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Oil and Gas Oil and Gas Refining

  • *Assets estimated to be worth $1 billion- sources. *Chevron S. African assets include Cape Town refinery. NEW YORK/ SINGAPORE, March 17- China's Sinopec is nearing a deal to buy Chevron's South African oil assets for up to $1 billion to secure its first major refinery on the continent, several people familiar with the matter said.

  • *Mexico was the largest fuel importer from the U.S. in 2016. *Refining projects in Brazil, Colombia offered a temporary relief. Demands for United States imports are rising in the region's biggest economies, up 199,000 bpd or 29 percent last year in Mexico and 75,000 bpd or 94 percent in Brazil, contributing to the gains.

  • BP was the largest shareholder in New Zealand's only oil refiner before it sold the stock in block trade on Thursday night at NZ $2.32 per share, stock exchange filings show, below Thursday's closing price of NZ $2.49. New Zealand's benchmark S&P/NZX 50 index was up 0.2 percent on the day. "BP regularly undertakes reviews of its assets, partnerships and...

  • CALGARY, Alberta, March 16- Syncrude Canada notified customers on Thursday that its oil sands plant in northern Alberta would cut production by more than 50 percent in March and April after a fire this week, four trading sources said. Syncrude spokesman Will Gibson declined to comment. "In addition, this will enable both Syncrude and agencies, including Alberta...

  • *Mexico was the largest fuel importer from the U.S. in 2016. *Refining projects in Brazil, Colombia offered a temporary relief. Demands for United States imports are rising in the region's biggest economies, up 199,000 bpd or 29 percent last year in Mexico and 75,000 bpd or 94 percent in Brazil, contributing to the gains.

  • CALGARY, Alberta, March 16- The fire at Syncrude Canada's oil sands plant in northern Alberta was extinguished on Thursday morning, the company said in a statement, as parts of the mining and upgrading facility ran at reduced rates. Syncrude said crews were still working to fully isolate the affected area of the Mildred Lake upgrader to allow safe entry to assess...

  • *Niger Delta region mired in poverty, conflict. PORT HARCOURT, Nigeria/ LONDON, March 16- The moment a group of Nigerian contractors met executives from Italian oil major Eni to discuss unpaid wages they started shouting, calling them fraudsters and liars until a police commander restored calm. The heated meeting, called after hundreds of Eni contractors...

  • NEW YORK, March 16- More than 20 U.S. senators pressed President Donald Trump on Thursday to reject requests from oil refiners to overhaul the U.S. biofuels program, weighing in on a debate that has roiled markets from soybeans to gasoline in recent weeks. The change would be "unwarranted and indefensible," said the bipartisan group of senators that included...

  • NEW YORK, March 16- Calumet Specialty Products Partners has retained advisors for a potential sale of its refinery in Superior, Wisconsin, according to two people familiar with the matter. Still, a deal could fetch as much as $500 million, according to one of the sources, who spoke on the condition of anonymity as the talks are private. The refinery's location, which...

  • CALGARY, Alberta, March 16- The fire at Syncrude Canada's oil sands plant in northern Alberta was extinguished on Thursday morning, the company said in a statement, as parts of the mining and upgrading facility ran at reduced rates. Syncrude said crews were still working to fully isolate the affected area of the Mildred Lake upgrader to allow safe entry to assess...

  • *Niger Delta region mired in poverty, conflict. PORT HARCOURT, Nigeria/ LONDON, March 16- The moment a group of Nigerian contractors met executives from Italian oil major ENI to discuss unpaid wages they started shouting, calling them fraudsters and liars until a police commander restored calm. The heated meeting, called after hundreds of ENI contractors...

  • SINGAPORE, March 15- South African petroleum company Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35,000 tonnes of gasoil to Singapore from Durban, shipping fixtures showed. "South Africa is exporting 500 ppm and importing the lower sulfur...

  • *Graphic of China available crude vs. LAUNCESTON, Australia, March 15- China's stockpiling of crude oil appears to have increased in the first two months of the year, despite prevailing higher prices caused by OPEC and its allies curbing output. The refinery throughput for January and February was 90.76 million tonnes, or about 11.23 million bpd, according to data...

  • The MOU is with Saudi Arabia's National Industrial Clusters Development Program. Meanwhile, state-run Saudi Aramco has signed MOUs with five Japanese entities during a business forum that both nations hosted on Tuesday, coinciding with a visit by Saudi Arabia's King Salman this week. In addition, Aramco and state-run Japan Oil, Gas and Metals National Corp...

  • BEIJING, March 14- China's refinery throughput during the first two months of 2017 rose 4.3 percent from same time a year ago to the second-highest level on record on a daily basis, while crude output fell 8 percent from a year earlier, official data showed on Tuesday. Chinese refineries processed 90.76 million tonnes of crude oil during January and February, the...

  • BEIJING, March 14- China's refinery production rose 4.3 percent to the second highest level on record on a daily basis during the first two months of the year, while crude output fell 8 percent from a year earlier, official data showed on Tuesday. The National Bureau of Statistics provided information for the two months together to smooth the impact of the Lunar...

  • BEIJING, March 14- China's January-February refinery production rose 4.3 percent over a year earlier to 90.76 million tonnes, the National Statistical Bureau said on Tuesday. On a daily basis, refinery production hit the second-highest on record at 11.23 million barrels per day. Crude output in the same period dropped 8 percent on year to 31.44 million tonnes,...

  • March 10- Oil refiners shelled out a record over $2 billion to meet U.S. biofuels requirements in 2016, a 70 percent surge that helps fuel a growing debate over who should shoulder the costs for meeting environmental regulations. A Reuters review of regulatory filings from ten refiners, including Valero Energy Corp and CVR Energy Inc, showed that they paid $2.22...

  • March 10- Oil refiners' costs to comply with U.S. government requirements to boost use of biofuels, such as ethanol, swelled 68 percent to $2.22 billion last year due to high prices of compliance credits known as Renewable Identification Number credits. Valero Energy Corp $749.00 $440.00 $309.00 70 pct PBF Energy Inc $347.50 $171.60 $175.90 103 pct Cenovus...

  • *Vitol invests in gas stations from Turkey to Pakistan. LONDON, March 10- From Pakistan to Turkey, the world's largest independent oil trader Vitol is betting on a spike in gasoline and diesel demand in young and growing nations by snapping up filling stations that disappointed oil companies are prepared to sell. This month, Vitol secured more than 23 percent of...