Tuesday 2 September 2014
 
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Oil

Iraq oil exports average 2.375 mbpd in August

Iraq’s oil exports fell in August to an average of 2.375 million barrels per day (mbpd) from 2.442 mbpd in the previous month, officials from the state-run South Oil Company (SOC) said.   Iraq exports the b

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Disputed Kurdish oil tanker reappears off Texas coast

A tanker carrying disputed Iraqi Kurdish crude oil reappeared on satellite tracking near Texas, days after having gone silent with a $100 million cargo, but the latest vessel data showed it had not offloaded at sea.  

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Oil higher on Ukraine tensions, US data

Crude oil prices posted their second straight monthly losses, despite rising on Friday on worries that the intensifying Ukraine crisis may trigger more sanctions and as US economic data portended strong demand in the world's largest oil cons

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Iran's non-oil trade hits $41.6bn

Iran's non-oil trade turnover exceeded $41.62 billion during the five-month period from March 21, up 32 per cent as compared to the country’s foreign trade during the same period. The non-oil exports were $19.63 billion

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Brent price drops to lowest in 14 months

Weak demand, combined with more than enough oil production, caused the Brent oil price to drop below $100 per barrel (bbl), the lowest level in 14 months, according to a report. Iraqi Kurdistan increased oil production and Libya a

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Dearth of oil finds threatens long-term supplies

Explorers are finding so little oil, many are retreating from high-risk frontier areas to safer bets like North American shale, executives at a major Norway oil conference said. This will likely force them to buy expensive discoveries once inv

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Saudi crude exports fall as domestic demand rises

Saudi crude exports fell in June to their lowest levels in almost three years as oil use in the country's power sector rose and local refineries processed high volumes, official data showed.   The top oil exp

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Iran delays London oil conference

Iran has postponed by three months a conference to offer multinationals the rights to develop oil deposits, giving time for sanctions on the country's oil sector to be lifted, a senior official said. "We want to provide for all

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Sinopec shortlists bidders for $20bn retail stake

State-run Chinese oil giant Sinopec Corp has shortlisted 37 bidding consortia for an up to 30 per cent stake in its massive fuel retail unit and plans to choose a winning bidder by end-September, its chairman said. "The reaction fr

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Refracking brings 'vintage' oil and gas wells to life

A fracking boom isn't enough for US oil and gas producers - they're now starting the re-fracking boom. Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil rev

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