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LONDON / Reuters Gasoline exports from Europe to the Middle East have surged in recent months to record highs as traders seek to fill a gap due to particularly heavy refinery maintenance in the region in the coming months, according to shipping data and trading sources. So far this month, at least a dozen tankers have been confirmed or placed ...

Bloomberg India, the largest importer of Chinese solar equipment, proposed a 70 percent safeguard duty on cells and modules shipped from China and Malaysia, citing “threat of serious injury” to the domestic industry. Acting on an application by five local cell and module makers, the Directorate General of Safeguards, Customs and Central Excise made the proposal in a document dated ...

Bloomberg Saudi Arabian Oil Co. is set to appoint banks including Goldman Sachs Group Inc. and Citigroup Inc. to help manage its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with what could be the world’s largest share sale. JPMorgan Chase & Co., HSBC Holdings Plc and Morgan Sta- nley, which have ...

Bloomberg Oil steadied near $62 a barrel on estimates that US crude stockpiles declined for an eighth week as the rebalancing of global markets continues. Futures added as much as 1.3 percent in New York to the highest intraday level in almost three years. US inventories probably fell by 3.75 million barrels last week, according to a Bloomberg survey before ...

Bloomberg OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents. The ships’ average earnings plunged last year by more than half to levels not seen since 2009 and far below what shipping analysts had been predicting. Now, the producer ...

TUNIS / Reuters Libya’s National Oil Corp (NOC) said it had won two international arbitration cases over the 220,000 bpd-capacity Ras Lanuf refinery, and called for the refinery to restart as soon as possible. The NOC said in a statement that the arbitration cases, which date to 2013, had been settled in its favour at the International Chamber of Commerce ...

DUBAI / Reuters OPEC is monitoring unrest in Iran as well as Venezuela’s economic crisis, but the group will only boost output if there are significant and sustained production disruptions from those countries, a senior OPEC source from a major Middle Eastern oil producer said. Venezuela’s economic troubles have hit the country’s oil out-put, which is at near 30-year lows, ...

Bloomberg Saudi Arabian Oil Co. and some of the kingdom’s biggest companies said they’ll pay Saudi staff more money, matching a royal order that extended handouts to government workers to ease public discontent over rising prices. Aramco, preparing for what could be the world’s largest initial public offering, will pay “eligible employees” an extra 1,000 riyals ($267) a month for ...

Bloomberg Oil rose after drilling activity in the US eased, adding to signs the global crude surplus is abating. West Texas Intermediate futures rose 0.5 percent, following a 1.7 percent increase last week, when they hit a three-year high. Rigs drilling for crude fell by five to 742 in the seven days ended January 5, according to Baker Hughes data. ...

SINGAPORE/ Reuters Profits for Asia’s oil refiners dropped to their lowest since May last year as rising supplies dragged down regional fuel prices at the same time that global crude oil prices have climbed to two-year highs, data on Thomson Reuters Eikon showed. Margins at a typical complex refinery in Singapore fell to $5.93 a barrel, the lowest since May ...