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Oil and Gas Oil and Gas Refining

  • NEW YORK, Oct 26- Oil fell 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 cuts," said...

  • *After initial rebound, prices remain down on OPEC. NEW YORK, Oct 26- Oil fell 1 percent on Wednesday on growing doubts that OPEC would cut production enough to drain a global glut, although prices bounced off session lows, with Brent returning above $50 a barrel after the U.S. government reported a surprise drawdown in crude inventories. But the rebound was limited...

  • OSLO, Oct 26- Norway's Petroleum Safety Authority said it asked Statoil on Wednesday to investigate whether a number of recent incidents at the oil producer's facilities might be related and linked to cost cuts. Following the latest incident at the near 240,000 barrels per day Mongstad refinery on Tuesday, PSA held an urgent meeting with Statoil on Wednesday.

  • Valero said costs and expenses fell 8 percent, or about $2 billion, to $18.75 billion in the third quarter ended Sept. 30. Refining throughput margin fell to $9.07 per barrel in the latest quarter, from $14.38 per barrel a year earlier. However, the company backed its full-year cost estimate for blending biofuels at $750 million to $850 million.

  • Net income attributable to shareholders fell to $613 million, or $1.33 per share, in the third quarter ended Sept. 30 from $1.38 billion, or $2.79 per share, a year earlier. Valero on Tuesday also marginally lowered its 2016 capital expenditure forecast by $200 million, to around $2.4 billion. Operating revenue fell about 13 percent to $19.64 billion.

  • CAPE TOWN, Oct 25- Total, Glencore and Gunvor are bidding for a 75 percent stake in Chevron's South African downstream assets, which include a refinery, three industry sources told Reuters on Tuesday. The second bidding round in which actual offers were made closed on Sept. 30, the sources said, with a selling price estimated at $1 billion expected for the assets in...

  • *Iraq says it should be exempt from OPEC output curbs. NEW YORK, Oct 24- Oil prices dipped on Monday, with U.S. crude briefly falling below $50 per barrel, on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts. Iraq's oil minister Jabar Ali al-Luaibi said the second-largest producer in the...

  • *Iraq says it should be exempt from OPEC output curbs. NEW YORK, Oct 24- Oil prices dipped on Monday, with U.S. crude briefly falling below $50 per barrel, on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts. Iraq's oil minister Jabar Ali al-Luaibi said the second-largest producer in the...

  • Oct 24- A leak late on Sunday prompted Enterprise Products Partners to shut its Seaway Crude Pipeline system, the largest conduit for moving oil from the major storage hub in Cushing, Oklahoma to Gulf coast refineries. News of the leak dragged U.S. crude prices lower on Monday on worries that shutting down the 850,000 barrel-per-day Seaway system would bottle up...

  • Oct 24- A leak late on Sunday prompted Enterprise Products Partners to shut its Seaway Crude Pipeline system, the largest conduit for moving oil from the major storage hub in Cushing, Oklahoma to Gulf coast refineries. News of the leak dragged U.S. crude prices lower on Monday on worries that shutting down the 850,000 barrel-per-day Seaway system would bottle up...

  • PARIS, Oct 24- French oil and gas company Total said on Monday that a gas leak at its 247,000 barrels-per-day Gonfreville refinery in Normandy had caused an explosion that injured five workers. The blast in northern France occurred during a scheduled maintenance work on a gas compressor, Total said, adding that emergency services were on site to contain the gas...

  • A general view shows the Shell petroleum refinery (back) on Pulau Bukom, off Singapore on March 8, 2013.

    Singapore has joined the influential International Energy Agency as an association country, upping the city-state's focus on energy security.

  • Hillary Clinton.

    Hacked emails show Hillary Clinton's campaign wrestled with how to announce her opposition to construction of the controversial Keystone XL pipeline.

  • SINGAPORE, Oct 21- From sharp cuts to Chinese oil production to falling inventories of refined fuel products, signs are mounting that Asia's oil markets are slowly returning to balance. The drawdowns come after China, Asia's biggest oil consumer and a top-5 global producer, this week reported a 9.8 percent fall in output for September, amounting to one of the...

  • *PKN lifts Warsaw stocks on Q3 earnings surge. BUDAPEST, Oct 20- A rise in oil refiner PKN Orlen's shares lifted Warsaw's stock index on Thursday, while other regional markets were mixed as the European Central Bank did not signal any change in its asset purchase programme. PKN shares rose by 2 percent and helped Warsaw's bluechip index firm half a percent by 1419...

  • WASHINGTON, Oct 20- A deal by a state-owned Russian oil company Rosneft and others to buy India's Essar Oil for $12.9 billion does not run afoul of U.S. sanctions on Russia, the State Department said. "I don't think we see any violation of any U.S.-EU sanctions stemming from this deal," Mark Toner, a spokesman for the State Department told reporters in a daily briefing...

  • LONDON, Oct 20- Oil prices fell on Thursday on profit-taking, after markets rallied the previous day on another unseasonal draw in U.S. crude oil stocks helping bullish sentiment from an expectation of an OPEC- led cut in production. West Texas Intermediate crude oil futures were at $50.78 per barrel at 1230 GMT, down 82 cents from their previous close.

  • LONDON, Oct 20- Oil prices fell on Thursday on profit-taking, after markets rallied the previous day on another unseasonal draw in U.S. crude oil stocks helping bullish sentiment from an expectation of an OPEC- led cut in production. West Texas Intermediate crude oil futures were at $51.03 per barrel at 1100 GMT, down 57 cents from their last close.

  • BUDAPEST, Oct 20- A rise in oil refiner PKN Orlen's shares lifted Warsaw's stock index on Thursday, while other regional markets were mixed as investors waited to see if the European Central Bank will signal any change in its asset purchase programme. PKN shares rose by 1.7 percent and helped Warsaw's bluechip index firm 0.2 percent by 0846 GMT, after the refiner...

  • LONDON, Oct 20- Oil prices fell on Thursday on profit-taking after markets rallied the previous day due to a draw in U.S. stocks and an expectation of an OPEC- led cut in production. West Texas Intermediate crude oil futures were trading at $51.10 per barrel at 0840 GMT, down 50 cents from their last close. International Brent crude futures were trading at $52.20 per...