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Oil and Gas Oil and Gas Refining

  • *Iran gas deal that India wanted likely goes to Russia. NEW DELHI, June 15- India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies. India, Iran's top oil client after China, shipped in 487,600 barrels per day in May, about 9 percent less...

  • MEXICO CITY, June 15- Mexican state-owned oil company Pemex on Thursday said it expects to begin startup operations at its Salina Cruz refinery later in the day once it extinguishes a large fire that completely shut down the plant. The blaze, which killed a firefighter and injured nine workers, broke out on Wednesday at the Pacific coast refinery in the southern...

  • *American seen staying as head of BP at least until 2020. *BP on course for fastest growth in a generation. LONDON, June 15- When BP boss Bob Dudley clinched a final deal to settle litigation over the deadly Deepwater Horizon disaster, many oil industry executives and investors thought his mission was accomplished.

  • *Iran gas deal that India wanted likely goes to Russia. NEW DELHI, June 15- India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies. India, Iran's top oil client after China, shipped in 487,600 barrels per day in May, about 9 percent less...

  • NEW DELHI, June 15- India imported 4.2 percent less oil in May than in the previous month, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research& Forecasts showed. Iraq remained top supplier to India, followed by Saudi Arabia and Iran. India has said it will reduce its oil imports from Iran due to a dispute with Tehran over the...

  • June 14- U.S. crude oil inventories fell last week, but an unexpected build in gasoline stocks and weak demand for the motor fuel offset market optimism over the crude drawdown, the Energy Information Administration said on Wednesday. Gasoline demand over the past four weeks in the United States, the world's top consumer of the motor fuel, was 9.53 million bpd, off...

  • MEXICO CITY, June 14- A major fire broke out at Mexican state oil producer Pemex's Salina Cruz refinery on Wednesday after a crude spill, injuring nine people and extending the shutdown of the plant into a second day, the company said. Images sent by local emergency workers showed a tall, thick plume of black smoke spewing from towering flames at the refinery on the...

  • MEXICO CITY, June 14- A major fire broke out at Mexican state oil producer Pemex's Salina Cruz refinery on Wednesday after a crude spill, though there were no initial reports of injuries. Images sent by local emergency workers showed a tall, thick plume of black smoke spewing from towering flames at the coastal refinery in the southern state of Oaxaca.

  • NEW DELHI, June 14- Oil giant Saudi Aramco wants to enter into exclusive talks with India to buy a stake in the planned 1.2 million barrels per day refinery on the South Asian nation's west coast, India's oil minister said on Wednesday. With the 1.2 million bpd refinery, the world's largest, India wants to have a greater say in the global fuel trade, Oil Minister...

  • June 14- U.S. crude oil inventories fell last week, but an unexpected build in gasoline stocks and weak demand for the motor fuel offset market optimism over the crude drawdown, the Energy Information Administration said on Wednesday. Gasoline demand over the past four weeks in the United States, the world's top consumer of the motor fuel, was 9.53 million bpd, off...

  • The Paris- based IEA said production outside the Organization of the Petroleum Exporting Countries would grow twice as quickly in 2018 as it will do this year, when OPEC and 11 partner nations have restrained output. "For total non- OPEC production, we expect production to grow by 700,000 bpd this year, but our first outlook for 2018 makes sobering reading for those...

  • The Paris- based IEA said production outside the Organization of the Petroleum Exporting Countries would grow twice as quickly in 2018 as it will do this year, when OPEC and 11 partner nations have restrained output. "For total non- OPEC production, we expect production to grow by 700,000 bpd this year, but our first outlook for 2018 makes sobering reading for those...

  • BEIJING, June 14- China's crude oil production fell to its lowest on record in May, even as refineries in the world's top buyer of crude churned out product at their fastest pace in nearly two years, data showed on Wednesday. The drop in China's crude oil output has slowed as major oil producers raised spending to boost production as oil prices have stabilized in a...

  • HOUSTON, June 13- Venezuelan state-run oil company PDVSA is moving millions of barrels of oil from a Bahamas storage facility after terminating a contract with the owner, U.S. Buckeye Partners LP, according to internal data and sources close to the decision. But PDVSA decided to shift its oil to the Statia terminal, operated by U.S. NuStar Energy LP, in the...

  • NEW YORK, June 12- BP PLC violated its supply contract when it sold oil to refiner Monroe Energy that was a blend of lower-valued Texas crude with premium varieties, Monroe alleged in a federal court filing last week. Monroe Energy, a subsidiary of Delta Air Lines that owns a 185,000 barrel-per-day refinery outside of Philadelphia, said the blending of lower...

  • ABUJA, June 8- Nigeria plans to raise $1.2 billion to upgrade its oil refineries, aiming to end a reliance on oil product imports by 2019, the oil minister said on Thursday. Although Nigeria is an exporter of oil, it is mainly dependent on imports for refined products. "We are still far from signing any contract with anybody," said Minister of State for Petroleum...

  • Brent crude was up 6 cents to $48.12 a barrel by 12:36 p.m. EDT, having touched an earlier low of $47.56, while U.S. crude futures were up 13 cents at $45.86 a barrel. The market has also come under pressure from news of rising output from Libya, which together with Nigeria is exempt from the production cut made by the Organization of the Petroleum Exporting...

  • Brent crude was flat at $48.06 a barrel by 1450 GMT, having touched an earlier low of $47.56, while U.S. crude futures were up 15 cents at $45.87 a barrel. The market has also come under pressure from news of rising output from Libya, which together with Nigeria is exempt from the production cut made by the Organization of the Petroleum Exporting Countries and its 11...

  • *Limits on Mediterranean demand pushes CPC to Asia. MOSCOW, June 8- One of the world's fastest growing crude streams, Kazakhstan's CPC, is battling to find new buyers in a market saturated with light grades and with core European customers reluctant to buy more of the pungent oil blend even as its value has plunged. But it is proving a particular challenge for...

  • Brent crude was down 26 cents at $47.80 a barrel by 1137 GMT, having touched an earlier high of $48.60, while U.S. crude futures fell 25 cents to $45.47 a barrel. The market has also come under pressure from news of rising output from Libya, which together with Nigeria is exempt from the production cut made by the Organization of the Petroleum Exporting Countries and...