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MARKET NEWS:
Brent steady at about $113 as growth concerns counter Iran
SINGAPORE, Jan 6 (Reuters) - Brent crude was flat at about $113 a barrel as unabated euro zone debt woes and a surprise build in U.S. oil stockpiles tempered gains from supply disruption fears on mounting tensions between Iran and the West.
"Oil could see-saw as the U.S. and Iran play brinkmanship," said Tony Nunan, a risk manager at Mitsubishi Corp, adding that the global oil demand outlook was murky as the euro zone crisis dragged on.
U.S. stock futures signal higher Wall St open
U.S. stock index futures pointed to a higher open for equities on Wall Street, with futures for the S&P 500 , for the Dow Jones and for the Nasdaq 100 rising 0.2-0.4 percent.
U.S. employment likely grew solidly last month, meaning the jobless rate probably rose from a 2-1/2 year low as improving conditions lured Americans who had given up looking for work back into the labour market. U.S. non-farm payrolls data will be released at 1330 GMT.
FOREX-Euro hits 16-mth low vs dollar, more falls likely
LONDON, Jan 6 (Reuters) - The euro hit 16-month lows against the dollar and sterling and hovered near an 11-year low versus the yen, with further declines expected as worries grow about a worsening euro zone debt crisis and sovereign funding pressures.
"There is a general tendency to sell the euro on any rallies," said Ankita Dudani, currency strategist at RBS.
GLOBAL MARKETS-Debt woes hit euro, stocks firm; U.S. jobs eyed
LONDON, Jan 6 (Reuters) - The euro was under pressure and safe-haven assets in demand on signs that fallout from the euro zone's debt crisis is hitting its banks, but hopes U.S. jobs data later in the day would brighten the economic outlook lifted stocks.
"There is a general tendency to sell the euro on any rallies," said Ankita Dudani, currency strategist at RBS.
TOP NEWS:
Santos Indonesia Wortel gas field to start this month
JAKARTA, Jan 6 (Reuters) - Australian energy firm Santos Pty Ltd's Wortel natural gas field off Indonesia's Madura island is set to begin production by the end the month, Indonesia oil and gas regulator BPMigas said on Friday.
The field in the offshore Sampang Block will produce 50 million standard cubic feet per day (MMSCFD) of gas for domestic consumption, said BPMigas project deputy Hardiono.
Marubeni to buy stake in US shale oil project
TOKYO, Jan 6 (Reuters) - Japanese trading house Marubeni Corp said on Friday it would spend $1.3 billion on a 35 percent stake in a Texas-based shale oil and gas project from Texas firm Hunt Oil Co and on developing the field, making it the biggest shale oil reserve holder in Japan.
The project, located in the Eagle Ford Shale area, started commercial production in October 2010 and is expected to reach peak output in about five years, with Marubeni's share worth more than 10,000 barrels per day of oil equivalent, a company spokesman said.
Japan crude stocks rise despite strong crude runs
TOKYO, Jan 6 (Reuters) - Japan's commercial crude inventories rose 1 percent last week, despite the highest weekly crude runs since March, implying that crude imports were robust in the final week of 2011, industry data showed on Friday.
Crude stocks in the world's third-biggest oil consumer increased by nearly 1 million barrels from the week before to 15.38 million kilolitres (96.7 million barrels) in the week to Dec. 31, the Petroleum Association of Japan (PAJ) said.
Sinopec Group says 2011 crude runs up 2.7 pct y/y
BEIJING, Jan 6 (Reuters) - Crude oil throughput and oil product output by China Petrochemical Corp (Sinopec Group) increased 2.7 percent from a year earlier in 2011, Asia's largest refiner said on Friday.
The parent of China Petroleum and Chemical Corp (Sinopec Corp) did not give outright volumes in the report published on one of its websites.
BP, ConocoPhillips, Exxon discuss Alaska gas export plan
ANCHORAGE, Alaska, Jan 5 (Reuters) - The chief executives of BP and ConocoPhillips , two of Alaska's three major oil producers, said on Thursday that the only profitable way to exploit a vast but stranded quantity of Alaska's North Slope natural gas is to export it to Asian Pacific markets.
In a dramatic change from decades-old plans to send North Slope natural gas to domestic U.S. markets by overland pipeline through Canada, the BP and ConocoPhillips CEOs said they will work with Exxon Mobil , the third major North Slope oil producer, to develop an LNG project that would export to Asia.
Transocean looking for new CFO
Jan 5 (Reuters) - Transocean, said on Thursday its chief financial officer is retiring and the world's largest offshore drilling contractor is looking for a replacement.
Ricardo Rosa, 55, will step down from his position on January 9. He will be replaced by former CFO Greg Cauthen, who will return to the company on an interim basis.
YPF finds new oil resources in Argentina
BUENOS AIRES, Jan 5 (Reuters) - YPF has discovered prospective resources of an estimated 40 million barrels of oil equivalent in the Chachahuen block in Argentina's western Mendoza province, the company said on Thursday.
The energy firm, which is the local unit of Spain's Repsol , said preliminary test results from three wells revealed the presence of between 200 and 315 barrels per day (bpd) of medium-density crude.
REFINERY NEWS:
India's Reliance to shut CDU, gasoline units in February
SINGAPORE, Jan 6 (Reuters) - India's Reliance Industries will shut several units at its newer 580,000 barrels-per-day Jamnagar refining complex for a three-week maintenance in February, traders said on Friday.
The shutdown will reduce its appetite for crude and also cut back gasoline output, tightening supply of the motor fuel in Asia.
Japan's Showa Shell: total Q1 crude refining -15 pct
TOKYO, Jan 6 (Reuters) - Showa Shell Sekiyu KK , Japan's fifth-largest refiner, said on Friday it expects to refine 15 percent less crude oil in January-March than a year earlier, due partly to the closure of its Ohgimachi factory in September.
Of the total 7.76 million kilolitres (536,000 barrels per day) of crude for January-March, it expects to refine 7.7 million kl at four group refineries for the domestic market, down 4 percent from the same period last year.
Conoco reports maintenance at JV Borger, TX, refinery
Jan 6 (Reuters) - ConocoPhillips reported maintenance work on the Unit 29 auto fluxer at its 146,000 barrels-per-day joint venture refinery in Borger, Texas, according to a filing with regulators.
"There is a potential that there may be high opacity during the work," the filing with Texas Commission on Environmental Quality said.
Citgo's Lake Charles refinery reports power failure
Jan 6 (Reuters) - Citgo Petroleum Corp's 429,000 barrels per day (bpd) Lake Charles, Louisiana, refinery reported a power failure on Thursday, according to a notice filed with the U.S. National Response Center.
"Several units are down and are flaring at this time," the filing showed on Friday.
Shell restarts Alberta refinery unit
CALGARY, Alberta, Jan 5 (Reuters) - Royal Dutch Shell Plc is restarting a processing unit at its 100,000 barrel a day Scotford refinery near Edmonton, Alberta, according to a message on a local community hotline on Thursday.
The company said there could be elevated noise and flaring over the next 48 hours but there would be no impact on production. It did not specify the unit being restarted.
BEYOND THE HEADLINES:
Myanmar awards onshore oil, gas blocks, offers offshore
KUALA LUMPUR, Jan 6 (Reuters) - Myanmar awarded 10 onshore oil and gas blocks to eight firms in its biggest energy tender in years and is now offering nine offshore blocks, two Yangon-based sources with direct knowledge of the deals told Reuters on Friday.
The winning firms were mostly from Asia, including Malaysia's Petronas and Thailand's PTT Exploration and Production, as western firms have shied away from the country.
China mulls new energy "super ministry"-sources
BEIJING, Jan 6 (Reuters) - China is considering a proposal to create an energy "super-ministry" as part of a sweeping cabinet reshuffle in 2013, two independent sources said, a step that would help Beijing impose its will on an industry beset by bureaucratic infighting.
The new ministry would replace the National Energy Administration (NEA), China's main energy regulator, and would take on the energy-related duties currently scattered across other government bodies, said the sources, who requested anonymity due to political sensitivities.
Screws tighten on Iran as big buyers shun its oil
TEHRAN, Jan 6 (Reuters) - Iran faced the prospect of cutbacks in its oil sales to China and Japan as new measures to block Tehran's crude exports over its nuclear programme appeared to be driving its economy to the wall.
The developments in Asia on Thursday followed news 24 hours earlier that EU leaders had agreed to halt European purchases of Iranian crude.
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