Oil falls on warmer weather, small US stocks drawdown
(Guardian.co.uk
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31/12/2010)
Oil eased further below $90 on Friday on forecasts for warmer weather in the U.S. Northeast, the world's top heating oil market, and a smaller-than-expected drawdown in U.S. crude stocks. FUNDAMENTALS * NYMEX crude for February fell 20 cents to $89.64 a
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Oil to end the year up 12 pct, averages near $80
(Guardian.co.uk
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31/12/2010)
Oil was set to close the year up more than 12 percent and average nearly $80 a barrel -- the second highest on record -- driven by a resurgence in global demand, an unusually cold winter and falling inventories. After rallying since May to a 26-month
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Oil hovers above $91 ahead of U.S. inventory data
(Guardian.co.uk
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30/12/2010)
Oil held above $91 a barrel on Thursday, ahead of U.S. weekly inventory data expected to show a drawdown in crude stocks for the fourth consecutive week due to an abnormally icy winter. U.S. crude for February delivery edged up 18 cents to $91.30 a
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Oil rises to $91
(The Hindu Business Line
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30/12/2010)
Oil rose in the Asian trade on Thursday on expectations that the freezing temperatures in the northern hemisphere will strengthen the demand. New York’s main contract, light sweet crude for February delivery, rose three cents to $91.15 per barrel. Brent
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Oil steadies above $91 ahead of U.S. inventory data
(Guardian.co.uk
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29/12/2010)
Oil steadied above $91 a barrel on Wednesday, as forecasts for warmer weather in the U.S. Northeast offset expectations for a further drawdown in crude stocks in the world's largest oil user. NYMEX crude for February delivery slipped 12 cents to $91.37 a
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PetroChina sells natural gas Assets to Kunlun Energy
(Steelguru
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29/12/2010)
It is reported that PetroChina is to sell its 60% stake in PetroChina Beijing Natural Gas Pipeline to Kunlun Energy for CNY 18.87 billion. The other 40% stake of Beijing Natural Gas Pipeline is currently held by Beijing Gas Group. Beijing Natural Gas
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Oil down in Asian trade but cold spell to limit fall
(Business Standard
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29/12/2010)
Oil fell in Asian trade today but the decline was seen as limited with heating oil demand set to stay firm as a cold spell continued to grip the United States and Europe, analysts said. New York's main contract, light sweet crude for delivery in February
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Sinopec plans 6 billion cubic meters gas capacity in Yuanba by 2015
(Reuters
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29/12/2010)
Reuters reported that China Petrochemical Corp plans to build 6 billion cubic meters of annual natural gas production capacity in the Yuanba gas field in southwestern Sichuan by end 2015 equivalent to half of its largest field Puguang. Mr Shen Chen head
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Oil prices climb above $91; dollar supports
(Business Standard
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28/12/2010)
US crude prices rose above $91 a barrel, hovering just below a 26-month top hit in the previous session, supported by a weaker dollar and hopes that a major snow storm on the US East Coast would stoke demand for heating oil. Prices were also getting a
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China natural gas output in 11 months up by 12pct YoY
(Capitalvue
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28/12/2010)
According to the National Development and Reform Commission, natural gas output nationwide increased 12.5%YoY to 86.2 billion cubic meters in the first 11 months. Natural gas output in November grew 9.1%YoY and 6.92%MoM to 8.5 billion cubic meters.
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China crude oil output in Nov up by 11pct YoY
(Capitalvue
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28/12/2010)
According to the National Development and Reform Commission, national crude oil output increased 10.8%YoY to 17.22 million tonnes in November. Cumulative crude oil output grew 6.7%YoY to 184.22 million tonnes in the first 11 months. Crude oil imports in
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Indian oil and gas sector scales new heights in 2010
(Steelguru
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28/12/2010)
The Year 2010 has been remarkable for Oil and Gas sector as several important initiatives were taken by the Ministry of Petroleum and Natural Gas for its development, growth and for improving customer services, quality and reach of the petroleum
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Japan's JX plans Jan crude refining steady yr/yr
(Reuters
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28/12/2010)
Japan's top oil refiner JX Nippon Oil & Energy Corp plans to refine 6.63 million kilolitres (1.35 million barrels per day) of crude oil in January for domestic consumption, steady from a year earlier, a company executive said on Monday. That compared
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Oil steadies near 2-year high
(Guardian.co.uk
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27/12/2010)
Oil steadied near two-year highs on Monday as uncertainty over Chinese fuel demand growth following a Christmas Day interest rate hike offset a blizzard in the U.S. Northeast. U.S. crude for February nudged three cents lower to $91.48 a barrel by 0512
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Sinopec Addax to churn out 4pct more crude in 2010
(Reuters
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27/12/2010)
Reuters reported that Crude oil output from China Petroleum & Chemical Corp Addax unit will grow 3.7%YoY to 7 million tonnes this year or 140,000 barrels per day. Production had increased to 155,000 bpd recently from 136,000 barrels per day in August
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CNPC issues CNY 5 billion of unsecured SCP
(Steelguru
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27/12/2010)
It is reported that China National Petroleum Corporation issued CNY 5 billion of 270 day fixed-rate unsecured super and short term commercial paper. It is the first SCP issued in China. The value date of the SCP is December 27. Trading in the SCP will
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Crude oil up at $91
(The Hindu Business Line
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27/12/2010)
Crude prices were above the $91 mark in Asian trading on Monday. Dealers said the reason for this was OPEC saying that it had no plans to increase output. In New York crude rose 17 cents to touch $91.34.
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Oil rises to 26-month high near $92
(Reuters
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27/12/2010)
US crude prices rose to an intraday high of $91.79 a barrel on Monday, the highest level since October 2008, on freezing weather in the US Northeast.
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Oil climbs to 26-month high on US blizzard
(Reuters
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27/12/2010)
Oil climbed to a 26-month high on Monday as a blizzard in the US Northeast offset uncertainty over Chinese fuel demand following a Christmas Day interest rate hike. US crude for February rose 33 cents to $91.84 a barrel by 0733 GMT, after hitting an
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Oil Rise to $100 May Be Checked as Tax Move Threatens Glut
(Bloomberg
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27/12/2010)
Oil supplies may come back to the U.S. Gulf Coast in January, sapping crude’s drive toward $100 a barrel, after stockpiles tumbled the most in 30 years this month as refiners sought to avoid year-end tax liabilities. Supplies in states along the Gulf of
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Oil price prediction: $100 in 1Q and $150 by summer
(Oil & Gas Financial Journal
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27/12/2010)
The price of a barrel of crude oil could soar to nearly $150 by summer, according to Joe Petrowski, CEO of Gulf Oil and the Cumberland Gulf Group. Petrowski made the statement on a CNBC program on Dec. 23. “If we’re not producing it domestically, because
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Oil Trades Near 26-Month High on China Growth Speculation
(Bloomberg
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27/12/2010)
Oil traded near its highest price in more than two years in New York as temperatures fell and storms blanketed snow across the eastern U.S., increasing demand for heating fuel. New York City may get as much as 20 inches (51 centimeters) of snow by
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TOP Oil Market News: Oil Falls From Two-Year High
(Bloomberg
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27/12/2010)
Oil Slips From Two-Year High Before Meeting of Arab OPEC Heads Crude oil fell from its highest in two years in London as the Arab members of OPEC gathered in Cairo for their annual meeting tomorrow. TOP MARKET NEWS: Death Toll in Nigeria Bomb Blasts
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Oil, at $91-Plus, Feeling U.S. Demand
(The Wall Street Journal
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27/12/2010)
Crude-oil futures prices, at a two-year high above $91 a barrel, are finding support from a surprising source: U.S. oil demand. Three weeks ago, U.S. forecasters said December oil demand would dip from a year ago. That would have been par for the course
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OIL FUTURES: Crude Eases From 2-Year High After China Rate Hike
(MarketWatch
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27/12/2010)
Nymex crude oil futures traded slightly lower Monday, easing from a two-year high in the previous session, after China's central bank raised its benchmark deposit and lending rates. The move signaled that inflation in China has become a "more serious
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