Friday 30 January 2015
 
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Petchem prices fall 18pc, biggest drop in 6 years

Global petrochemical prices fell about 18 per cent in December, the biggest month-over-month drop since November 2008, even as energy and naphtha prices continued to slide, according to a report. The prices in the more than $3-tri

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Opec's Al Badri says oil may have hit floor, warns of future spike

Oil prices at current levels may have reached a floor and could move higher very soon, the Organization of the Petroleum Exporting Countries (Opec's) secretary-general said, his first public comment that oil's second-biggest decline on

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KPC chief says expects oil below $100 for next few years

The chief executive of state oil company Kuwait Petroleum Corp, Nizar Al Adsani, said at an energy industry conference that he believed oil prices would remain below $100 a barrel for the next few years.

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Iran slashes oil price in budget to $40 per barrel

Iran is cutting the oil price on which it bases its next budget to $40 a barrel, the semi-official Fars news agency quoted Finance and Economy Minister Ali Tayyebnia as saying on Thursday. "We will revise the oil price in the

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Bapco predicts tough 2015, with plummeting oil prices

Plummeting oil prices may affect Bahrain's decision on whether to expand its only oil refinery next year, a senior oil executive said. He also predicted that growing refining capacity in the region would also squeeze product m

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Opec price war in Asia intensifies as oil falls below $50

Even as Saudi Arabia and its Gulf Opec allies appear united in their refusal to cut output to boost global oil prices, they are becoming locked in an increasingly fierce battle to secure market share in Asia.

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Saudi hit by steel price collapse rumours

Saudi Arabia's construction sector has been hit by rumours that steel prices will collapse shortly because of falling demand, but its industry chief insisted that prices showed only slight decline, according to a report. The s

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Iran sees oil prices at $60 to $90 in coming months

Crude prices will vary between $60 and $90 in the coming months, Iranian Oil Minister Bijan Zanganeh was quoted as saying by the ministry's official Shana website, adding the only lever Opec could us

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Adnoc sells Murban crude at lowest premium in at least a decade

Abu Dhabi National Oil Company (Adnoc) has set the December price for flagship Murban crude at the lowest premium against Dubai quotes in at least a decade, a move that may fuel a price war among oil producers in

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Qatar’s 2016 budget to be based on $55 per barrel of crude

Qatar's budget next year will be based on an assumed oil price of $55 per barrel and a ceiling of allocations for expenditure in the year is likely to be put at QR140 billion ($38.44 billion), according to report. The current

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