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Crude oil prices fall further in Asia

Oil prices extended losses in Asian trade Friday as data showing a slowdown in China's giant economy sparked concerns about weak demand. Expectations that Libyan oil will return to the market after rebels lifted a blockade of crude terminals also helped push prices lower, analysts said. New York's main contract West Texas Intermediate for May delivery eased 16 cents to $103.24 a barrel in mid-morning trade while Brent North Sea crude tumbled 12 cents to $107.34 for its May contract.

Crude oil dips on Libyan prospects, weak China data

Oil prices dipped Thursday, weighed down by signs some Libyan crude exports will resume soon and weak trade data in China, the world's second-biggest oil consumer. US benchmark West Texas Intermediate for May delivery declined 20 cents to finish at $103.40 a barrel on the New York Mercantile Exchange. Brent North Sea crude for May dropped 52 cents to stand at $107.46 a barrel in London.

Libya rebels hand over oil ports to army

The Libyan army said it had taken control Wednesday of two oil ports under a weekend deal to end a crippling nine-month blockade by rebels seeking autonomy in the country's east. Colonel Ali al-Shikhi, spokesman for the army general staff, said men under its command had taken control of Al-Hariga and Zueitina ports. The rebels' seizure of four eastern oil terminals last July in pursuit of their campaign for restored autonomy for the eastern Cyrenaica region slashed exports from 1.5 million barrels per day to just 250,000 bpd.

Libya rebels hand over oil port to army

Rebels in eastern Libya ceded control of the oil port of Al-Hariga Wednesday, in the first handover under a weekend deal to end a crippling nine-month blockade, the army said. A port official said exports could resume from the terminal as early as Sunday if the National Oil Company gave the necessary approvals, restoring a much-needed revenue stream for the weak central government following the 2011 overthrow of Moamer Kadhafi.

Kazakhstan nervous of tougher Russia/Ukraine oil sanctions

By Raushan Nurshayeva and Alla Afanasyeva ASTANA/MOSCOW (Reuters) - Kazakhstan, which has backed close ally Russia's actions in Ukraine, is seeking alternative routes for its oil exports which may fall if the West decides to toughen sanctions against Russia, a major transit route of Kazakh crude to world markets.

Wildlife still suffers four years after BP oil spill

Birds, fish, dolphins and turtles are still struggling in the Gulf of Mexico, four years after the worst oil spill in US history, a leading wildlife group said Tuesday. The 2010 BP spill spewed 4.9 million barrels of oil into the waters off Louisiana, also sullying the coastlines of Mississippi, Alabama, Texas and Florida. "The science is telling us that the impacts of this are far from over," said Doug Inkley, senior scientist at the National Wildlife Federation. "Based on other oil spills, the impacts are likely to last for years, if not decades."

West urges rapid opening of ports under Libya oil deal

Western states on Monday called for a rapid reopening of oil terminals in eastern Libya after rebels agreed to gradually lift a nine-month blockade. The rebels seeking regional autonomy agreed Sunday to allow the reopening of two of four oil terminals which they have blockaded since July. The blockades have denied the country vital revenues, as the weak central government struggles to impose law and order following the 2011 uprising that ended Moamer Kadhafi's four-decade reign.

Kuwait to invite bids for new refinery: oil official

OPEC member Kuwait will invite bids for a new multi-billion-dollar oil refinery next month as part of a drive to modernise the key sector, a top executive said on Monday. "We will invite bids for the new refinery project in May," CEO of national conglomerate Kuwait Petroleum Corp. (KPC) Nezar al-Adasani said. "Another project costing $1.0 billion for the development of heavy oil from northern oilfields will be awarded later in April," Adasani told reporters on the sidelines of the second Gulf Petroleum Forum.

Gazprom Neft CEO says Russian oil company could look eastward if sanctions hit

By Katya Golubkova ST PETERSBURG, Russia (Reuters) - Gazprom Neft has not been affected by Western sanctions over Russia's annexation of Crimea but is ready to move away from dollars in its contracts and to redirect oil flows to Asia if needed, the CEO of Gazprom's oil arm said.

Libyan rebels, government agree to reopen two occupied oil ports

TRIPOLI (Reuters) - Libya's government reached a deal with rebels on Sunday to reopen two occupied oil ports accounting for 200,000 barrels per day of crude exports in a major breakthrough to end an eight-month blockade. Zueitina and Hariga ports - the two smallest of four terminals seized by rebels demanding more autonomy from Tripoli and a greater share of oil wealth - will be reopened on Sunday, according to the agreement.
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