North Sea News
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The European oil price-fixing probe expanded as Neste Oil Oyj, Finland’s only refiner, said it was asked to provide information regarding potential manipulation of global crude and biofuel markets.
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BP Plc failed to buy Russian Urals crude at a higher price than yesterday. No bids or offers were made for North Sea Forties crude.
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The premium traders in Asia are paying for the earliest deliveries of fuel oil is poised to slide from an eight-month high as Europe floods the region with excess supplies and Chinese refinery demand wanes.
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Brent crude advanced for a third day as European car sales gained amid signs that U.S. economic growth will accelerate, boosting speculation that oil demand will increase.
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Total SA plans to drill more than 60 wells this year as the third-biggest European oil company seeks to increase the size of its discoveries and expand output.
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Trafigura Beheer BV sold North Sea Forties crude at a higher price. BP Plc failed to buy Russian Urals crude at a smaller discount to Dated Brent.
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Traders are standing by Platts, the company that provides benchmark prices for much of the world’s energy products, amid a European probe into market manipulation.
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London’s Southend airport predicts passenger numbers will jump 40 percent to 1.15 million in the next 12 months as Stobart Group Ltd. seeks a return on its 120 million pounds ($183 million) of spending in the past two years.
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Premier Oil Plc, an energy explorer operating from the U.K. to Southeast Asia, is targeting as much as 3 billion barrels of oil resources after acquiring exploration blocks in Brazil for the first time.
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Grain exports from the French port of Rouen, Europe’s biggest wheat-shipping hub, fell 65 percent to the lowest weekly level since December after deliveries to Algeria dropped and a barley cargo to Israel wasn’t repeated.
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