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Siraf begins construction of $2.8bn oil refinery in Iran

Siraf Refineries Infrastructure has started construction of $2.8bn Siraf oil refinery in Assaluyeh near the South Pars offshore gas field in Iran.

UPDATE 1-CNRL says fire-affected output in Alberta oil sands to return this week

World Fuel Services to pay $110 mln in Lac-Megantic settlement

June 8 (Reuters) - World Fuel Services Corp has agreed to contribute $110 million to a compensation fund for victims of the Lac-Megantic rail disaster as part of a settlement with the Montreal, Maine and Atlantic Railway and its bankruptcy trustees.

Iraqis make progress against Islamic State in Baiji -Pentagon

WASHINGTON, June 8 (Reuters) - Iraqi forces backed by U.S.-led coalition air strikes have opened supply lines into Baiji town and its nearby oil refinery, making progress at last against Islamic State rebels in a seesaw battle that has gone on for months, the Pentagon said on Monday.

UPDATE 1-Century-old Guyana-Venezuela border spat flares after Exxon find

GEORGETOWN, Guyana, June 8 (Reuters) - Guyana's new government attacked on Monday a territorial decree by Venezuelan President Nicolas Maduro as an attempt to annex its waters following an oil discovery.

After oil price drop, Algeria tries to boost food crops

SIDI RACHED, Algeria, June 8 (Reuters) - At Ahmed Bekhi's cereal farm outside Algiers, there are clear signs of Algeria's campaign to increase food production to help curb billions of dollars in imports and offset a sharp fall in world oil prices.

Albania delays onshore oil blocks offer by a month

TIRANA, June 8 (Reuters) - Albania delayed by a month to mid-July the bidding for companies keen to explore for oil and gas on five onshore blocks and indefinitely for two offshore blocks, officials said on Monday.

US oil production picking at OPEC's problems

The US isn't a part of OPEC, but its shale oil boom were still on people's minds at the conference and summit.

UPDATE 2-HK regulator warns on Goldin Properties ownership structure

* CFO says Goldin Properties in good financial health (Adds Goldin Properties comment)

Russia ramps up motor fuel sales to Ukraine, regardless of conflict

By Damir Khalmetov and Anna Bondarenko MOSCOW, June 8 (Reuters) - Russian companies, spurred by healthy profits, have sharply raised sales of vital motor fuel to Ukraine this year, while at the same time also supplying the area of the country held by pro-Moscow separatists. Liquefied Petroleum Gas (LPG) use in Ukraine as a much cheaper alternative to gasoline rose 17 percent in 2014 from the previous year.

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