Wednesday 26 November 2014
 
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Iran to push for Saudi oil output cut at Opec

Iran will try to persuade Saudi Arabia to cut oil production when the oil ministers from the two Organization of the Petroleum Exporting Countries (Opec) members meet in Vienna, Iran's semi-official Mehr news agency reported citing a television interview with the country's oi

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Oil price seen falling to $60 if Opec does not cut output

Oil prices could plunge to $60 a barrel if the Organisation of Petroleum Exporting Countires (Opec) does not agree a significant output cut when it meets in Vienna, market players say.   Brent crude futures have fallen 34 per cent since June to touch a four-year

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Iran Parliament suggests $75-80 barrel oil price for budget

Iran's parliament recommends basing next year's budget on an oil price of $75-80 a barrel, a senior lawmaker was reported as saying, down from $100 in the 2014 budget plan.   "It seems the trend of decline in oil prices will continue and a return to

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Dow Chemical CEO says not quitting Kuwait, but shifting strategy

US petrochemicals giant Dow Chemical is not pulling out of Kuwait but is shifting strategy, its chief executive said, after the company announced plans to reduce its equity positions in all of its Kuwaiti ventures.   Asked about Dow's strategy in Kuwait, chi

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Dow Chemical 'not quitting Kuwait, shifting strategy'

US petrochemicals giant Dow Chemical Co is not pulling out of Kuwait but is shifting strategy, its chief executive said, after the company announced plans to reduce its equity positions in all of its Kuwaiti ventures. Asked about Dow's strategy in Kuwait, Chief Executive

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Steam generation urged for EOR in Gulf

“With gas becoming increasingly constrained and expensive to produce throughout the Gulf region, governments and national oil companies must consider steam generation for enhanced oil recovery (EOR), said an industry expert. “The economics of steam generation hinge on

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Libya’s Nafoura oilfield set to resume production

Libya's Nafoura oilfield will resume production on Monday after protesters demanding jobs ended a protest, officials at the Libyan state operator said on Sunday. The field in volatile eastern Libya used to produce up to 65,000 barrels a day of oil until local protesters force

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Russia says Saudi Arabia willing to cooperate on oil markets

Russia's Foreign Ministry said that Russia and Saudi Arabia had expressed "a willingness to cooperate on issues related to energy and oil markets".   The foreign ministry made the comments in a statement after a meeting between Russia's and Sau

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Opec panel reviews oil outlook in a start to talks on oversupply

A panel of national representatives reviewed Opec's oil market outlook for 2015, Opec sources said, preparing the ground for a policy-setting meeting Thursday that will decide how to address a looming oversupply of crude.   The Economic Commission Board conc

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Saudi Kayan signs $700m Islamic financing deals

Saudi Kayan Petrochemical Company, an affiliate of Saudi Basic Industries Corporation (Sabic), said it has signed two Islamic financing deals totalling SR2.63 billion ($700 million) . The funds will be used by Kayan to fund an increase in working capital, as well as the completio

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