on U.S. oil exports would do little to help Eastern European countries decrease their reliance on Russian energy, a policy research arm of Congress said in a memo to U.S. lawmakers seen by Reuters on Wednesday. However, oil refineries in countries such as Poland and Hungary are configured to run mostly on Russian medium sour oil...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Crude oil futures, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Oil prices, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA report...

  • NEW YORK, June 3- U.S. crude oil stockpiles fell for the fifth week in a row even as refinery operating rates eased, data from the Energy Information Administration showed on Wednesday. July crude was down 90 cents at $60.36 a barrel at 11:07 a.m. EDT, having swung from $59.69 to $61.43. Brent July crude was down $1.32 at $64.17, having traded from $63.74 to $65.40.