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Marathon petroleum plans to merge two refineries in US to boost output

Marathon Petroleum is planning to integrate its two refineries located in Texas, US, aimed at boosting diesel fuel output.

UPDATE 1-Ecuador's Correa says OPEC should call extraordinary meeting

GUAYAQUIL, Ecuador, Feb 24 (Reuters) - Ecuador's President Rafael Correa said on Tuesday he agrees with a proposal for OPEC to call an extraordinary meeting, describing current global prices for crude oil as "unnecessarily" low.

Turquoise Hill to sell remaining stake in Mongolia's SouthGobi

TORONTO, Feb 24 (Reuters) - Turquoise Hill Resources Ltd on Tuesday agreed to sell the remainder of its stake in SouthGobi Resources, in an attempt to finally sever ties with the Mongolian coal miner that was once worth over C$3 billion ($2.4 billion).

UPDATE 2-Obama vetoes Keystone XL pipeline, leaving it in limbo

WASHINGTON, Feb 24 (Reuters) - President Barack Obama on Tuesday, as promised, swiftly vetoed a Republican bill approving the Keystone XL oil pipeline, leaving the long-debated project in limbo for another indefinite period.

UPDATE 2-Continental gets one last boost from sale of oil hedges

WILLISTON, N.D., Feb 24 (Reuters) - Continental Resources Inc posted a fourth-quarter profit well above Wall Street's expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices .

UPDATE 3-Truck strike hits Brazil fuel supplies, soy exports

SINOP, Brazil, Feb 24 (Reuters) - Brazilian truck drivers protesting high fuel prices for a seventh day on Tuesday interrupted supplies of diesel and raw materials across the country and threatened to hold up grains exports at ports in the middle of a record harvest.

Oil companies in Venezuela to use new favorable forex rate -PDVSA

CARACAS, Feb 24 (Reuters) - About a dozen foreign energy companies in Venezuela have been authorized to exchange foreign currency at a new, more advantageous rate in bolivars in order to boost cash flow and speed up projects, a high-level PDVSA source said on Tuesday.

UPDATE 1-First Solar sees lower results as it pursues spin off

Feb 24 (Reuters) - U.S. solar company First Solar Inc on Tuesday reported sharply higher quarterly earnings in part due to the sale of a large California solar power plant to Southern Co.

CSX says West Virginia rail line still shut after derailment

NEW YORK, Feb 24 (Reuters) - A CSX Corp rail line in West Virginia remained shut following an explosive oil train derailment on Feb.

U.S. prepares draft threatening UN sanctions on South Sudan

UNITED NATIONS, Feb 24 (Reuters) - The United States on Tuesday distributed a draft U.N.

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