Wednesday 22 October 2014
 
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Khurais, Manifa world's top recoverable reserves

The Khurais and Manifa projects in Saudi Arabia have the most recoverable reserves among the world’s top 100 upstream developments, with approximately 19.4 billion barrels of oil equivalent (boe) and 13.7 billion boe, respectively, according to research and consulting firm GlobalData.

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Sinking oil prices may curb US output too slowly for Saudis

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting US oil output. Slowing a US drilling boom, however, could take more than a year.   Many observers expect a downward spiral of global oil prices to rapidly dampen shale oi

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Saudi Aramco trades first fuel oil derivative on Platts

Saudi Aramco traded its first fuel oil derivative on Platts and is expected to become more active in its paper trading activities, sources said.   Saudi Aramco Products Trading Co (Aramco Trading) sold a November 180-centistoke derivative to Glencore at $466.25

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Kuwait says no impact on output or plans from oil price drop

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said.   Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said the company was continuing its long-term

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Yemen's main oil pipeline attacked, crude flow halted

Tribesmen attacked Yemen's main oil export pipeline, halting the flow of crude, a local official said.   Yemen's oil and gas pipelines have been repeatedly sabotaged by tribesmen feuding with the state, especially since mass protests against

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No impact on plans from oil price drop: Kuwait

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said on Thursday. Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said the company was continuing its long-term plans to

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Oil slide deepens as economic worries mount

Oil fell more than $1 a barrel on Thursday, with Brent crude hitting a fresh four-year low at below $83, as growing concerns over the global economy stretched a four-month rout. Brent has lost more than 28 per cent since June amid slow demand and abundant supply, with losses acce

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Dubai Petroleum finds gas in deepest ever Dubai well

Dubai Petroleum Establishment (DPE) owned 100 per cent by the Government of Dubai and responsible for Dubai's offshore oil and gas development and production, has identified significant volumes of gas in its T-02 deep gas exploration well.   The high pressur

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UAE asks oilfield bidders for two-month offer extension

The UAE has asked bidders for its biggest onshore oilfields to extend their offers by two months until December 31, sources familiar with the matter said, as the country considers bringing in Asian firms after decades-long partnerships with western majors.   Nin

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In shift, Opec price hawk Iran says can live with lower oil

Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf Opec members and reducing the likelihood of any collective cut in Opec output to support prices.   Opec's traditionally second-l

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