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Oil falls $1 below $37 as demand worries linger

PERTH - Oil fell more than $1 a barrel to its lowest in more than two weeks on Tuesday, extending a near 8 percent overnight loss, as investors grew more pessimistic about energy demand on signs the world economy will slow down sharply. Worsening recessionary signs forced ...

PKN Q4 results hit by cheap oil, weak zloty-paper

WARSAW, Jan 13 - Poland's top oil refiner PKN Orlen's PKNA.WA results in the fourth quarter were negatively impacted by lower oil prices and weaker zloty, the company's CEO Jacek Krawiec was quoted as saying on Tuesday. Krawiec also said the company which now owns 90 percent of ...

Nigerian oil militants threaten to end ceasefire

PORT HARCOURT, Nigeria - The main militant group in Nigeria's oil-producing Niger Delta threatened on Wednesday to end its ceasefire and attack military targets in retaliation for the killing by soldiers of a gang leader. "MEND has decreed today every soldier in uniform inside ...

Thai Oil sees lower sales in 2009, plans bond sales

BANGKOK - Top refiner Thai Oil TOP.BK said on Thursday that falling average selling prices, hit by lower global crude oil prices, would drag its 2009 sales lower. The company, which expects to report results in mid-March, also plans to sell 5 billion baht ($143 million) bonds in ...

Crude prices rebound slightly

NEW YORK, Jan. 13 -- Crude prices rebounded slightly on Tuesday after U.S. Federal Reserve Chairman Ben Bernanke said the stimulus package could boost economy. Bernanke said in London on Tuesday that the possible U.S. stimulus package could provide a significant boost to economic ...

U.S. defends its new Arctic policy, eyes more international cooperation

WASHINGTON, Jan. 13 -- The Bush administration Tuesday defended its new Arctic policy, voicing a willingness to cooperate with other countries to address both the challenges and opportunities in the Arctic. "States safeguard their national security interests in numerous ways, ...

Oil sands on agenda for Obama's Canada visit

TORONTO - Canada's oil sands, a vast potential oil source that critics say comes at a big environmental cost, will be on the agenda when Barack Obama visits Canada on his first foreign trip as U.S. president, Prime Minister Stephen Harper said on Tuesday. Harper told a Calgary ...

Cairn India gets approval to develop more finds

MUMBAI, Jan 19 - Energy explorer Cairn India (CAIL.BO), a unit of UK's Cairn Energy (CNE.L), said on Monday it had received government approval to develop more oil and gas discoveries in the western Indian state of Rajasthan. The government has approved to commercially develop ...

Oil is weapon against Israel, U.S., says Iranian aide

TEHRAN - An aide to Iran's top authority said Wednesday oil could be used as a weapon against Israel, the United States and their allies, echoing an earlier call by an Iranian commander to impose a crude oil embargo over Gaza. Iran, OPEC's No. 2 oil producer, has said in the past ...

Brazil's Petrobras to invest $6 bln in cleaner diesel

RIO DE JANEIRO, Jan. 13 -- Brazil's oil and gas giant Petrobras said Tuesday that it will invest 6 billion U.S. dollars in cleaner diesel production. About 4 billion dollars will be invested in the production of S-50 diesel fuel from 2009 to 2012, said the state-owned company. ...

Russian economy may stall in 2009 - finmin

HONG KONG, Jan 19 - Russia's economy may not grow at all this year as it feels the impact of the financial crisis and the government will probably increase support for banks to ensure their liquidity, its finance minister said on Monday. With the government's gross domestic ...

Obama says economy will worsen, even with stimulus

BEDFORD HEIGHTS, Ohio - Just days before his inauguration, President-elect Barack Obama on Friday warned Americans to expect even rougher economic times and said his plan to revive the struggling economy would take time to work. "Recovery is not going to happen overnight," he ...

China Merchants Energy Q4 net profit dives 74 pct

SHANGHAI, Jan 17 - Profit at China Merchants Energy Shipping Co (601872.SS), the country's biggest oil carrier, sank 74 percent in the fourth quarter of last year as the shipping market slowed. Net profit tumbled to 34.33 million yuan ($5.0 million) from 132.92 million yuan in ...

Serb gas monopoly to borrow $270 mln

BELGRADE, Jan 15 - Serbia's Srbijagas gas monopoly will have to borrow $270 million in the coming months to make up for the cost of alternative supplies from Western Europe, as the energy row between Russia and Ukraine entered a second week. "That ($270 million) is an estimate of ...

Singapore non-oil domestic exports drop 7.9% in 2008

SINGAPORE, Jan. 16 -- Singapore's key non-oil domestic exports (NODX) declined by 7.9 percent in 2008 due to lower electronic and non-electronic exports, the government data showed on Friday. Electronic NODX contracted by 12 percent in 2008 while non-electronic NODX decreased by ...

Russian and Ukrainian PMs to hold talks on gas row

MOSCOW/KIEV - The Russian and Ukrainian prime ministers plan to meet in Moscow on Saturday to try to resolve a gas row that has cut supplies to a freezing Europe. A minister of the Czech Republic -- current holders of the rotating presidency of the European Union -- said there ...

OPEC again cuts 2009 world oil demand forecast

LONDON - World oil demand will contract more than expected this year and the weakening economy may further erode consumption, OPEC said on Thursday, building a case for additional supply cuts. In a monthly report, OPEC said it expected demand to fall by 180,000 barrels per day ...

BRIEF-DNO says Dec output at 5,294 barrels/day

OSLO, Jan 20 - DNO International (DNO.OL) said: * Its net entitlement production in Yemen amounted to 5,294 barrels of oil per day in December. In the fourth quarter it stood at 5,344 barrels per day, up from 5,122 in the third. Year-to-date production in 2008 amounted to 5,937 ...

Oil falls 5 percent on sagging demand outlook

NEW YORK - Oil prices fell more than 5 percent on Thursday as thickening economic gloom added to worries world energy demand will keep shrinking this year. U.S. crude fell $1.88 to settle at $35.40 a barrel, after falling as low as $33.20 -- the lowest since December 19. London ...

Asian stocks slide on global banking fears

HONG KONG, Jan 20 - Asian shares slumped on Tuesday on concerns that increasing woes in the global financial sector will deepen the world's economic downturn, highlighting the difficulties confronting incoming U.S. President Barack Obama. The tumble came after Royal Bank of ...
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