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Oil and Gas Refining

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  • SINGAPORE, Nov 19- U.S. crude fell towards $74 a barrel in early Asian trade on Wednesday, headed for a third straight drop, after data showed top OPEC producer Saudi Arabia increased crude exports in September despite signs of an oversupplied market. *OPEC heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day while...

  • BEIJING, Nov 17- China's Sinopec Group has pledged to spend $4.6 billion over three years to address safety concerns related to its oil pipelines, after authorities asked for two of the firm's pipelines to be temporarily shut down following inspections. The State Administration of Work Safety ordered the company, parent of Asia's top refiner- Sinopec Corp, to...

  • India's Oct Iran oil imports rise 60 pct y/y -trade Monday, 17 Nov 2014 | 2:09 AM ET

    NEW DELHI, Nov 17- India bought 60 percent more Iranian oil in October than a year ago as refiners held to higher volumes despite signs that world powers and Iran might not reach a final agreement on Tehran's disputed nuclear programme before a Nov. 24 deadline. Six world powers- Britain, China, France, Germany, Russia and the United States- are negotiating with Iran to...

  • SINGAPORE, Nov 17- U.S. crude held steady below $75 a barrel on Monday as investors digested news that Japan, the world's No.4 crude importer, was slipping into recession and comments from the West's energy watchdog that a return to high oil prices was unlikely soon. The latest data puts Japan in a technical recession, following a contraction in the second quarter.

  • With energy boom, Philly becomes the new Houston Sunday, 16 Nov 2014 | 9:00 AM ET
    The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

    Philadelphia is developing a new reputation as a nexus of oil and gas transportation, which bodes well for its economy.

  • U.S. House set to pass Keystone, but Senate a vote shy Friday, 14 Nov 2014 | 11:47 AM ET

    House of Representatives prepared to approve the Keystone XL pipeline on Friday, but a similar bill struggled to get enough support in the Senate and President Barack Obama indicated he might use his veto if the bill does get through Congress. "We are going to make it as easy as possible for the Senate to finally get a bill to the president's desk that approves this...

  • Canadian crude imports likely to keep falling -NEB Thursday, 13 Nov 2014 | 4:44 PM ET

    Canada has the world's third-largest crude reserves behind Saudi Arabia and Venezuela, most of which are located in the oil sands in northern Alberta. The closure of Shell Canada's Montreal East refinery in Quebec, and Imperial Oil Ltd's refinery in Dartmouth, Nova Scotia, has also reduced demand for imported crude. NEB data showed that the U.S. shale boom has...

  • *Brent hits Sept 2010 low below $78, US crude below $75. The decline compounded Wednesday's losses stemming from comments by Saudi Arabia's oil minister that showed little will by the kingdom to cut output when the Organization of the Petroleum Exporting Countries meets on Nov. 27. Brent settled down $2.46, or 3.1 percent, at $77.92 a barrel, after plumbing a...

  • July 2008- TransCanada announces plans to expand its existing 590,000 bpd Keystone oil pipeline system to the Gulf Coast. September 2008- TransCanada Corp files an application with the U.S. State Department for a presidential permit allowing construction of the project. November 2011- The U.S. State Department says it needs to assess alternative routes for...

  • The U.S. government's Energy Information Administration said stocks at the Cushing, Oklahoma, delivery hub for U.S. crude rose 1.7 million barrels for the week ended Nov. 7, while gasoline stocks surged 1.8 million barrels. Even with decent numbers like these, the market can't rally, "said Kyle Cooper, managing director at IAF Advisors in Houston.

  • *OPEC says demand for its crude will drop next year. LONDON, Nov 13- Brent crude fell to a four-year low below $79 a barrel on Thursday after Chinese data showed further economic slowdown, Saudi Arabia kept silent about a possible cut in production and crude stocks built up at a key U.S. delivery point. Brent crude for December was down by $1.40 at $78.98 a barrel by 1615...

  • WASHINGTON, Nov 12- The U.S. State Department must halt plans to expand an oil sands pipeline route from Canada to Wisconsin until possible environmental harm has been closely studied, several green groups said in a lawsuit filed on Wednesday. An Enbridge Inc proposal for its Line 3 pipeline from Alberta to Wisconsin is part of a $7.5 billion upgrade on its system...

  • Bill to approve Keystone XL clears hurdle in U.S. Senate Wednesday, 12 Nov 2014 | 6:01 PM ET

    WASHINGTON, Nov 12- Legislation to approve the Keystone XL pipeline cleared a procedural hurdle in the U.S. Senate on Wednesday, setting up a vote on the project next week. Democratic Senator Mary Landrieu, who faces a runoff vote in Louisiana on Dec. 6, had pushed for vote on Thursday on the bill. Representative Bill Cassidy, pushed for a vote on a similar bill his...

  • WASHINGTON, Nov 12- The U.S. State Department must halt plans to expand an oil sands pipeline route from Canada to Wisconsin until possible environmental harm has been closely studied, several green groups said in a lawsuit filed on Wednesday. An Enbridge Inc proposal for its Line 3 pipeline from Alberta to Wisconsin is part of a $7.5 billion upgrade on its system...

  • Nov 11- Imperial Oil Ltd said on Tuesday it was responding to a small fire in a storage yard adjacent to its refinery at its Sarnia, Ontario, manufacturing site. "There is no immediate danger from the fire, the concern is foam on the road," according to a notice from the Sarnia- Lambton community alerting system. Imperial has a 121,000 barrel-per-day refinery in Sarnia.

  • NEW YORK, Nov 11- Benchmark Brent crude closed down on Tuesday after setting a four-year low and coming close to testing the psychologically important $80 a barrel support, as traders continued to seek a bottom to a selloff that began in June. U.S. crude ended up, despite expectations that oil inventories in the United States rose last week. Brent closed down 67...

  • NEW YORK, Nov 11- Benchmark Brent crude closed down on Tuesday after setting a four-year low and coming close to testing the psychologically important $80 a barrel support, as traders continued to seek a bottom to a selloff that began in June. U.S. crude ended up, despite expectations that oil inventories in the United States rose last week. Brent closed down 67...

  • SINGAPORE, Nov 11- Brent crude traded around $82 a barrel on Tuesday, just above a four-year low hit last week, with a firm dollar and robust production from U.S. shale oil fields offsetting a drop in output in Libya. The price has fallen nearly 30 percent since late June and all eyes are on OPEC for any sign the oil cartel will cut prices at a meeting on Nov. 27.

  • *State-run oil company is seeking 8 cargoes of gasoline, ULSD. PARAGUANA, Venezuela/ HOUSTON, Nov 10- Venezuela is rushing to import up to 2.4 million barrels of diesel and gasoline after power outages hit its main refining complex, an unusual buying spree that has boosted U.S. and European fuel prices and threatens to worsen the OPEC member's financial woes.

  • Nov 10- U.S. crude futures rose towards $79 a barrel on Monday on renewed geopolitical tensions in Libya and Ukraine, while Chinese economic data suggested the world's second largest economy could implement more stimulus measures. *Libya's El Feel oilfield closed to due a power outage, a National Oil Corporation official said on Sunday, the third oil facility to...