Tuesday 27 September 2016
 
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reserves

World oil reserves stable despite drop in investment: BP

The world's oil reserves were unchanged in 2015 despite a sharp drop in investment and exploration after the collapse in crude prices, BP said in its benchmark industry report.   Proven oil and gas reserves t

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Arabtec to use $272m reserves to wipe out losses

A meeting of shareholders in Dubai-listed construction firm Arabtec Holding approved on Wednesday a plan to use Dh1 billion ($272 million) of the company's statutory reserves to wipe out some of its accumulated losses. They al

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China FX reserves in record fall

China's foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing's attempts to halt a slide in the yuan and stabilise financial markets following its surprise move to devalue the currency last m

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Saudi June foreign reserves falls 1.2pc

The net foreign reserves at Saudi Arabia's central bank fell to SR2.492 trillion ($664.5 billion) in June, down 1.2 per cent from May to their lowest level since March 2013, central bank data showed on Thursday.  

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Oil majors fail to find reserves to counter falling output

Big oil companies had a poor record of finding and producing oil and gas last year, according to figures out in the past week - and big cuts in spending in response to falling crude prices could undermine their plans to turn that around.

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Basel urges standardised capital model for banks

The Basel global banking supervisory body has proposed introducing a standardised model to calculate a minimum level of capital banks would need to keep in reserve. The so-called capital floor 'will be based on revised standar

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Aramco's oil resources to grow to 900bn barrels by 2025

State oil giant Saudi Aramco expects to have 900 billion barrels of oil resources by 2025, up from the current 790 billion barrels, a company executive said on Tuesday. Current recoverable crude oil and condensate reserves stand a

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Shale revolution boosts US oil reserves to record levels

US exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published this week. Proved reserves of crude stood at 30.5 billion barre

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War-torn Syrian economy to shrink 20pc

  War-ravaged Syria's economy will shrink by a fifth in 2012 and all its foreign reserves could be spent by the end of next year, a global finance industry association said on Monday.   Since th

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Iraq oil exports hit highest level in 3 decades

Iraq's oil exports rose to 2.6 million barrels per day (bpd) on average in September, the highest in more than three decades, compared to 2.565 million bpd in August, an Iraqi oil ministry spokesman said on Monday. Exports fro

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