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Bulgaria inks an agreement with Shell for deepwater oil and gas exploration
Bulgaria signed a deal with Royal Dutch Shell on Tuesday to explore for oil and gas in an offshore block in the Black Sea in a bid to end its almost total reliance on Russian natural gas.
read more... 24/02/2016
Rosneft inks an accord with PDVSA to produce gas in Venezuela
Russia's major oil producer Rosneft and Venezuela's state oil firm PDVSA inked a deal to establish a joint venture to develop natural gas in the South American country, as stated by Rosneft on Saturday.
read more... 22/02/2016
UAE to back plan to freeze oil production at January levels
The United Arab Emirates (UAE) will back the initiative of top producers to freeze output levels in case of a deal by OPEC members and Russia, helping to halt a slide in crude prices that has pushed them to their lowest point in more than a decade.
read more... 19/02/2016
Daily: Oil recovers 7% as Iran hails output freeze
Crude oil prices rebounded 7 percent on Wednesday after Iran announced it will support any effort to stabilize oil prices, including Russia- Saudi move to freeze production to deal with the market glut that dragged down prices to their weakest level in a dozen years. Brent rose by $2.32, or 7.2 percent, to settle at $34.50 a barrel. U.S. crude boosted $1.62, or 5.6 percent, to close at $30.66 a barrel.
read more... 18/02/2016
Daily: Brent losses almost 4 % after top producers deal
Brent oil lost almost 4 percent on Tuesday, slashing early gains after top producers Russia and Saudi Arabia agreed to freeze oil output at near-record levels, the first coordinated move by the world’s two largest producers to counter a decline that has hit economies, markets and companies. Brent fell $1.21 to settle at $32.18 a barrel, after increasing earlier to $35.55. U.S. crude declined 40 cents at $29.04, off the day's peak of $31.53.
read more... 17/02/2016