Wednesday 4 March 2015
 
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Oil Prices

Saudi Arabia’s Al-Naimi expects oil market to balance

Saudi Arabian Oil Minister Ali Al-Naimi said on Wednesday he hoped and expected the oil market to balance and prices, which hit a near six-year low in January, to stabilize. In a speech, he said his country was committed to helpin

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Oil plunge slows deposit growth at Gulf banks

Low oil prices are slowing or reversing deposit growth at Gulf Arab banks, but not enough to cause the liquidity squeeze that bankers fear. Deposits from governments, quasi-government bodies and national oil companies provide arou

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MNCs ‘likely to invest in Oman despite cheap oil’

Regional bosses of multinational companies (MNCs) expect to invest in Oman in the coming three years despite lower oil prices, according to the latest briefing from Emerging Markets Intelligence & Research (EMIR). EMIR is a su

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No special meeting before June: Opec

Opec has no plans to hold an emergency meeting before its next scheduled gathering in June, two of the organisation's delegates said on Tuesday. Nigerian Oil Minister Diezani Alison-Madueke told the Financial Times in comments

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Oil ends mixed over US rig count drop

Crude prices ended mixed on Friday as the number of US rigs drilling for oil fell far less than expected this week, while heating oil jumped 6 per cent after severe winter cold crimped output at three refineries. After many bets t

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Oil and gas explorers in Africa ‘must rethink capex’

Oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, said an industry expert. “Oil & gas explorers

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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China to hike oil product exports, add to glut

Beijing has raised the initial volume of oil products that Chinese refiners can export this year, potentially adding to a supply glut just as new processing capacity in the Middle East is expected to pressure fuel prices and depress margins.

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Oil and gas explorers in Africa ‘must rethink capex’

Oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, said an industry expert. “Oil & gas explorers

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Total CEO expects oil price of $60 this year

Oil prices are likely to remain relatively low until the summer, the chief executive of Total was quoted as saying on Wednesday, leading the French oil major to assume an average price of $60 a barrel this year. Talking to the pri

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