Friday 27 March 2015
 
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Mideast OFS spend to recover as oil prices rise

Middle East and Asia, the onshore dominated regions, is set to see a recovery in expenditure as oil prices rise, due to the sensitivity of onshore driving activity to changes in oil price, according to a recent forecast. The Dougl

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Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil trade

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Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil trade

More…

Bahrain cbank warns borrowing in the face of oil price

The Central Bank of Bahrain (CBB) has warned that borrowing in the face of oil price drop and the absence of a plan to reduce deficit, will have an adverse impact on the kingdom’s economic stability. With increased governmen

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Oil plunge 'won't affect projects' in Bahrain

Bahrain’s Energy Minister Dr Abdulhussain Mirza has said that short-term volatility in oil prices will not affect the kingdom’s future power projects. He was speaking as he attended the inauguration of Bahrain Informat

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Opec says low oil prices may hit US output by late 2015

US oil output could start to take a hit by late 2015, the Organization of the Petroleum Exporting Countries (Opec) said, suggesting the exporter group will have to wait beyond its next meeting in June to see if the oil price collapse is beginn

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Adnoc sells naphtha below market rate from Ruwais

Abu Dhabi National Oil Co (Adnoc) has sold about 125,000 tonnes of naphtha to Vitol at premiums that were at least $10 below the market rate of $28 a tonne to Middle East quotes on a free-on-board (FOB) basis, traders said on Friday.

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Emirates Airline expects drop in annual fuel costs

Dubai's Emirates Airline expects lower oil prices to translate into fuel savings in the financial year ending this month but is braced for foreign exchange hits in markets such as Europe, India and Russia, its chief operating officer said.

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Oil plunge 'posing big economic challenges'

The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, a senior Saudi Aramco executive has said.

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Iran would sell more oil if Western sanctions lifted

Iran said oil prices would not rise above $60 a barrel until 2016 and that it would increase crude exports if Western sanctions over its nuclear programme were lifted, the semi-official Mehr news agency reported on Friday. "W

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