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Oil and Gas Oil and Gas Refining

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  • *Lower yuan puts downward pressure on commodities- Goldman Sachs. LONDON, Aug 14- U.S. crude oil fell to its lowest in almost six-and-a-half years on Friday as huge stockpiles and refinery shutdowns added to concerns about global oversupply and slowing economies in Asia. U.S. crude was down 30 cents at $41.93 a barrel by 0945 GMT.

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and departures at this gateway to northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting to...

  • *Latest selloff triggered by big weekly build in Cushing. NEW YORK, Aug 13- U.S. oil prices tumbled more than 3 percent to a 6-1/ 2- year low under $42 a barrel on Thursday as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. The largest of those refineries- BP PLC's 413,500- barrel per day facility in Whiting, Indiana, also the...

  • NEW YORK, Aug 13- Retail gasoline prices in Midwest states have jumped as much as 33 cents in a week and could top $3 a gallon as soon as next week as the impact of an unexpected shutdown of a key unit at the region's biggest refinery shows up at the pump, motorist advocacy group AAA said on Thursday. While national prices for regular gasoline have been flat this week and...

  • *U.S. crude hit low just cents above March 2009 low of $42.03. NEW YORK, Aug 13- U.S. oil futures fell more than 2 percent on Thursday to trade near their lowest price in six and a half years, as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. Oil has fallen by nearly a third since late June, a decline that continued this week after...

  • The front-month in crude futures on the New York Mercantile Exchange was down $1.10, or 2.5 percent, at $42.20 a barrel by 10:55 a.m. EDT. The session low was $42.07, just above the year's bottom of $42.03 hit in March. Traders said repairs at BP Plc's refinery Whiting, Indiana that could last at least a month, idling some 240,000 barrels per day of crude distillation.

  • *U.S. refinery problems raise Cushing oil stock concerns. *China's economy expected to weaken further. Benchmark North Sea Brent crude oil fell by 25 cents to $49.41 a barrel by 1315 GMT after hitting a session high of $50.39.

  • *Iraq to export near record volumes of Basra crude. *China's economy expected to weaken further. *U.S. refinery issue raises Cushing oil stock concerns.

  • SHANGHAI/ SYDNEY, Aug 13- Two massive explosions at the Chinese port of Tianjin that ripped through parts of the terminal have hit iron ore import operations, as well as disrupting oil tanker arrivals and depatures at this gateway to for northeast China. Reuters shipping data showed there were more than two dozen tankers in the Tianjin port region, either waiting...

  • Aug 12- A faulty compressor may be to blame for a shutdown at the 88,000- barrel-per= day gasoline-making fluid catalytic cracking unit at Philadelphia Energy Solutions' 335,000- bpd plant in Philadelphia, a source familiar with plant operations said on Wednesday. The 200,000 bpd capacity crude unit at the Girard Point section of the refinery is currently...

  • NEW YORK, Aug 12- Oil ended up on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown deflated prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • UPDATE 9-Oil steady on U.S. stockpile decline, dollar drop Wednesday, 12 Aug 2015 | 12:35 PM ET

    NEW YORK, Aug 12- Oil prices steadied on Wednesday as a weaker dollar and lower U.S. crude stockpiles provided a modest bounce off six-year lows hit the previous session, when worries about China's plummeting currency and economic slowdown sank prices. "The market needed a big drawdown to reverse the current trends and didn't get it," said Chris Jarvis, analyst at...

  • *China oil outlook hit by yuan move, non- OPEC output upped. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite low prices. A BP refinery outage in Whiting, Indiana,...

  • *OPEC raises 2015 non-member production forecast. NEW YORK, Aug 11- U.S. crude settled at a more than six-year low on Tuesday after China's currency devaluation raised questions about oil demand from the No.2 consumer, and a new OPEC estimate showed non-member producers were likely to keep output high despite low prices. "It's time to sell any and all rallies," said...

  • HOUSTON, Aug 11- Heavy damage to the largest crude distillation unit at BP Plc's 413,500- barrel-per-day Whiting, Indiana, refinery will require at least a month to repair, sources familiar with the refinery's plans said on Tuesday. BP spokesman Scott Dean declined to discuss operations at the oil major's largest refinery in the United States.

  • Pro: EOG the Apple of oil Tuesday, 11 Aug 2015 | 12:48 PM ET
    Pro: EOG the Apple of oil

    What's fueling oil's collapse? Paul Sankey, Wolfe Research analyst, has the play on the commodity space.

  • China strengthens hold over oil market as price maker Tuesday, 11 Aug 2015 | 6:46 AM ET

    *China's crude import costs more than halved to $10 billion/ month. SINGAPORE, Aug 11- China's growing ability to buy and sell millions of barrels of crude oil on the Asian physical market in a matter of minutes through its main trading firms has given China so much clout that other traders are often forced to follow its agreed prices. Early this month, Chinaoil, the...

  • In Monday's session, gasoline futures jumped almost 4 percent, heading for its largest daily gain in a month, after BP Plc's 240,000 barrel per day crude distillation unit at its Whiting, Indiana, refinery, was shut by a malfunction on Saturday, sources familiar with operations at the plant said. Brent crude was up $1.47, or 3 percent, at $50.08 a barrel by 12:53 p.m....

  • In Monday's session, gasoline futures jumped about 3 percent, heading for its largest daily gain in a month, after BP Plc's 240,000 barrel per day crude distillation unit at its Whiting, Indiana, refinery, was shut by a malfunction on Saturday, sources familiar with operations at the plant said. Brent crude was up $1.28, or 2.6 percent, at $49.89 a barrel by 11:00 a.m....

  • HOUSTON, Aug 7- Production at Valero Energy Corp's 180,000- barrel-per-day Memphis, Tennessee, refinery has been cut back during the week due to unit outages and disruptions, according to people familiar with plant operations. The refinery's hydroplex, which provides 40,000 bpd in hydrotreating along with increased hydrogren content and gas concentration...