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Oil and Gas Oil and Gas Refining

  • Oct 28- Growing financial troubles for Venezuela's PDVSA have started to snarl its logistics and operations in the Caribbean, where unpaid bills have frustrated suppliers and business partners. The vessel, which has been unable to discharge 520,000 barrels of fuel oil from Isla refinery, has been anchored in the Caribbean sea for more than a month.

  • HOUSTON, Oct 28- Unpaid debts and broken promises are making Venezuelan oil giant PDVSA an outcast in several Caribbean countries where it had been a guest of honor. Business partners in the island nations of Curacao, Bonaire, Jamaica and the Bahamas are turning away from the firm as debts pile up to tugboat operators, ship brokers, maritime agencies and terminal...

  • SEOUL, Oct 28- SK Innovation Co Ltd, which owns South Korea's largest refiner, SK Energy, expects refining margins to remain firm in the fourth quarter due to low oil product inventories and seasonal demand. A day earlier, South Korea's third-largest refiner, S-Oil Corp, said refining margins would be firm in the fourth quarter, boosted by winter demand for heating...

  • *Exports to Asia to hit 1.46 mln bpd; exports to Europe to fall. TOKYO, Oct 27- Iran's crude oil exports are set to decline 5 percent in November to a four-month low, a source with knowledge of its preliminary tanker schedule said, as low seasonal demand in Europe takes the edge off its post-sanctions export bonanza. Iran's oil exports typically hit a low around October...

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulphur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • *Move seen adding $35- 40 bln of costs in container shipping. LONDON, Oct 27- The United Nations' shipping agency set global regulations on Thursday to limit the amount of sulfur emissions from vessels and said they would come into force from 2020.. A session of the International Maritime Organization's Marine Environment Protection Committee in London set the...

  • ABUJA/ LAGOS, Oct 27- Nigeria launched a $10 billion infrastructure programme on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end the attacks, Oil Minister...

  • ABUJA/ LAGOS, Oct 27- Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end the attacks, Oil Minister...

  • DUBAI, Oct 27- Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia on Oct. 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC agreed in Algeria last month on a modest oil-production cut in the first such pact since 2008, with the...

  • NEW YORK, Oct 26- Oil settled down more than 1 percent on Wednesday even after a surprise drawdown in U.S. crude inventories, as traders remained cautious that OPEC would be able to cut production come late November. "The focus point from here remains on the OPEC meeting that comes a month from now, with Iran, Libya and Nigeria all looking unlikely to commit to output...

  • The profit margins for both gasoline and diesel traded in Singapore, Asia's fuel-trading hub, have staged strong rallies in the past three months. The Singapore gasoline profit margin, or crack, rose to $9.82 a barrel on Wednesday, an almost five-fold increase on the low this year of $1.67, hit on July 8. In Singapore, inventories of light distillates, which include...

  • Net income attributable to Marathon Petroleum fell to $145 million, or 27 cents per share, in the quarter ended Sept. 30 from $948 million, or $1.76 per share, a year earlier. The company reported an impairment charge of $267 million, or 31 cents per share, as the company and its partner Enbridge Inc scrapped the Sandpiper Pipeline project. Revenue and other income...

  • Exports to Asia to hit 1.46 mln bpd; exports to Europe to fall. TOKYO, Oct 27- Iran's crude oil exports are set to decline 5 percent in November to a four-month low, a source with knowledge of its preliminary tanker schedule said, as low seasonal demand in Europe takes the edge off its post-sanctions export bonanza. Iran's oil exports typically hit a low around October...

  • *Violent protests spread in Venezuela. *No. 2 OPEC- producer Iraq says it will not cut output. SINGAPORE, Oct 27- Oil prices rose on Thursday, lifted by concerns over Venezuela's stability as well as by firm demand in Asia, although doubts over OPEC's ability to organize a coordinated production cut still weighed on markets.

  • *Violent protests spread in Venezuela. *No. 2 OPEC- producer Iraq says it will not cut output. SINGAPORE, Oct 27- Oil prices rose on Thursday, lifted by concerns over Venezuela's stability as well as by firm demand in Asia, although doubts over OPEC's ability to organize a coordinated production cut still weighed on markets.

  • *No. 2 OPEC- producer Iraq says it will not cut output. SINGAPORE, Oct 27- Oil prices were stable on Thursday, lingering around $50 a barrel, as doubts over OPEC's ability to organize a coordinated production cut weighed on markets, while firm demand and concerns over Venezuela's stability offered support. Traders said Brent was struggling on doubts that the...

  • The profit margins for both gasoline and diesel traded in Singapore, Asia's fuel-trading hub, have staged strong rallies in the past three months. The Singapore gasoline profit margin, or crack, rose to $9.82 a barrel on Wednesday, an almost five-fold increase on the low this year of $1.67, hit on July 8. In Singapore, inventories of light distillates, which include...

  • SEOUL, Oct 27- South Korea's S-Oil Corp expects strong winter demand to support refining margins in the fourth quarter, the country's third-largest refiner said on Thursday. S-Oil, whose main shareholder is Saudi Aramco, posted a 116.2 billion won profit in the third quarter of 2016, down from 640.9 billion won a quarter earlier, hit by lower inventory and a...

  • *No. 2 OPEC- producer Iraq says it will not cut output. SINGAPORE, Oct 27- Oil prices were stable on Thursday, but remained below $50 a barrel, as doubts over OPEC's ability to organize a coordinated production cut weighed on markets, while firm demand and concerns over Venezuela's stability offered support. Traders said Brent was struggling to break above $50 due to...

  • CALGARY, Alberta, Oct 26- Suncor Energy Inc, Canada's largest oil and gas company, reported a better-than-expected third-quarter profit on Wednesday thanks to strong upstream production, lower operating costs and record crude throughput at its refineries. Suncor's third-quarter operating profit, which excludes one-time items, was C $346 million, or 21...