Oil and Gas Refining
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TOKYO, May 8- U.S. crude futures extended declines toward $95 a barrel on Wednesday, as the market awaited the release of Chinese trade data later in the day, which is expected to show crude oil imports in April hovered around March levels. was down 21 cents at $95.41 a barrel by 2346 GMT, after settling down 54 cents at $95.62 on Tuesday.
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CALGARY, Alberta, May 7- Canadian oil prices edged higher on Tuesday on talk BP Plc plans to begin the start-up of an upgraded crude distillation unit at its 405,000 barrel-per-day Whiting, Indiana, refinery at the end of May.
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*Liwan Gas Project 85 percent complete. CALGARY, Alberta, May 7- Husky Energy Inc, Canada's No. 3 integrated oil company, said on Tuesday its $6.5 billion Liwan Gas Project in the South China Sea was on track to start production in late 2013 to early 2014..
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SINGAPORE, May 7- The Asian naphtha price rose on Tuesday for the third straight session to a four-session high of $862.00 a tonne but its intermonth spread stayed at $10.50 a tonne after falling to a three-week low on Monday due to heavy supplies.
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SINGAPORE, May 7- Asian gasoil timespreads flipped into a backwardated structure on Tuesday, although ample supply is still seen in the region, industry sources said.
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BEIJING, May 7- China's Huabei Petrochemical Company, a subsidiary of oil major PetroChina, is expected to double its refining capacity by the end of 2014, two years behind its original plan, industry officials said on Tuesday.
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Fitch Ratings has assigned a rating program Global Medium-Term Note/ Global Medium-Term Bonds of USD 5 Pertamina billion which will be published in the' BBB-'.
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HANOI, May 7- Vietnam's upcoming Vung Ro oil refinery plans to double its capacity to 8 million tonnes a year by raising its total investment in the project 88 percent to $3.2 billion, an official said on Tuesday. The facility, 650 kilometres north of Ho Chi Minh City, has investment from Britain's Technostar Management Ltd and Russia's Telloil Group.
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*Forties bid at dated Brent plus 20 cents. LONDON, May 7- North Sea Forties crude price differentials firmed on Tuesday after the emergence of slightly tighter loading programmes for June compared with May.
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LONDON, May 7- Gasoil barge prices in northwest Europe rose on Tuesday following earlier gains in crude prices though demand for diesel remained weak. dropped below $3 a barrel in May, weakened by the recent spike in Brent crude prices and low demand.
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TOKYO, May 7- The benchmark Nikkei average. Idemitsu Kosan Co Ltd fell 1.9 percent to a two-week low of 7,890 yen, after the oil refiner said its operating profit fell 20 percent on the year to 110.7 billion yen in the fiscal year ended March 31, due to reduced refining margin.
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TOKYO, May 7- U.S. crude futures eased on Tuesday to below $96 a barrel on profit-taking, after gaining more than $5 in the previous three sessions as Mideast tensions raised supply concerns.
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Light synthetic crude from the oil sands last traded at a discount of $0.80 per barrel under WTI, down from a settlement price on Friday of $3.00 per barrel over the benchmark. Suncor Energy Inc's 140,000 barrel per day refinery in Edmonton, Alberta, was in full shutdown.
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NEW YORK, May 6- The CME Group intends to launch at least two new U.S. crude oil futures contracts before the end of this year, as the rapid growth in U.S. oil production and infrastructure boosts liquidity in Gulf Coast spot markets.
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CHICAGO, May 06 Fitch Ratings has affirmed the Issuer Default Ratings for CITGO Petroleum Corporation at' BB-' and the company's senior secured ratings at' BB+' and revised the Outlook to Positive from Stable.
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BRUSSELS, May 6- The following are mergers under review by the European Commission and a brief guide to the EU merger process:. --RAG trust and buyout firm CVC Capital Partners to sell part of their shares in German chemicals company Evonik Industries.
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SINGAPORE, May 6- More spot supply emerged from Taiwan and India, adding to already abundant supply from South Korea and Japan and pushing margins down to a three-day low on Monday. Taiwan's CPC Corp has sold 300,000 barrels of jet fuel for June loading to an unidentified buyer between a slight discount and parity to Singapore quotes, industry sources said.
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May 6- Three months ending March 31, 2013. NOTE: Petron Corp, the Philippines' biggest oil refiner and retailer, is owned by the country's most diversified conglomerate San Miguel Corp. It has 550 service stations in Malaysia.
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SINGAPORE, May 05 Fitch Ratings has assigned Indonesia- based PT Pertamina's USD5bn global medium-term note programme a' BBB-' rating. Equalised with sovereign: Pertamina's ratings are aligned with those of its parent, The Republic of Indonesia, due to strong legal, operating and strategic linkages, as per Fitch's Parent and Subsidiary Linkage methodology.
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HOUSTON/ NEW YORK, May 5- The U.S. oil and gas renaissance that has bestowed unexpected prosperity on states from North Dakota to Pennsylvania and boosted distillate production to a record high in the Midwest is also causing pockets of fuel scarcity: just ask Arkansas.