Wednesday, November 21, 2012

20121121 1107 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares steady, refocusing on US fiscal cliff
TOKYO, Nov 21 (Reuters) - Asian shares steadied, after a two days of gains, as investors refocused on the risk of a U.S. fiscal crisis following Federal Reserve Chairman Ben Bernanke's remarks that the budget impasse was already damaging growth.
"We remain wary of the fiscal cliff," Barclays Capital said in a research note. "We think the uncertainty associated with the current range of fiscal outcomes during the tax cliff negotiations and beyond is under appreciated by investors."

FOREX-Yen hits 7-month low, euro helped by Greece hopes
TOKYO, Nov 21 (Reuters) - The yen slumped to seven-month lows against the dollar and fell nearly as far against the euro on views Japan's central bank will be pushed into implementing more radical monetary expansion policies.
"Abe now has few other things left to say about monetary policy. It's about the time the power of his magic to run out," said Daisuke Uno, chief strategist at Sumitomo Mitsui Banking Corp, adding that the yen's slide will likely have run its course by the U.S. Thanksgiving on Thursday.

OIL - Oil drops as Gaza truce seen; losses pared on API data
NEW YORK, Nov 20 (Reuters) - Oil fell from a one-month high on Tuesday amid signs of a ceasefire that would end a week of rocket attacks and air strikes between Palestinians and Israelis.
"Yesterday's big rally was all about fears of a wider conflict stemming from Israel and Gaza, so when the truce was announced it's not surprising we've seen prices come right off," said Andy Lebow, vice president at Jefferies Bache in New York.

POLL-US crude, gasoline inventories seen higher, distillates off
Nov 20 (Reuters) - U.S. crude oil and gasoline inventories were forecast to have increased last week while distillate stockpiles were seen down on higher heating oil demand, an expanded Reuters poll of seven analysts showed on Tuesday.
Crude inventories were seen up 900,000 barrels for the week that ended Nov. 16, extending builds of 1.1 million barrels seen in the previous week.

Chevron accuses NY State comptroller of ethics breach
LOS ANGELES, Nov 20 (Reuters) - Chevron Corp  sought to open an investigation on Tuesday into New York State Comptroller Thomas DiNapoli, claiming he pressured the oil company to settle environmental litigation in Ecuador in exchange for campaign contributions from supporters of the lawsuit's plaintiffs.
Chevron said it filed a complaint before the New York State Joint Commission on Public Ethics, seeking a probe of DiNapoli and current and past members of his staff.

Important issues remain on CNOOC bid for Nexen -source
OTTAWA, Nov 20 (Reuters) - China's CNOOC  is still discussing Canadian demands on jobs and investment as it negotiates terms for its $15 billion bid for oil and gas producer Nexen Inc , a source familiar with the negotiations said on Tuesday.
Differences center on commercial aspects of the deal, particularly commitments that the Chinese state-owned energy company will make on employment and capital expenditure, said the source, who declined to be identified due to the sensitivity of the issue.

South Sudan says new demands from Sudan delay oil restart
MELUT, South Sudan, Nov 20 (Reuters) - South Sudan's President Salva Kiir said resumption of the country's oil output had been delayed after Sudan made new demands related to rebel fighting in Sudanese territory, in new signs of tension between the African neighbours.
Landlocked South Sudan, which seceded from Sudan in July last year, shut down its roughly 350,000 barrels per day of oil output in January in a dispute with Khartoum over how much it should pay to export oil through Sudan to the Red Sea.

Phillips 66 Bayway refinery begins restart -sources
Nov 20 (Reuters) - Phillips 66's  238,000 barrel-per-day Bayway refinery in Linden, New Jersey, is in the early stages of restarting for the first time after being shut on Oct. 28 ahead of Superstorm Sandy's landfall, sources familiar with operations at the refinery said on Tuesday.
The refinery is raising steam pressure and heating up units to operating temperatures and plans to resume production "as soon as possible," one of the sources said.

Malaysia's Dialog, Halliburton in $1.2 bln oil services deal
KUALA LUMPUR, Nov 20 (Reuters) - Malaysia's Dialog Group Bhd  said it has signed an agreement with Halliburton International Inc  for a contract worth $1.2 billion aimed at boosting oil output from a mature field in East Malaysia.
The agreement aims to boost recoverable reserves in the Bayan Field, located offshore Sarawak, as Malaysia tries to boost flagging production from its existing oil fields.  

Venezuela's Amuay refinery halts flexicoker production
PARAGUANA, Venezuela, Nov 20 (Reuters) - Venezuela's Amuay refinery, the OPEC nation's largest, halted production at its flexicoker unit following a leak, state oil company PDVSA said on Tuesday.
The 645,000 barrel per day (bpd) facility has been operating at half capacity since an explosion and subsequent fire in August that killed more than 40 people.

TransCanada to acquire BP's stake in gas storage site
CALGARY, Alberta, Nov 20 (Reuters) - TransCanada Corp  said on Tuesday it would pay C$210 million ($210 million) for BP Plc's  40 percent stake in the Crossfield Gas Storage facility, 50 kilometers (31 miles) north of Calgary, Alberta, to consolidate ownership of the operation.
TransCanada, the country's largest pipeline company, said the acquisition would give it full control of the site it has operated since last year and adds 27 billion cubic feet of natural-gas storage.

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