Friday 21 November 2014
 
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Alstom wins $59m Saudi power contract

Alstom Grid has been awarded a €47-million ($59 million) turnkey contract by Saudi Electricity Company (SEC) to supply flexible alternating current transmission systems (Facts) in Saudi Arabia. As per the deal, Alstom will supply a Static VAr Compensator (SVC) to the Jeddah

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India's October Iran oil imports rise 60 pc

India bought 60 per cent more Iranian oil in October than a year ago as refiners held to higher volumes despite signs that world powers and Iran might not reach a final agreement on Tehran's disputed nuclear programme before a November 24 deadline.   Six wor

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Kuwait to sell Dow Chemical's petchem venture shares to public

Kuwait plans to offer to the public the shares in Kuwaiti joint ventures which US petrochemicals giant Dow Chemical plans to sell off, state news agency Kuna quoted a senior Kuwaiti executive as saying.   Dow Chemical announced that as part of a $7-$8.5

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Kuwait cabinet calls for steps to address oil price slide

Kuwait's cabinet called for practical steps to address the slide in oil prices at a special session convened to examine weakening energy markets, official media in the petroleum-dependent Opec member country reported.   "They stressed the necessity of i

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Yokogawa unveils new Centum production control system

Yokogawa Electric Corporation has developed Centum VP R6.01, an enhanced version of the company’s flagship integrated production control system, which is set to be released in February next year. R6.01 marks the first step in the development of an all-new Centum VP that wil

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Libya's El Sharara oilfield still closed due to pipeline shutdown

Libya's El Sharara oilfield, which normally produces around 200,000 barrels per day (bpd), remains shut due to its main pipeline being closed, an official from the state-run National Oil Corporation said.   The field, one of the Opec producer's largest,

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Oil slips to $79 as Japan enters recession

Brent crude fell to $79 a barrel on Monday following news Japan, the world's fourth-biggest crude importer, had slipped into recession and after comments from the West's energy watchdog that a return to high oil prices was unlikely soon. The chances of a pick-up in global

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Saudi oil policy 'needs better communications'

By John Kemp   There are strong parallels between the price crisis in 1986 and the 30 per cent decline in oil prices over the last five months. Then, as now, a prolonged period of high prices had damped oil demand, and brought forth a gusher of new supplies.

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Iran oil minister slams producers for not cutting output

Iran's oil minister accused some countries of making up excuses to justify their refusal to stabilise prices by cutting output, a possible reference to Saudi Arabia as a Saudi official insisted the issue should be left to market forces.   "C

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Iran slams oil producers for not cutting output

Iran's oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output, a possible reference to Saudi Arabia as a Saudi official insisted the issue should be left to market forces. "Certain countries had r

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