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Oil and Gas Oil and Gas Refining

  • BEIJING, July 25- State oil trader Unipec will develop "really strong" ties with China's independent refiners, said a company executive on Tuesday, even as they present a growing challenge to its parent and Asia's top refiner, Sinopec Corp.. With about 2 million barrels per day in crude import quotas this year, the growing role of the teapots has forced state...

  • *Global electric vehicle fleet to grow to 83 million by 2030. SINGAPORE, July 24- Global oil demand could peak as early as 2024 if there are more efficiency gains in vehicles, greater market penetration by electric cars, lower economic growth and higher fuel prices, Goldman Sachs said in a research note on refining on Monday. Economic expansion in emerging markets-...

  • HOUSTON/ WASHINGTON, July 21- The United States is considering financial sanctions on Venezuela that would halt dollar payments for the country's oil, according to a senior White House official and an adviser with direct knowledge of the discussions. Sanctions prohibiting any transaction in U.S. currency by Venezuela's state-run oil firm, PDVSA, are among the...

  • LONDON, July 21- Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. On July 20, there were 15 very large crude carriers and 3 Suezmax tankers identified en route from Saudi Arabia to the United States, according to Kpler, a global cargo-tracking firm based...

  • *U.S. crude stocks, high OPEC supplies pressure market. LONDON, July 20- Brent crude oil rose above $50 per barrel for the first time since early June on Thursday, adding to gains made the previous session when falling U.S. crude and oil product inventories lifted the market. Brent futures, the international benchmark for oil prices, stood at $50.10 at 1257 GMT, 40 cents...

  • *Brent, WTI futures held below $50 a barrel. *U.S. crude stocks, high OPEC supplies pressure market. Brent crude futures, the international benchmark for oil prices, stood at $49.72 per barrel at 0939 GMT, 2 cents up from their last settlement.

  • NEW YORK, July 19- Oil prices jumped almost 2 percent to a six-week high on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. The Energy Information Administration said U.S. crude stocks fell 4.7 million barrels during the week ended July 14., exceeding...

  • The Energy Information Administration said U.S. crude stocks fell 4.7 million barrels during the week ended July 14., exceeding estimates for a 3.2 million draw in a Reuters poll. Brent futures for September delivery were up 60 cents, or 1.2 percent, at $49.44 a barrel by 11:58 a.m. EDT. "The report was more good news for the oil industry as inventories declined...

  • The Energy Information Administration said U.S. crude stocks fell 4.7 million barrels during the week ended July 14., exceeding estimates for a 3.2 million draw in crude stocks in a Reuters poll. Brent futures for September delivery were up 69 cents, or 1.4 percent, at $49.53 a barrel by 11:09 a.m. EDT. "The report was more good news for the oil industry as...

  • *Rising Libya, Nigeria output undermines OPEC supply cut. LONDON, July 19- Oil rose on Wednesday, supported by strong demand for gasoline, but rising output from OPEC producers revived concerns about a persistent overhang of excess crude. Brent crude futures were up 21 cents at $49.05 a barrel by 1204 GMT, while U.S.

  • *Rising Libya, Nigeria output undermines OPEC supply cut. LONDON, July 19- Oil prices traded higher on Wednesday, supported by a strong gasoline market, but rising output from OPEC producers revived concerns about a fuel supply overhang. Brent crude futures, the international benchmark, were up 11 cents at $48.95 per barrel at 0925 GMT.

  • *Rising Libya, Nigeria output undermines OPEC supply cuts. SINGAPORE, July 19- Oil prices fell on Wednesday after a rise in U.S. crude inventories and ongoing high output from OPEC producers revived concerns of a fuel supply overhang. Outside the United States, supplies from the Organization of the Petroleum Exporting Countries remained high, largely due to...

  • *Rising Libya, Nigeria output undermines OPEC supply cuts. Outside the United States, supplies from the Organization of the Petroleum Exporting Countries remained high, largely because of rising output from member-states Nigeria and Libya, despite the club's pledge to cut production. The French bank said that the rising output from Nigeria and Libya eroded...

  • Rising Libya, Nigeria output undermines OPEC supply cuts. Outside the United States, supplies from the Organization of the Petroleum Exporting Countries remained high, largely because of rising output from member-states Nigeria and Libya, despite the club's pledge to cut production. "Nigeria and Libya have made significant progress in reinstating their...

  • *Ecuador non-compliance with cuts could complicate OPEC deal. NEW YORK, July 18- Oil prices rose slightly on Tuesday as Saudi exports fell and solid demand soaked up some of what is seen as an oversupplied market, but Ecuador's decision to opt out of an OPEC- led supply reduction pact complicated the outlook. Benchmark Brent crude settled up 42 cents at $48.84 a...

  • *Ecuador non-compliance with cuts could complicate OPEC deal. NEW YORK, July 18- Oil prices rose slightly on Tuesday as Saudi exports fell and solid demand soaked up some of what is seen as an oversupplied market, but Ecuador's decision to opt out of a supply reduction pact complicated the outlook for the OPEC- led cut agreement. Benchmark Brent crude settled up 42...

  • *Ecuador non-compliance with cuts could complicate OPEC deal. NEW YORK, July 18- Oil prices rose slightly on Tuesday as solid demand soaked up some of what is seen as an oversupplied market, but Ecuador's decision to opt out of a supply reduction complicated the outlook for an OPEC- led cut agreement. Although many OPEC countries have restricted production, others...

  • *OPEC- shale "tug of war" keeping market range-bound. LONDON, July 18- Oil prices rose on Tuesday as demand soaked up some of the surplus supplies from OPEC and the United States, but traders said the market remained in a tight range and showed few signs of big short-term moves. A deal by the Organization of the Petroleum Exporting Countries with Russia and other non-...

  • *OPEC- shale "tug of war" keeps market fairly range-bound. LONDON, July 18- Oil rose on Tuesday as demand soaked up some of the surplus supplies from OPEC and the United States, but traders said the market was trading in a tight range and showed few signs of big short term moves. A deal by the Organization of the Petroleum Exporting Countries with Russia and other non- OPEC...

  • *OPEC- shale "tug of war" keeping market range-bound. *Rising oil production in Libya, Nigeria, United States. LONDON, July 18- Oil markets steadied on Tuesday, supported by firm demand but weighed down by high supplies from OPEC and producers in the United States.