Oil and Gas Oil and Gas Refining

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  • Jan 14- China's state-run oil refiner Sinopec Corp has purchased its first ever batch of U.S. crude oil for export, a source told Reuters on Thursday, a landmark transaction after the ending of a four-decade ban on domestic exports. The cargo, due to be loaded from a Gulf Coast port in March, may mark the start of a sustained flow of U.S. oil to China, the world's...

  • *Iran wants to up exports to India by 200,000 bpd within 6 months. *Iran has over a dozen super-tankers ready for discharge. SINGAPORE/ LONDON/ NEW YORK, Jan 15- With Iran poised to resume usual business ties with the world under a historic nuclear deal, Tehran is set to target India, Asia's fastest-growing major oil market, and old partners in Europe with hundreds of...

  • CHINA STATE OIL REFINER SINOPEC TRADING ARM BUYS FIRST U.S.

  • LAUNCESTON, Australia, Jan 15-- Sort of lost among the attention given to China's record crude oil imports in December was the fact that the nation's exports of refined fuels also hit an all-time high. There is little doubt that China has been taking advantage of the relentless decline in crude prices to fill strategic and commercial stockpiles, a trend likely to...

  • BEIJING, Jan 15- China's state planning agency has granted a 2.2 million tonne per annum crude import quota to the independent Dongying Qirun Chemical refinery in Shandong province, it said on Friday. The National Development and Reform Commission said on its website that the refinery had been granted the quota after it met requirements to eliminate outdated...

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  • PUNTO FIJO, Venezuela, Jan 13- Venezuelan state oil company PDVSA said on Wednesday it had begun restarting operations at its massive 955,000- barrel-per-day Paraguana refinery complex following a blackout. Employees at the 645,000- bpd Amuay refinery and adjacent 310,000- bpd Cardon refinery were evacuated as a precaution and children at schools near...

  • HOUSTON, Jan 13- A U.S. safety agency said on Wednesday that a series of problems at Exxon Mobil Corp's California refinery caused an explosion there nearly a year ago, as questions mounted about when the plant, which supplies 10 percent of the state's gasoline supply, would be fixed. An investigator for the U.S. Chemical Safety and Hazard Investigation Board, Mark...

  • NEW YORK, Jan 13- U.S. gasoline and diesel inventories surged for a second week while crude stocks rose slightly last week, data from the Energy Information Administration showed on Wednesday. U.S. crude futures also turned negative, falling as low as $30.10 a barrel before rebounding slightly to $30.69 by 11:11 a.m. EST. Between distillate and gasoline, we've...

  • PUNTO FIJO, Venezuela, Jan 13- Operations at Venezuela's massive 955,000- barrel-per-day Paraguana refinery complex were paralyzed by an electrical blackout on Wednesday morning, according to two workers and an anti-government union leader. Employees at the 645,000- bpd Amuay refinery and adjacent 310,000- bpd Cardon refinery were evacuated as a...

  • PUNTO FIJO, Venezuela, Jan 13- Operations at Venezuela's massive 955,000- barrel-per-day Paraguana refinery were paralyzed by an electrical blackout on Wednesday morning, according to two workers and an anti-government union leader. It was not immediately clear what caused the problems reported by the workers at the 645,000- bpd Amuay refinery and...

  • BEIJING, Jan 13- China's crude oil imports hit a record 7.82 million barrels a day in December, customs data showed, as the world's No.2 oil consumer took advantage of low crude prices to fill strategic reserves, but also increased its exports of refined fuels to an all-time high. The December import figures may mean China challenges the United States to be the...

  • *Refiners tweak crude oil feedstocks to favor gasoline. LONDON, Jan 12- After years of building up diesel production, European oil refiners are using every trick in the book to maximize gasoline output to meet unabated global demand as the two fuels stage a sharp reversal of fortune. But today the world faces a growing excess of diesel and spectacular demand in...

  • BEIJING, Jan 12- China's natural gas demand may rise 6.5 percent in 2016, up from last year's tepid growth, as a cut in government-set prices and efforts to promote gas usage will lift demand for the fuel, said an official at a Chinese industry association. China's gas demand- hit by a slowing economy and an inflexible pricing mechanism- grew at less than 4 percent in...

  • *Paradip to meet fuel demand in eastern and southern India. PARADIP, India, Jan 10- State-run Indian Oil Corp aims to invest 40 billion rupees in upgrading its newest refinery in the eastern part of the country after the federal government decided to bring forward by four years the introduction of road vehicle fuels which are compliant with Euro VI emission...

  • *Some managers told shares in downstream JVs may be sold. *Upstream sale not being actively considered- sources. KHOBAR, Saudi Arabia/ DUBAI, Jan 10- Saudi Arabia is considering selling shares in refining ventures with foreign oil firms but would not offer a stake in the crude oil exploration and production operations of state oil giant Saudi Aramco, sources...

  • *U.S. added 292,000 nonfarm jobs in Dec.- Labour Department. NEW YORK, Jan 8- Crude prices steadied on Friday, supported by higher stock prices on Wall Street, but oil was still headed for a 10 percent weekly decline as global oversupply and a bleak demand outlook made it hard to guess the market's bottom. "It is extremely difficult to forecast the exact bottom," Hans van...

  • Prices were up in early trading after Beijing deactivated a circuit breaker mechanism that was blamed for aggravating equity market crashes earlier this week. Beijing then suspended equities trading as the sharp falls triggered the circuit-breaking mechanism for a second time since its introduction this week. Brent fell by 16 cents to $33.57 a barrel by...

  • LONDON, Jan 7- The 10.6 million barrel jump in U.S. gasoline stocks last week, reported by the Energy Information Administration on Wednesday, sent gasoline futures tumbling 4 percent and intensified the selloff in oil prices. Estimated gasoline consumption was also down 1.2 million barrels per day, over 13 percent, compared with the prior week, adding to market...

  • CALGARY/ WASHINGTON, Alberta, Jan 6- TransCanada Corp sued the U.S government on Wednesday to reverse President Barack Obama's rejection of the Keystone XL pipeline, and also sought $15 billion in damages from a trade tribunal. Homeland Security Secretary Jeh Johnson and Sally Jewell, Secretary of the Department of Interior. The Keystone XL was designed to link...