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Oil and Gas Oil and Gas Refining

  • *China, U.S. fuel specifications could hit inefficient refiners. "The rally in Singapore margins since the beginning of the year was extended this week, and Singapore margins are up by 24 percent since the beginning of the year on a 4- week rolling average," investment bank Jefferies said in a note on Friday. They include an extended refinery outage in Abu Dhabi and...

  • *China, U.S. fuel specifications could hit inefficient refiners. "The rally in Singapore margins since the beginning of the year was extended this week, and Singapore margins are up by 24 percent since the beginning of the year on a 4- week rolling average," investment bank Jefferies said in a note on Friday. They include an extended refinery outage in Abu Dhabi and...

  • If built, TransCanada's Keystone XL from Alberta to Nebraska would yield about $2.4 billion a year for Canada, split between government revenues, shareholder profits and re-investment into the still-recovering Canadian oil patch, according to a Conference Board of Canada research note prepared for Reuters on Thursday. For the United States, where...

  • SAO PAULO, Jan 26- Brazil's state-run oil company Petroleo Brasileiro SA announced on Thursday it is reducing diesel and gasoline prices at refineries, reflecting the fall in international petroleum products prices and the appreciation of the local currency against the dollar. In a statement, Petrobras, as the company is known, said diesel prices will be...

  • HOUSTON/ PUNTO FIJO, Venezuela, Jan 26- More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay for hull cleaning, inspections, and other port services, according to internal documents and Reuters data. Dirty tankers are the latest of...

  • Jan 25- Inventories of gasoline rose sharply in the United States for the fourth straight week amid weaker-than-usual demand, while crude oil stocks were also higher, the Energy Information Administration said on Wednesday. Crude inventories rose 2.8 million barrels in the week to Jan. 20, in line with expectations. Carl Larry, director of oil and gas at Frost&...

  • North Dakota Senator Heidi Heitkamp

    Disagreements on sourcing and exports could be problematic for Keystone XL's newly expedited approval process, Sen. Heidi Heitkamp says.

  • KUWAIT, Jan 25- Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday. Aramco had been in talks with Petronas about a joint venture in the Refinery and...

  • LAGOS, Jan 25- General Electric Co has proposed investing in Nigeria's oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE's plan and similar promises from companies like Italy's Eni to work with Nigeria to rehabilitate the country's three oil refineries could help the government as it tries to...

  • TOKYO, Jan 25- Japanese oil refiner Idemitsu Kosan Co said it conducted an emergency shutdown of a desulphurisation unit at its 200,000 barrels per day Chiba refinery after a fire near a heat exchanger. The crude distillation unit at the plant, east of Tokyo, is continuing to operate, with no impact on cargoes being sent from the facility's truck terminal or by sea, a...

  • WASHINGTON, Jan 24- A leading Republican lawmaker warned on Tuesday that Congress will not be able to lower the U.S. corporate tax rate to the 15 to 20 percent range sought by President Donald Trump unless a controversial "border adjustment" proposal remains part of tax reform. Escalating the war of words over a measure opposed by retailers, oil refiners and...

  • Will oil prices continue their rise?

    The oil market looks set to rebalance earlier than expected as OPEC members cut production, according to a report from UBS.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia will meet in Vienna this weekend to establish a mechanism to verify compliance with a deal to cut 1.8 million barrels per day of output, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. Members of the Organization of the Petroleum Exporting Countries and some other producing countries including Russia, will meet in Vienna to establish a mechanism to verify compliance with a deal to cut output 1.8 million barrels per day, OPEC's secretary general told Reuters.

  • *Producers to establish compliance mechanism at meeting- OPEC. A weekend meeting in Vienna of members of the Organization of the Petroleum Exporting Countries and some producers outside of the group, including Russia, will establish a compliance mechanism to verify producers are sticking to a deal to reduce output by 1.8 million barrels per day, OPEC's...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Producers to establish compliance mechanism at meeting- OPEC. "Prices were pushed down a bit too far and hopes will rise that the OPEC/ non- OPEC meeting this weekend will show that these producers actually give some proof that they cut production," said Hans van Cleef, senior energy economist at ABN Amro. A weekend meeting in Vienna of members of the Organization of...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...