TIGUENTOURINE, Algeria, Jan 16 (Reuters) - Algeria's Sonatrach plans to send oil abroad for refining as it seeks to lower a fuel bill that reached a record $2.5 billion last year, the head of the state energy firm said on Tuesday.

BARMER, INDIA, Jan 16 (Reuters) - Indian Prime Minister Narendra Modi on Tuesday launched the construction of a $6.8 billion refinery in the western state of Rajasthan, hopeful to lift national capacity to meet the surge in fuel demand.

HOUSTON, Jan 16 (Reuters) - Surging shale oil rig flanges gulf coast production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

WASHINGTON/CARACAS, Jan 16 (Reuters) - The U.S. Treasury Department on Tuesday warned that Venezuela's proposed "petro" cryptocurrency could violate sanctions against the OPEC nation's socialist government, a statement that could dent investor appetite for the soon-to-be-launched token.

Aker BP will pay out $450 million in dividends for 2018, $100 million more than previously indicated.

OSLO, Jan 15 (Reuters) - Norway's Aker BP will pay out $450 million in dividends for 2018, $100 million more than previously indicated, and has "a clear ambition" to raise them by the same amount each year to 2021, the oil BOP Blow Out Preventer repair company gulf coast said on Monday.

(The opinions expressed here are those of the author, a columnist for Reuters.)

LAUNCESTON, Australia, Jan 15 (Reuters) - The standout feature of China's crude oil and product trade data for December was the surge in exports of refined fuels to a record, but it already appears that this dynamic may not be sustainable.

(Bloomberg) -- Husky Energy Inc., the best oil-sands stock last year, may emerge as a top pick for investors who are looking to capitalize on surging crude prices and already have shares of the largest Canadian producers.

Shell confirms that it will redevelop the Penguins oil and gas field in the UK North Sea.

Royal Dutch Shell plc confirmed Monday that it will redevelop the Penguins oil and gas field in the UK North Sea.