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Oil and Gas Oil and Gas Refining

  • 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...

  • 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 $54.89 per barrel at 0731 GMT, down 3 cents from their last close. "I think we can safely say that...

  • DUBAI, Dec 19- Saudi Arabia's crude oil exports fell in October by 176,000 barrels per day from the month before, despite high production, but its refined products shipments rose as the kingdom expands its refining power, official data showed on Monday. Saudi Arabia's domestic crude inventories fell to 276.586 million barrels in October, from 278.688 million in...

  • LONDON, Dec 19- Even if the diesel engine's scandal-driven fall from grace pushes it out of the world's passenger cars, an increasing need for it on ships, in trucks and heavy industry could save the refineries that invested heavily in producing the fuel. "I'm not concerned for refineries," said Steve Sawyer, head of refining with consultants FGE.

  • TOKYO, Dec 19- Japan's Fair Trade Commission said on Monday it had approved plans by Idemitsu Kosan Co to take a stake of just under a third in rival refiner Showa Shell Sekiyu KK. Idemitsu has long planned to combined forces with Showa Shell but the deal remains troubled as the Idemitsu founding family has threatened to veto it once it is put up for shareholder...

  • NEW YORK, Dec 16- U.S. refiners such as Valero Energy Corp and Marathon Petroleum Corp are bracing for stricter, smog-busting gasoline regulations set to hit in January, threatening more headwinds for an industry that has just endured its least profitable year since the shale boom started five years ago. Many refiners are grappling with record costs to meet U.S....

  • *U.S. oil more competitive after Brent's OPEC boost. LONDON, Dec 16- Nigeria, one of two OPEC countries completely shielded from any cuts to its oil production, was in line for a windfall from the group's agreement late last month to shore up the price of crude. Nigeria, which has been battling militant attacks in its oil-producing Delta region, got a reprieve from cuts...

  • LONDON, Dec 13- BP's refining operations are exposed to high safety risks that can lead to deadly accidents and pollution as a result of slack data management and a lack of investment, according to a leaked internal report from 2015.. "Inadequate management and use of engineering information has been a root cause or contributing factor" in 15 percent of 500...

  • *Abu Dhabi, Kuwait and Qatar cut say to cut supplies. LONDON/ NEW YORK, Dec 13- Oil prices rose on Tuesday, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organized by OPEC and other exporters. West Texas Intermediate gained 20 cents to $55.03 a barrel, while International Brent crude was up 14 cents to $55.82.

  • LONDON, Dec 13- BP's refining operations are exposed to high safety risks that can lead to deadly accidents and pollution as a result of slack management and a lack of investment, according to a leaked internal report from 2015.. "Inadequate management and use of engineering information has been a root cause or contributing factor" in 15 percent of 500 high-risk...

  • "If OPEC and its non- OPEC partners stick to their pledges, global inventories could start to draw in the first half of 2017," the IEA said, adding that this was not its own forecast, but was based on the agreement. The IEA said it had more than halved its forecast for non- OPEC supply growth for next year to 220,000 bpd, marking a cut of 255,000 bpd, following the agreement of...

  • "If OPEC and its non- OPEC partners stick to their pledges, global inventories could start to draw in the first half of 2017," the IEA said, adding that this was not its own forecast, but was based on the agreement. The IEA said it had more than halved its forecast for non- OPEC supply growth for next year to 220,000 bpd, marking a cut of 255,000 bpd, following the agreement of...

  • *Abu Dhabi cuts supply as part of OPEC, non- OPEC output reduction. SINGAPORE, Dec 13- Oil prices were stable on Tuesday, supported by strong demand in Asia and a supply cut by Abu Dhabi as part of production curbs organized by OPEC and other exporters. "The market is putting a lot of importance on the commentaries coming out of OPEC and non- OPEC the market is giving OPEC...

  • BEIJING/ HOUSTON, Dec 13- China's Guangdong Zhenrong Energy Co will submit a plan by April to revamp a century-old oil refinery in Curacao, as it seeks to secure a $5.5 billion project that will give China a foothold in the Caribbean's second-largest oil refinery. If the deal goes ahead, the Chinese firm would replace Venezuela's cash-strapped state oil firm...

  • *Abu Dhabi cuts supply as part of OPEC, non- OPEC output reduction. But traders said prices were prevented from falling further by soaring demand in Asia and a supply cut by Abu Dhabi as part of production curbs organized by OPEC and other exporters. "The market is putting a lot of importance on the commentaries coming out of OPEC and non- OPEC the market is giving OPEC...

  • *Abu Dhabi cuts supply is part of OPEC, non- OPEC output reduction. SINGAPORE, Dec 13- Oil prices were stable on Tuesday, buoyed by soaring demand in Asia and as signs of a crude production cut organized by OPEC and other exporters materialized, tightening a market that has been grappling with years of oversupply. "The market is putting a lot of importance on the...

  • BEIJING, Dec 13- China's refinery throughput hit a daily record in November as plant maintenance wound down and independents ramped up productions, while crude oil production fell as producers held to output cuts at inefficient wells. Data from the National Bureau of Statistics showed on Tuesday that refinery throughput rose 3.4 percent year-on-year to...

  • BEIJING, Dec 13- China's refinery throughput hit a daily record in November thanks to growing production from the country's independent refineries, while crude oil production fell as oil producers maintained cuts at inefficient wells. Crude throughput rose 3.4 percent year-on-year to 45.77 million tonnes, or 11.14 million barrels per day, an all-time high...

  • DUBAI, Dec 12- Kuwait National Petroleum Co has selected 10 international banks to provide a loan facility of more than $4 billion to back its Clean Fuels project, banking sources said. The loan, which has guarantees from various countries' export credit agencies, is expected to include the participation of BBVA, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Credit...