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Oil and Gas Refining

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  • LONDON, Sept 24- Oil fell below $96 a barrel on Wednesday to its lowest level in over two years as rising supply from Africa and Iraq offset mounting tensions in the Middle East and stronger-than-expected growth expectations in China.

  • UPDATE 5-Oil slips towards $96 as Libyan output returns Wednesday, 24 Sep 2014 | 9:17 AM ET

    *Libya output up to 900,000 bpd-NOC. LONDON, Sept 24- Oil fell towards $96 a barrel on Wednesday as rising supply from Africa and Iraq offset mounting tensions in the Middle East and better-than-expected data in China.

  • LONDON, Sept 24- Oil fell towards $96 a barrel as rising supply from Africa and Iraq offset rising tension in the Middle East and better than expected data in China. Weak European economic data and a rise in oil exports from Iraq, Libya and Nigeria have hammered the oil price, which is down nearly 14 percent this quarter.

  • *Crude stocks, excluding strategic reserves, up 2.1 pct on month. BEIJING, Sept 24- China's commercial crude oil inventories at the end of August gained for a second month, as refiners focused on drawing down refined fuel stocks which fell a steep 6.2 percent over the month, the official Xinhua news agency said on Wednesday.

  • *Libya and Iraqi oil output, exports rise. For Brent, higher output from Libya and Iraq overshadowed the start of U.S.-led air strikes against Islamist groups in Syria and stronger Chinese economic data. Brent for November delivery fell 17 cents at $96.80 a barrel by 12:04 EDT after climbing as high as $97.59 a barrel in early trading.

  • *U.S. and Arab allies start Syria strikes. LONDON, Sept 23- Brent crude oil fell towards a two-year low near $96 a barrel on Tuesday, reversing early gains as higher output from Libya and Iraq overshadowed the start of U.S.-led air strikes against Islamist groups in Syria and stronger Chinese economic data.

  • *Weak economic outlook in China, Europe weighs on prices. *Analysts expect OPEC to cut output to support prices. HOUSTON, Sept 22- Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries.

  • Sept 22- Philadelphia Energy Solutions, a joint venture part owned by Carlyle Group LP, disclosed plans on Monday to sell shares in an oil rail unloading system it built at the 335,000 barrel-per-day Philadelphia refinery it took over two years ago.

  • *Weak economic outlook in China, Europe weighs on prices. HOUSTON, Sept 22- Crude oil futures fell more than $1 on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries.

  • HOUSTON, Sept 22- The fast-changing nature of crude oil flows in the Americas means only one of three Citgo refineries in the United States will generate keen interest among buyers as Venezuela's cash-strapped state-run PDVSA looks to sell its U.S. unit, and it may fetch less money than hoped, experts say.

  • *Weak economic outlooks in Europe, China weigh. *Investors look past possible OPEC output cut. Comments from OPEC's secretary general last week that the group could cut output next year buoyed Brent, but investors' attention turned back to the gloomy economic outlook in Europe and China, which has curbed oil demand.

  • *Investors look past possible OPEC output cut. Comments from OPEC's secretary general last week that the group could cut output next year buoyed Brent on Friday, but investors' attention turned back to the gloomy economic outlook in Europe and China which has curbed oil demand.

  • Sept 19- Exxon Mobil Corp. has put its Torrance, California, refinery on the block, according to two people familiar with the matter, making it the latest big oil company to consider exiting the state amid tougher environmental standards.

  • HOUSTON, Sept 19- To capitalize on a flood of domestic and Canadian crude into the U.S. Gulf Coast, logistics giant Kinder Morgan Energy Partners is spending more than $1.5 billion in Houston to build the most flexible oil and fuel transport hub in the country.

  • *U.S. crude traded down 1 cent at $93.06 a barrel as of 0027 GMT after it settled $1.35 lower at $93.07 in the previous session, hit by a higher-than-expected crude oil inventory build. *Brent also eased 1 cent to $97.69 a barrel after it settled $1.27 lower at $97.70 a barrel.

  • How Islamic State uses Syria's oil to fuel its advances Thursday, 18 Sep 2014 | 12:09 PM ET

    AMMAN, Sept 18- In an oil field in northeastern Syria, a queue of trucks lines up daily to load crude sold cheaply by Islamic State militants who have hijacked parts of the country's energy industry in their bid to build a caliphate.

  • *Winter demand should support oil prices- OPEC delegates. SINGAPORE, Sept 18- Brent crude dropped towards $98 per barrel on Thursday as the dollar firmed amid fears of a faster hike in U.S. interest rates, while a rise in U.S. crude stocks also hurt prices.

  • *India Oil Corp buys Iran oil after 2- mth gap. World powers and Iran are working to resolve a decade-old dispute over the OPEC nation's nuclear programme, with an interim deal that eases some sanctions on the country extended by four months to late November.

  • Sept 18- The mothballed Hovensa refinery, once the largest in the Western hemisphere, could be the latest "zombie refinery" to come back to life, revived by the U.S. shale boom.

  • *Winter demand should support oil prices- OPEC delegates. SINGAPORE, Sept 18- Brent crude dropped towards $98 per barrel on Thursday, pressured by a stronger dollar on fears about a looming U.S. interest rate increase and a steep spike in U.S. crude stocks.