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Nuclear accord creates potential for additional crude oil production from Iran

(Thu, 13 Aug 2015) On July 14, the P5+1 (the five permanent members of the United Nations Security Council and Germany) and Iran announced an agreement that could result in relief from United States and European Union nuclear-related sanctions (which include some oil-related sanctions). If the agreement is implemented and sanctions relief occurs, it will put additional Iranian oil supplies on a global market that has already seen oil inventories rise significantly over the past year.

UPDATE 1-Oil prices steady after U.S. stock draw, but China outlook drags

* China's economy expected to weaken further (Adds comment, updates prices)

UPDATE 1-S.Korea pardons SK Group leader amid growing discontent over chaebol

* SK Group Chairman Chey Tae-won had been serving 4-yr jail term

S.Korea grants pardons to SK Group chairman Chey, others

SEOUL, Aug 13 (Reuters) - South Korea granted pardons on Thursday to 6,527 people including Chey Tae-won, chairman of the SK Group, the country's third-largest conglomerate, the justice minister said, citing in part Seoul's efforts to revive a sputtering economy.

Chinese port operating as normal despite massive explosions, official says

SHANGHAI, Aug 13 (Reuters) - The northeastern Chinese port of Tianjin is operating as normal after two massive explosions ripped through an industrial area nearby overnight, a port official said on Thursday.

Shunfeng takes majority stake in U.S. solar manufacturer Suniva

LOS ANGELES, Aug 12 (Reuters) - Shunfeng International Clean Energy Ltd said it will take a majority stake in U.S. solar panel manufacturer Suniva to gain a foothold in the fast-growing U.S.

Oil prices steady after U.S. stock draw, but China outlook drags

SINGAPORE, Aug 13 (Reuters) - Oil prices were steady early on Thursday, supported by lower U.S. stockpiles and a firm demand outlook, but worries over China's economy continued to weigh.

U.S. WCoast Products - Los Angeles wholesale gasoline backs down

SAN FRANCISCO, Aug 12 (Reuters) - Los Angeles wholesale gasoline differentials for August delivery declined on Wednesday for the first time this week as refineries stopped buying in the market, traders said.

UPDATE 1-QGEP says Brazil Manati field holds 13.5 bln cubic meters of gas

(Adds additional certification data, production-potential table) RIO DE JANEIRO, Aug 12 (Reuters) - Queiroz Galvão Exploração e Produção SA said on Wednesday that the Manati offshore oil field in Brazil holds 13.5 billion cubic meters (477 billion cubic feet) of proven and probable, or "P2", natural gas reserves. The reserves, certified by Houston-based Gaffney, Cline Associates, will allow production potential of 6 million cubic meters of natural gas a day in 2015 and 2016, falling t

PES FCCU shutdown at Phila. refinery may be linked to compressor -source

Aug 12 (Reuters) - A faulty compressor may be to blame for a shutdown at the 88,000-barrel-per=day (bpd) gasoline-making fluid catalytic cracking unit (FCCU) at Philadelphia Energy Solutions' 335,000-bpd plant in Philadelphia, a source familiar with plant operations said on Wednesday.

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