Refining

Maiden Bakken oil cargo to Asia ships out, with more to come

NEW YORK (Reuters) -- The first ever reported export of North Dakota's crude oil to Asia left port last month, according to a shipping document seen by Reuters on Wednesday, in what is expected to be the first of numerous cargoes once the key Dakota Access pipeline starts moving oil in May.

China sets deadline for refiners to apply for oil import permits

BEIJING (Reuters) -- China's top state planner will stop accepting new applications from oil refiners to use imported crude oil from May 5, it said on Thursday, amid growing concerns about domestic refining overcapacity that has led to record exports of fuel.

Marathon Petroleum posts surprise profit as pipeline unit delivers

(Reuters) -- Marathon Petroleum Corp reported a surprise quarterly profit on Thursday as the refiner earned more from its pipelines and storages business.

US crude inventories fall, products build as refining jumps

(Reuters) -- US crude oil inventories fell sharply and stockpiles of gasoline and distillates jumped last week as refineries hiked production rates to the highest since November 2015, the Energy Information Administration said on Wednesday.

Europe lures rare diesel cargoes from US East Coast

LONDON/NEW YORK (Reuters) -- US East Coast refineries are stepping up exports of diesel despite a regional deficit of the fuel as strong overseas demand, particularly in Europe, is proving more profitable.

Oil dips on doubts over OPEC's ability to reduce inventories

LONDON (Reuters) -- Oil eased on Tuesday, paring earlier gains, as doubts about OPEC's ability to reduce global crude inventories put the price on track for its six fall in seven days.

Russia elbows Saudi Arabia aside as China's top crude oil supplier in March

BEIJING (Reuters) -- Russia reclaimed its position as China's biggest crude oil supplier in March, customs data showed on Tuesday, displacing Saudi Arabia after two months in second place as Moscow fights to hang on to its slice of the Chinese market.

Valero's results beat on strong demand for refined products

(Reuters) -- Valero Energy Corp reported better-than-expected results as sales in its refining business shot up 40%, helped by robust gasoline demand and declining refined product inventories in the United States.

US East Coast refiners eye Texas oil as North Dakota alternative

NEW YORK (Reuters) -- US East Coast refiners are looking to buy increasing volumes of domestic crude oil from the Gulf Coast, two sources said, the latest twist in a trade flow upheaval in the wake of the opening of the Dakota Access pipeline.

Iran becomes No. 2 oil supplier to S. Korea in Q1 2017

SEOUL (Reuters) -- Iran ranked as South Korea's second-biggest oil exporter over the first three months of 2017 as it ramped up output to regain market share after sanctions were lifted last year, the first time ever it has claimed the No. 2 spot on a quarterly basis.