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Top oil companies raise more debt than ever in 2015

LONDON, March 20 (Reuters) - The world's top oil companies raised a record $31 billion of debt in the first two months of 2015, Morgan Stanley research shows, taking advantage of ultra-low borrowing costs to prop up dividends, balance sheets and acquisition funds. The top U.S. and European

Asia Tankers-Ample tonnage, few cargoes weigh on VLCC rates

* Owners resist charterers moves to force rates under W50 * West Africa cargo volumes remain steady -broker By Keith Wallis SINGAPORE, March 20 (Reuters) - Rates for very large crude carriers (VLCCs) on key Asian routes will face further pressure next week even as owners resist

UPDATE 1-Angola sees oil output rising 10 pct this year to 1.84 mln bpd

(Recasts, adds details, background) JOHANNESBURG, March 20 (Reuters) - Angola expects oil output to average 1.84 million barrels per day (bpd) this year, up 10 percent from 1.67 million bpd in 2014, according a revised 2015 budget passed by parliament on Thursday, the state news agency said

BP says force majeure on Saturno crude to last roughly 8 days

LONDON, March 19 (Reuters) - BP said the force majeure it declared on Angola's Saturno crude oil will last about eight days from when it was declared on March 16. The oil company declared force majeure after a power loss at the PSVM oil project's floating production, storage and offloading

Unions to ballot UK North Sea oil workers over appetite for strike

LONDON, March 19 (Reuters) - Trade unions Unite and GMB are balloting their members working offshore in Britain's oil and gas industry to gauge appetite for strike action over changes to shift patterns and other grievances. The two unions represent about 3,000 offshore workers, including en

BP Whiting small FCC under repair, Toledo FCC returning -sources

HOUSTON, March 18 (Reuters) - Repairs were continuing on Wednesday on the 65,000 barrel per day (bpd) fluidic catalytic cracking unit (FCCU) at BP Plc's 413,500 bpd Whiting, Indiana refinery, sources familiar with plant operations said on Wednesday. BP's joint-venture 135,000 bpd refinery w

London close: FTSE jumps 1.6% after business-friendly Budget, Fed meeting ahead

Those expecting little market reaction to the Budget on Wednesday were probably left surprised, with stocks in the energy, financial, housing and consumer staples sectors leading the surge in London following George Osborne's statement. Dovish comments from Bank of England policymakers were also buo

UPDATE 2-Britain hands lifeline to North Sea oil industry with tax cuts

(Adds comments, background) By Karolin Schaps LONDON, March 18 (Reuters) - Britain announced on Wednesday a series of oil tax cuts and the creation of an investment allowance, heeding calls for help from battered North Sea oil and gas companies juggling high costs and a price slump.Read more

Sector movers: Oil stocks extend gains as Budget confirms North Sea tax breaks

Confirmation by chancellor George Osborne of budgetary measures to ease the pain in the struggling oil industry gave energy producers and services stocks another big lift on Wednesday. The 2015 Budget, the last of the current parliament, revealed new tax allowances worth £1.3bn in total to stimulate

Britain cuts oil taxes, hands lifeline to battered North Sea

LONDON, March 18 (Reuters) - British finance minister George Osborne on Wednesday cut oil taxes and announced the creation of an investment allowance, an attempt to breathe new life into the battered North Sea oil and gas industry. "It's clear to me that the fall in the oil price poses a pr

Workers at largest U.S. refinery OK deal; Tesoro making progress

HOUSTON, March 17 (Reuters) - More than 700 union workers at the largest U.S. refinery unanimously approved a new contract in a vote at their union hall in Port Arthur, Texas, on Tuesday night, said union officials. The United Steelworkers union (USW) also said workers at three Tesoro Corp

U.S. Cash Products-Midwest gasoline up on area refinery problems

* Gulf gasoline rises on pipeline scheduling * NY harbor ULSD, high sulfur heating oil strengthen * RIN credits mostly lower NEW YORK, March 17 (Reuters) - Midwest cash gasoline differentials to futures benchmarks strengthened sharply on Tuesday because of refinery problems in the re

MARKET COMMENT: FTSE 100 Outperforms As European, US Indices Retrace

BP Whiting, Indiana, refinery's small FCCU remains shut - source

NEW YORK, March 17 (Reuters) - BP Plc's Whiting, Indiana, refinery's small gasoline-producing fluid catalytic cracking unit remains shut for repairs with no date for restart yet, according to a person familiar with the plant. The refinery has the ability to process 413,500 barrels of crude

UPDATE 1-Turkey launches project to pipe Azeri gas to Europe

(Releads with TANAP inauguration) By Orhan Coskun and Humeyra Pamuk ANKARA, March 17 (Reuters) - Turkey inaugurated a $10 billion project to pipe Azeri gas to Western markets on Tuesday, forging ahead with a plan which could help Europe reduce its dependence on Russian energy even as