Tuesday 28 July 2015
 
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Oil

Oil prices slide on China stocks rout

Oil prices fell to near four-month lows on Monday after a steep drop in Chinese stock markets and on more evidence of a global oil supply glut that has halved prices over the past year. Chinese stocks tumbled more than 8 per cent

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BG Egypt appoints oil veteran as new president

BG Egypt, a subsidiary of BG Group and one of Egypt's largest natural gas producers, has appointed Khaled Kacem as its president, the company said in a statement on Sunday. The firm said Kacem had spent 23 years in the upstrea

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Sabic Q2 net profit falls; but beats forecasts

Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, reported a 4.5 per cent drop in second-quarter net profit on Sunday, a much smaller decline than analysts had forecast. Sabic made a net pr

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Sabic Q2 net profit falls; but beats forecasts

Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, reported a 4.5 per cent drop in second-quarter net profit on Sunday, a much smaller decline than analysts had forecast. Sabic made a net pr

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Oil falls to lowest close since March, down a 4th week

Brent and US crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in US oil drilling rigs applied pressure. US energy firms added 2

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Iraq's oil exports head for another record in July

Iraq's southern oil exports have risen above three million barrels per day (bpd) so far in July, according to loading data and an industry source, setting shipments from Opec’s second-largest producer on course for a monthly record.

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Oil stages 4th weekly drop as China factories slow

Oil prices neared four-month lows on Friday, set for their fourth straight week of declines, after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. Data showing activity i

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Oil prices climb, but stay in bear market territory

Oil prices edged up on Friday after closing at their lowest in months in the previous session as oversupply and disappointing Chinese factory activity dragged on the market. Oil prices in the US have slumped more than 20 per cent

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Algeria trims spending; oil revenues down 50pc

Algeria will trim spending in its 2015 budget by 1.35 per cent as it expects energy earnings to fall 50 per cent due to a slump in oil prices, the government said.   Oil and gas account for 95 per cent of Algeria

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Iranian officials say condensate and fuel oil on ships

As traders speculate over what type of oil is being kept by Iran in floating storage, two Iranian oil officials said that the oil was condensate and fuel oil.   The millions of barrels on ships could be delivered

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