Friday 19 September 2014
 
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Oil

Iraq oil export revenue falls to $7.1 billion for August

Iraq's oil exports generated $7.1 billion of revenue in August, down from $7.8 billion in July, the Iraqi oil ministry said in a statement. Oil exports were at 73.6 million barrels for August, the oil ministry said, citing the

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How Islamic State uses Syria's oil to fuel its advances

In an oil field in northeastern Syria, a queue of trucks lines up daily to load crude sold cheaply by Islamic State militants who have hijacked parts of the country's energy industry in their bid to build a caliphate. Sales at

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Iraqi Kurdistan oil heads to Asia; region in talks with China

At least 3 million barrels of Iraqi Kurdish oil are on ships heading to Asia, with trade sources naming China as a possible destination as the autonomous region expands efforts to establish independent oil sales in defiance of Baghdad.

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Cheaper oil no big threat to Gulf economies

Falling oil prices may prove the best medicine for economies in the Arab world, rebalancing growth towards countries struggling to recover from the Arab Spring uprisings without doing major damage to the oil exporters of the Gulf.

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Saudi July oil exports steady, power use offsets higher output

Saudi crude exports remained steady in July as oil use in the country's power sector surged to a near record high, offsetting higher output, official data showed.   The world's top oil exporter and Opec h

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Shell Lubricants launches new motor oil

Shell Lubricants in the Middle East, Central Asia and Pakistan, has launched a next generation motor oil, Shell Helix Ultra with Shell PurePlus Technology, featuring a base oil developed from natural gas. The launch event took pla

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Shell Lubricants launches new motor oil

Shell Lubricants in the Middle East, Central Asia and Pakistan, has launched a next generation motor oil, Shell Helix Ultra with Shell PurePlus Technology, featuring a base oil developed from natural gas. The launch event took pla

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Oil, gold plunge to new lows on strong dollar

Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase. Poor demand and abundant s

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Russia's energy minister to meet Opec as oil price falls more

Russian Energy Minister Alexander Novak will meet the Organization of the Petroleum Exporting Countries (Opec) officials in Vienna, his spokeswoman said, as oil's price fall piled pressure on Moscow's budget.  

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Oil steady below $98, capped by weak demand

Brent crude was little changed just below $98 a barrel on Tuesday, holding gains after recovering from its lowest price in more than two years but capped by a soft global economic outlook. Data reflecting lacklustre manufacturing

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