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Oil and Gas Oil and Gas Refining

  • *Kurdish forces seize Kirkuk oil facility. BAGHDAD, March 2- Crude flows from Iraq's northern Kirkuk fields resumed on Thursday after being halted for several hours when Kurdish forces stormed a facility in protest at the Iraqi government's oil policy, several sources with knowledge of the matter said. But a Kurdish official later said the facility had been...

  • *Russia cuts Feb oil output but compliance is low- sources. NEW YORK, March 1- Oil prices ended slightly lower on Wednesday as record high U.S. crude supplies tempered expectations that the market will rebalance as evidence emerges that OPEC producers are complying with an agreement to cut production. May Brent crude futures dropped 15 cents, or.

  • Russia cuts Feb oil output but compliance is low- sources. NEW YORK, March 1- Oil prices were largely steady on Wednesday, paring gains and briefly turning negative, after crude inventories in the United States rose to a record high. Rising U.S. production has tempered expectations that the market will rebalance as evidence emerges that OPEC producers are...

  • March 1- U.S. crude oil stocks rose last week even as refineries boosted output, while inventories of gasoline and distillates fell, the U.S. Energy Information Administration said on Wednesday. Overall crude stocks in the United States hit another record, rising to 520.2 million barrels. Gasoline demand doesn't decline, but this is cold comfort for the gasoline...

  • Feb 28- The White House on Tuesday denied that President Donald Trump planned to issue an executive order to change the national biofuels program, after the U.S. Renewable Fuels Association said Trump's team had informed the group an order was pending. White House spokeswoman Kelly Love, however, said on Tuesday afternoon "there is no ethanol executive order in...

  • Feb 28- Warren Buffett's Berkshire Hathaway Inc will urge shareholders to reject a proposal by a Nebraska nonprofit that it sell its investments in oil refiner Phillips 66 and other companies involved in fossil fuels over 12 years, the nonprofit said on Tuesday. The Nebraska Peace Foundation, which focuses on anti-war, civil rights and environmental issues,...

  • It also drew sharp criticism from some ethanol groups who said Trumps regulation adviser, billionaire investor and refinery owner Carl Icahn, had engaged in self-dealing by pushing for the deal. The head of the Renewable Fuels Association said the White House had informed him that Trump intends to sign an executive order shifting the obligation of blending...

  • *Kurdistan needs funds for battle with ISIS, refugee crisis. LONDON, Feb 28- Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3 billion in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position as the semi-autonomous region fights Islamic State. Now traders will loan money to...

  • LONDON, Feb 28- Iraq has trimmed exports of Kirkuk crude oil to better meet its supply reduction obligations with OPEC and deliver fuel for local needs amid its campaign against Islamic State, a senior official from Iraq's semi-autonomous region of Kurdistan said. Kurdistan and Iraq agreed last year to jointly export crude from the giant Kirkuk oilfield after...

  • *Kurdistan needs funds for battle with ISIS, refugee crisis. LONDON, Feb 28- Iraq's Kurdistan has agreed new deals to borrow $3 billion from trading houses and Russian state oil firm Rosneft that will be guaranteed by future oil sales to strengthen its fiscal position as the semi-autonomous region fights Islamic State. Kurdistan says it needs to export oil...

  • SINGAPORE/ KHOBAR, Saudi Arabia, Feb 28- Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing on Tuesday to pump $7 billion into a refinery-petrochemical complex in Malaysia, analysts said. The competition in Asia among producers, including Russia and other Middle Eastern suppliers such as Iraq, Kuwait...

  • SEOUL/ SINGAPORE, Feb 28- South Korean refiner Hyundai Oilbank has purchased a cargo of U.S. Southern Green Canyon crude oil, the country's first import of the grade, three trade sources said on Tuesday. The purchase comes as crude shipments to Asia from places such as the United States have jumped due to low shipping costs and as production cuts by the Organization...

  • Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery in Malaysia's southern state of Johor.

  • KUALA LUMPUR, Feb 27- Malaysia's Prime Minister Najib Razak announced on Monday that Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery and petrochemical project in Malaysia's southern state of Johor. Najib said the decision was made before noon on Monday after discussions between top executives from Saudi Aramco and...

  • KUALA LUMPUR, Feb 27- Malaysia's Prime Minister Najib Razak announced on Monday that Saudi Arabia's state oil company Saudi Aramco will invest $7 billion into an oil refinery and petrochemical project in Malaysia's southern state of Johor. Najib said the decision was made before noon on Monday after discussions between top executives from Saudi Aramco and...

  • HOUSTON, Feb 24- Refiners and pipeline shippers in the Salt Lake City area are facing new delays obtaining crude oil after a pipeline outage last week was followed by snow on Friday that made it difficult to deliver much-needed oil by truck. The 16- inch Wahsatch pipeline can carry roughly 100,000 barrels per day of crude from locations near Evanston, Wyoming, to...

  • *UAE taking steps to ensure full compliance- OPEC governor. LONDON, Feb 24- OPEC has so far surprised the market by showing record compliance with oil-output curbs and could do so further in coming months as the biggest laggards- the United Arab Emirates and Iraq- pledge to catch up quickly with their targets. Iraq and the UAE have delivered smaller portions of their...

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • West Texas Intermediate fell 13 cents, or 0.2 percent, to $54.32 a barrel by 0048 GMT, having closed up 86 cents in the previous session. On Thursday, sources told Reuters that the joint OPEC/ non- OPEC technical committee reported an 86 percent compliance on the oil cuts in January. Earlier, sources reported over 90 percent compliance within OPEC.

  • NEW YORK, Feb 23- U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. With those two together, the U.S. is becoming an export juggernaut, "said John Kilduff, partner at New York energy hedge...