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US refiners face soaring stocks as gasoline grades switch

US gasoline stocks have reached record highs in 2016, while prices have flirted with unprecedented lows. What could happen as the market shifts to summer-grade gasoline?

CORRECTED-UPDATE 1-Record production, high refining margins curb Total profit fall

PARIS/LONDON, Feb 11 (Reuters) - Record upstream production and high refining margins in Europe helped Total report better-than-expected fourth-quarter net profit but the company said it planned to cut costs and reduce spending further due to prolonged low oil prices.

UPDATE 2-Rio Tinto ditches boom time payout policy as profit plunges

* Aims to cut $2 bln in costs over two years (Adds analyst comments)

RPT-Crowded insurance industry becomes latest casualty of oil slump

* Insurance drew new investors due to ultra-low interest rates

UPDATE 2-Bilfinger beats fourth quarter forecasts as it mulls break-up

* Shares indicated up 1 pct, outperforming lower market (Adds share indication, analyst comment, details on activist investor)

UPDATE 1-Glencore steps up debt-reduction plan, reports drop in copper output

LONDON, Feb 11 (Reuters) - Glencore has taken another step to reduce its debt by selling $500 million of future precious metals output and reported a drop in production of its most lucrative product, copper.

Namibia aims to pass new mining empowerment laws by April 2017-minister

CAPE TOWN, Feb 11 (Reuters) - Namibia wants new laws passed within a year compelling mining firms to have a minimum 20 percent stake reserved for the black majority, before issuing or renewing prospecting and mining licences as part of an empowerment drive to fight poverty, the mines minister said on Thursday.

SE Asia economies set for squeeze as big firms line up spending cuts

BENGALURU/HONG KONG, Feb 11 (Reuters) - As profits sag and debt mounts, more Southeast Asian firms are set to join the likes of Malaysian oil giant Petronas in cutting capital expenditure, casting a cloud over economic growth in a region better known as a development hotspot.

CORRECTED-RPT-COLUMN-Australia's tough miners want government help; shouldn't get it: Russell

LAUNCESTON, Australia, Feb 10 (Reuters) - - When the going gets tough, the tough ask for tax relief.

Initial production rates in tight oil formations continue to rise

(Thu, 11 Feb 2016) Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA's Drilling Productivity Report (DPR), and made up more than half of total U.S. oil production in 2015. Tight oil growth has been driven by increasing initial production rates from tight wells in regions analyzed in the DPR. As drilling techniques and technology improve, producers are able to extract more oil during the initial months of production from new wells.

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