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Oil and Gas Oil and Gas Refining

  • Shares of Marathon jumped 6 percent to $53.17 on the announcement, which included accelerating its drop down of assets into its master limited partnership, MPLX LP, and that it may receive new common units in the partnership. In addition, the Findlay, Ohio- based refiner will form a special board committee to consider a spin-off or other alternatives for Speedway,...

  • Dec 29- U.S. crude oil stocks unexpectedly rose last week, while gasoline and distillate product inventories dropped, the U.S. Energy Information Administration said on Thursday. U.S. crude oil futures were up 1 cent to $54.08 a barrel at 11:38 a.m. EST, leaving the benchmark just shy of the year high of $54.51 reached on Dec. 12. "What seems to be giving this report...

  • *OPEC, non- OPEC output cut committee to meet in Vienna on Jan. 21-22. Singapore, Dec 29- Oil prices fell in early trade in Asia on Thursday following a surprise build in U.S. crude stocks shown in data published by the American Petroleum Institute late on Wednesday. U.S. benchmark West Texas intermediate crude futures were down 31 cents or 0.57 percent to $53.75 at 0104...

  • Singapore, Dec 29- U.S. oil prices fell on Thursday following a surprise build in the country's crude stocks shown in data published by the American Petroleum Institute late on Wednesday. U.S. benchmark West Texas intermediate crude futures were down 39 cents or 0.72 percent to $53.67 at 0033 GMT after settling up 16 cents at $54.06 per barrel in the previous...

  • Dec 28- Western Refining's plant in St. Paul Park, Minnesota could be headed for a strike at the beginning of the year, according to a union statement on Wednesday. The 90,000- barrel-per-day refinery produces gasoline, diesel, jet fuel and asphalt which is sold around the U.S. The Local 120 Teamsters union authorized a strike in a vote earlier in the month, it said in...

  • RABAT, Dec 28- The court-appointed manager of Morocco's only oil refiner, Samir, has received a $3 billion offer for the business from a foreign conglomerate, he said on Wednesday, without naming the bidder. "We were planning to launch expressions of interest this week, but we have received an offer of 31 billion dirham from a foreign conglomerate," Mohamed El-Krimi,...

  • MOSCOW, Dec 26- Russia's output of oil products is expected to fall by about 2.5 percent in 2017 due to further work on a massive refinery modernisation programme aimed at boosting fuel quality, a deputy energy minister said. In 2011, the government and oil producers agreed on the $50 billion initiative to update Russia's refineries, most of which were built in...

  • WASHINGTON, Dec 22- Billionaire investor Carl Icahn targeted environmental and banking regulations on Thursday as big drags on U.S. corporate investment and said revamping them would be a top priority in his role as adviser to President-elect Donald Trump. Icahn refused to speculate on candidates he would recommend to lead the U.S. Securities and Exchanges...

  • WASHINGTON, Dec 22- Billionaire investor Carl Icahn targeted environmental and banking regulations on Thursday as big drags on U.S. corporate investment and said revamping them would be a top priority in his role as adviser to President-elect Donald Trump. Icahn refused to speculate on candidates he would recommend to lead the U.S. Securities and Exchanges...

  • NEW YORK/ HOUSTON, Dec 22- U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day at times in 2017 as Mexico becomes increasingly dependent on the United States for...

  • NEW YORK, Dec 21- Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in U.S. crude inventories last week. "The big news of the day is that it looks like we're going to get more crude out of Libya," said James Williams, president of energy consultant WTRG Economics in Arkansas.

  • NEW YORK, Dec 21- Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in U.S. crude inventories last week. Brent futures for February delivery were down 95 cents, or 1.7 percent, at $54.40 a barrel by 1:40 p.m. EST. "The big news of the day is that it looks like we're going to get more...

  • *SocGen expects 2017 oil prices in range of $50- 60 per barrel. NEW YORK, Dec 21- Oil futures edged lower on Wednesday following a report showing a surprise build in U.S. crude inventories last week. U.S. crude stocks rose by 2.3 million barrels in the week to Dec. 16 as refineries hiked output, while gasoline stocks and distillate inventories fell, the U.S. Energy...

  • Libya's National Oil Corporation confirmed on Tuesday that pipelines leading from Sharara and El Feel fields had reopened, saying it hoped to add 270,000 barrels per day to national production over the next three months. "We started running the wells and then gradually we will start pumping to the Zawiya refinery," the official, who works at the field, told...

  • LONDON, Dec 21- OPEC and non- OPEC oil producers have agreed to reduce their combined output by more than 1.7 million barrels per day for six months from January 2017. But the agreement contains a provision that it can be extended for a further six months, subject to market conditions. Oil traders are betting on an extension, with most of the rebalancing of the oil...

  • TRIPOLI, Dec 21- Operations at Libya's southwestern Sharara oilfield were gradually resuming on Wednesday after the lifting of a two-year blockade on a pipeline leading from the field, a senior official said on Wednesday. Libya's National Oil Corporation confirmed on Tuesday that pipelines leading from Sharara and El Feel fields had reopened, saying it...

  • *Russia may extend output cut if needed- Novak. *Brent to trade at $53- 57 in coming weeks- analyst. LONDON, Dec 20- Brent oil prices rose by $1 on Tuesday to a one-week high on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink.

  • *Russia may extend output cut if needed- Novak. *Brent to trade at $53- 57 in coming weeks- analyst. A deal to cut global supply among OPEC and non- OPEC producers struck this month has boosted oil prices to 17- month highs.

  • SINGAPORE, Dec 20- Oil prices were steady on Tuesday in timid trading ahead of the year-end holidays, with investors beginning to unwind positions without expecting to take up new ones until the start of 2017.. International Brent crude oil futures were trading at $54.88 per barrel at 0821 GMT, down 4 cents from their last close. "I think we can safely say that...

  • SINGAPORE, Dec 20- Oil prices were steady on Tuesday in timid trading ahead of the year-end holidays, with investors beginning to unwind positions without expecting to take up new ones until the start of 2017.. International Brent crude oil futures were trading at $54.98 per barrel at 0759 GMT, down up 6 cents from their last close. "I think we can safely say that...