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  • Asian oil capex down 15% this year: JPMorgan Tuesday, 26 Jan 2016 | 12:15 AM ET
    Asian oil capex down 15% this year: JPMorgan

    Scott Darling, regional head of oil & gas research at JPMorgan, says this could be the second year of a three-year cost deflation cycle for upstream oil companies.

  • MUMBAI, Jan 25- Three Indian state-run oil refiners will jointly build a 60 million tonnes a year, or 1.2 million barrels per day, refinery on the country's west coast, the federal oil minister said on Monday, adding the investment for the first phase of the refinery could exceed 1 trillion rupees. Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and Hindustan...

  • For these US states, cheap oil is not a good thing Friday, 22 Jan 2016 | 2:41 PM ET

    Some states dependent on energy revenues are facing strained budgets due to low oil prices, according to an S&P report.

  • *Mercuria, Vitol ship crude to China for independent refiner. BEIJING/ SINGAPORE, Jan 22- A Chinese industry body said it could review rules covering the import of crude by new entrants after a private refinery failed to secure financing for 1.5 million barrels of crude it bought, in a blow to Beijing's moves to open up its oil market. The oil arrived at China's east...

  • Iraq, OPEC's second-largest producer, expects output from the country's southern region to increase by up to 400,000 barrels per day this year, to over 4 million bpd, he said, speaking in Baghdad. Lifting oil prices now would require the Organization of the Petroleum Exporting Countries and non- OPEC nations to agree on curbing output, he said.

  • NEW YORK, Jan 20- U.S. refineries along the East Coast and the Midwest are facing their first major test of the winter season since last year's blistering cold set off a string of outages, sending gasoline and diesel prices soaring. Northeast and Midwest ahead of a potentially historic storm that threatens to dump as much as 24 inches of snow in parts of the I-95...

  • *China power generation drops 0.2 pct in 2015. BEIJING, Jan 19- China's output of electric power and steel fell for the first time in decades in 2015, while coal production dropped for a second year in row, illustrating how a slowing economy and shift to consumer-led growth is hurting industrial consumers. "China's economic growth has decoupled from coal-fired...

  • *Potentially first U.S. cargo to head to Asia after ban lifted. TOKYO/ SINGAPORE, Jan 19- Japan's Cosmo Oil Co has purchased a U.S. crude oil cargo, the first by a buyer in the region since the ending of a four-decade ban on most U.S. crude exports and potentially the first in Asia, two sources familiar with the matter said on Tuesday. While exports of U.S. crude have already...

  • BEIJING, Jan 19- China's implied oil consumption grew 2.5 percent in 2015 on strong growth in gasoline and kerosene use, defying a slowing economy and falling demand for many other commodities. China's strong demand, especially for crude and gasoline, has been a rare pillar of support for oil prices, which have tumbled over 70 percent since mid-2014 to their...

  • BEIJING, Jan 19- China's implied oil demand fell 1.3 percent in December from a year earlier to 10.46 million barrels per day, according to Reuters' calculations based on preliminary government data. Preliminary oil demand for full-year 2015 was 10.32 million barrels per day, up 2.5 percent from a year ago. Preliminary implied oil demand is the sum of domestic...

  • *Iran orders oil production increase of 500,000 bpd. DUBAI, Jan 18- Iran ordered a sharp increase in oil output on Monday to take immediate advantage of the lifting of international sanctions, and some foreign firms raced to snap up deals as Tehran emerges from years of international isolation. Those measures were scrapped as part of a landmark deal between Iran...

  • MADRID/ BRUSSELS, Jan 18- Iran and Spain are discussing the construction of an Iranian-owned oil refinery at the Gibraltar strait, the Spanish foreign minister said on Monday, a day after sanctions against the economically isolated Islamic republic were lifted. The United States and European Union on Saturday revoked crippling sanctions against Iran, which...

  • *Iran wants to up exports to India by 200,000 bpd within 6 months. *Iran has over a dozen super-tankers ready for discharge. Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports.

  • Iran exports to reach 1.10 mln bpd in Jan, up 21 pct. *Iran keen to increase exports by 500,000 bpd. Iran is on track to ship 1.10 million barrels a day of crude excluding condensate this month, according to an industry source with knowledge of the OPEC member's tanker loading schedule.

  • 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...

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

  • 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...

  • Playing oil refiners Thursday, 14 Jan 2016 | 10:35 AM ET
    Playing oil refiners

    Sam Margolin, Cowen & Co. thinks there is opportunity in the oil refiners.