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Oil and Gas Oil and Gas Refining

  • *Japan oil demand is in structural decline. *China, India and Japan make up 20 pct of world oil demand. A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the world's top four oil buyers.

  • LONDON, June 22- Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and 2018 have weakened significantly since OPEC agreed to roll over its production allocations at the end of May. Calendar spreads are...

  • MEXICO CITY— Mexico's state-owned oil company Pemex says a refinery that flooded and caught fire last week during rains produced by former Tropical Storm Calvin will reopen July 30. One person died in the big fire at the Salina Cruz refinery in the southern state of Oaxaca. The blaze also injured nine people and forced the evacuation of 500 nearby residents.

  • LONDON, June 22- Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures throughout the rest of 2017 and 2018 have weakened significantly since OPEC agreed to roll over its production allocations at the end of May. Calendar spreads are...

  • *180- cst fuel oil margins to Dubai crude turn positive. "Fuel oil, for years the junkyard dog of the barrel, is now at the forefront of everyone's minds," said Matt Stanley, a fuel broker at Freight Investor Services in Dubai. The spread between the 180- centistoke fuel oil swap and Dubai crude for July was at a premium of 27 cents a barrel on Wednesday, the first time the...

  • June 21- Tropical Storm Cindy churned slowly on Wednesday across the Gulf of Mexico toward an expected landing on the Texas- Louisiana border, after claiming the life of a vacationing child and threatening to bring flash floods from Texas to Florida. Louisiana Governor John Bel Edwards declared a state of emergency and readied emergency vehicles and the...

  • U.S. crude futures settled at $42.53, down 98 cents or 2.3 percent, after touching a low of $42.13, the lowest intraday level since August 2016. "The market wants proof that OPEC cuts are shifting petroleum balances, and it's not getting it. Oil prices rose in late 2016 and early 2017 in response to the OPEC agreement, but weeks of surprisingly high inventory figures...

  • June 21- Tropical Storm Cindy weakened slightly on Wednesday afternoon as it headed toward landfall on the Texas- Louisiana border, but it still threatened to bring flash floods from Texas to Florida, according to the National Hurricane Center. Louisiana Governor John Bel Edwards declared a state of emergency and readied emergency vehicles and the Louisiana...

  • NEW YORK, June 21- Oil prices fell about 3 percent to a 10- month low in heavy trading on Wednesday, as nagging fears about the global crude glut fed a sell-off that was interrupted only briefly after news of a larger-than-expected drop in U.S. inventories. "The market wants proof that OPEC cuts are shifting petroleum balances, and it's not getting it.

  • NEW YORK, June 21- U.S. crude oil and gasoline stockpiles fell last week, while distillate inventories rose, the Energy Information Administration said on Wednesday. By 11:24 a.m., U.S. crude futures were down 10 cents at $43.41 a barrel and Brent crude fell 23 cents to $45.79 a barrel. The price gains in the report's immediate aftermath were hard to sustain because...

  • Frank Pallone of New Jersey, the ranking member of the Energy and Commerce Committee; Bobby Rush of Illinois; Diana DeGette of Colorado; Paul Tonko of New York; and John Sarbanes of Maryland. They called on Pruitt to respond by the end of the month with details about procedures in place at EPA to prevent Icahn from influencing policy for personal gain.

  • *180- cst fuel oil margins to Dubai crude turn positive. However, analysts caution that new supply should begin flowing to the region from Europe and South America, eventually driving margins back towards their typical levels. The spread between the 180- centistoke fuel oil swap and Dubai crude for July was at a premium of 27 cents a barrel on Wednesday, the first...

  • June 20- Communities and oil refining and production facilities from Texas to Florida braced on Tuesday for potential disruptions as Tropical Storm Cindy strengthened over the U.S. On the forecast track, the center of Cindy will approach the coast of southwest Louisiana and southeast Texas late Wednesday, and move inland over southeastern Texas on Thursday,...

  • June 20- Communities and oil refining and production facilities from Texas to Florida braced on Tuesday for potential disruptions as Tropical Storm Cindy meandered over the U.S. It was expected to approach the coast of southwest Louisiana late Wednesday and move inland over western Louisiana and eastern Texas on Thursday. "The winds aren't looking to get...

  • June 20- Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. It is expected to approach the coast of southwest Louisiana late Wednesday or Wednesday night, and move inland over western Louisiana and eastern Texas on Thursday, the NHC said. Cindy is expected to produce 6 to 9 inches of rain with...

  • June 20- Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as a potential tropical storm developing in the U.S. The Louisiana Offshore Oil Port, the largest privately owned crude storage terminal in the United States, suspended vessel offloading operations early on Tuesday morning ahead of the storm, but said it expected no...

  • NEW YORK, June 19- Oil prices were flat on Monday after diving 13 percent since late May as rising production in the United States, Libya and Nigeria have foiled an OPEC- led effort to support the market by cutting production. "Lack of major upside price response to the OPEC output cuts upping the odds of reduced compliance to the agreement in our opinion," Jim...

  • *Libya, Nigeria output recovering, adding to surplus. LONDON, June 19- Oil prices steadied on Monday, pausing for breath after coming under pressure over the past month from rising production in the United States, Libya and Nigeria, which has taken the edge off an OPEC- led initiative to support the market by cutting production. Analysts said a steady rise in U.S....

  • *Libya, Nigeria output recovering, adding to surplus. LONDON, June 19- Oil prices edged higher on Monday, pausing for breath after coming under pressure over the past month from rising production in the United States, Libya and Nigeria, which has taken the edge off an OPEC- led initiative to support the market by cutting production. Analysts said a steady rise in U.S....

  • *Iran gas deal that India wanted likely goes to Russia. NEW DELHI, June 15- India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies. India, Iran's top oil client after China, shipped in 487,600 barrels per day in May, about 9 percent less...