Chevron Starts California Refinery Crude Unit, Flares Sulfur, State Says

(Bloomberg) -- Chevron Corp., the second-largest
U.S. oil company, reported that it flared sulfur oxide during
plant startup at its refinery in El Segundo, California.

The flare occurred at about 12:57 p.m. yesterday, San
Ramon, California-based Chevron said in a filing on a state of
California Web site. A refinery spokesman wasn't immediately
available to comment on the incident.


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Chevron-Led Caspian Pipeline Group Faces $290 Million Russian Tax Claim

(Bloomberg) -- The Chevron Corp.-led Caspian
Pipeline Consortium received a $290 million back-tax claim from
Russian authorities for 2004 and 2005.

The venture is challenging the claim alongside similar
back-tax claims for previous years in the Moscow City Court,
Olesia Kuznetsova, a spokeswoman for the Caspian Pipeline
Consortium, said by phone in Moscow today. The claim was levied
by Russia's Federal Tax Service, she said.


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Oil Rises to 11-Month High as North Sea Output Declines on Closed Pipeline

(Bloomberg) -- Crude oil rose to an 11-month high
in New York and London after a pipeline shutdown and maintenance
work reduced North Sea Brent oil production.

Chevron Corp. and ConocoPhillips said they lost output from
North Sea fields that produce oil and gas after BP Plc closed
the pipeline. BG Group Plc said its Armada oil field in the
North Sea has been shut for maintenance since June. The
International Energy Agency said in a report today that global
oil demand will rise 2.5 percent next year.


Read more at Bloomberg Commodities News

Oil Declines as Traders Conclude Gains to Nine-Month High Were Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some traders speculated recent gains that
followed unrest in Nigeria were unjustified.

Nigeria's two main oil unions said yesterday they planned to
join a general strike scheduled to start tomorrow. In addition,
Chevron Corp. and Eni SpA reported raids on facilities in the West
African nation, Africa's biggest oil producer.


Read more at Bloomberg Commodities News