MILAN/LONDON (Reuters) – Italian oil company Eni led the charge back into Libya on Monday as rebels hailed the end of Muammar Gaddafi’s rule and as traders watched for the return of Libyan crude to the market.

Gaddafi’s fall will reopen the doors to Africa’s largest oil reserves and give new players such as Qatar’s national oil company and trading house Vitol the chance to compete for lucrative contracts, but rebels warned Russian and Chinese firms may be frozen out for failing to support the rebellion.

MILAN/LONDON, Aug 22 (Reuters) – Italian oil company Eni led
the charge back into Libya on Monday as rebels swept into
capital Tripoli, hailing the end of Muammar Gaddafi’s rule and
warning Russian and Chinese firms of contract revisions.

Gaddafi’s fall will reopen the doors to the country with
Africa’s largest oil reserves. New players such as Qatar’s
national oil company and trading house Vitol are set to compete
with established European and U.S. majors.

LONDON, Aug 11 (Reuters) – Brent crude fell below $106 a
barrel on Thursday, erasing earlier dollar-fuelled gains, on
investor concerns that the European debt crisis could spill over
to France and harm global economic growth.

Brent crude LCOc1 fell by 95 cents to $105.73 a barrel in
a choppy trading session, after earlier rising more than $1 on a
weak dollar. U.S. oil CLc1 futures were down 41 cents at
$82.48 by the same time.

HAMBURG/LONDON, Aug 10 (Reuters) – Private Dutch company Hestya Energy BV said on Wednesday
it plans to buy the German Wilhelmshaven oil refinery from U.S. group ConocoPhillips and
then restart it, adding to signs that investor interest in the crippled European refining sector
is not dead.

The north German plant has been mothballed for most of the past two years due to an extended
bout of poor margins and damage caused by a fire in May 2010.

LONDON, Aug 9 (Reuters) – Oil major BP said its
Valhall oil platform in the North Sea is unlikely to resume
operations before the end of August and Forties cargoes suffered
further delays, adding to supply problems in a region that sets
the global Brent benchmark.

A fire on July 13 halted output at BP’s Valhall in the
Norwegian part of the North Sea, cutting further supplies
already reduced due to summer maintenance work.

LONDON, Aug 9 (Reuters) – Leading OPEC producer Saudi Arabia
has left supply to Asian and European customers unchanged in
September despite a heavy fall in oil prices in the past week as
global economic growth slows.

Industry sources and traders told Reuters the kingdom would
supply the same volumes of crude to its customers in Asia and
Europe under term contracts in September. Analysts said it was
only a matter of time before Saudi had to cut production as
demand for its oil slows.

LONDON (Reuters) – European refiners are poised for another decade of pain from low profits and run rates as a string of plant sales to emerging market investors only postpone inevitable closures.

Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) has completed the sale of its UK Pembroke plant to U.S. refiner Valero (VLO.N: Quote, Profile, Research, Stock Buzz) while Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) has sold the UK Stanlow complex to India’s Essar as part of a pattern among major oil firms to spin off downstream assets and instead spend revenues from $100 oil on upstream projects.

LONDON (Reuters) – European refiners are poised for another decade of pain from low profits and run rates as a string of plant sales to emerging market investors only postpone inevitable closures .

Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz) has completed the sale of its UK Pembroke plant to U.S. refiner Valero (VLO.N: Quote, Profile, Research, Stock Buzz) while Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) has sold the UK Stanlow complex to India’s Essar as part of a pattern among major oil firms to spin off downstream assets and instead spend revenues from $100 oil on upstream projects.

LONDON, July 19 (Reuters) – Imports of West African crude
from Asian countries are set to rise to 1.59 million barrels per
day (bpd) in August from a near one-year low of 1.40 million bpd
in July as a lack of U.S. demand has left more oil available for
export to other regions.

The August export volume amounts to 52 cargoes, or around
49.4 million barrels, and is the highest export flow since May,
according to the Reuters survey of oil traders.

LONDON 7 (Reuters) – Brent futures surged nearly $4 on Thursday, lifted by a bigger-than-expected fall in U.S. weekly jobless claims and crude stock draws, adding to signs that the economic recovery in the top oil consumer is regaining momentum.

By 1514 GMT, ICE Brent crude futures were $3.92 higher at $117.54 a barrel, after earlier rising over $118 a barrel, leaving Brent on track for the biggest one-day gain since May 9.