oil

Iran Plays Hardball with European Oil Buyers, Slowing Exports

By Dmitry Zhdannikov and Alex Lawler LONDON, March 9  – Iran has managed to sell only modest volumes of oil to Europe since the lifting of sanctions seven weeks ago and several former buyers are staying away, citing legal complications and Tehran’s reluctance to sweeten terms to win back customers. Tehran had been unable to

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Oil’s Squeeze Spreads From Gulf States To Banks

By David French and Tom Finn DUBAI/DOHA, March 6 – Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll on the region’s banks too, complicating their efforts to raise capital required by regulators. The impact of crude’s fall from more than $100 to below

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Iran Committed to OPEC’s Oil Output Freeze: Iranian Ambassador to Oman

By Leila Hatoum Muscat (Newsweek Middle East)– A day after Iran’s Oil Minister Bijan Namdar Zanganeh ridiculed a decision by the Organization of the Oil Petroleum Exporting Countries (OPEC) to freeze oil output, the Islamic Republic’s Ambassador to Oman said his country “is committed to OPEC’s oil output freeze decision.” Speaking on the sidelines of Iran’s

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Gulf Arabs Race to Release Youth Potential in Age of Cheap Oil

By Noah Browning DUBAI, Feb 18 – Like the prototype drone of Emirati student Talib Alhinai, the ambitions of young people across the Gulf Arab states need to soar if they – and their economies – are to prosper in the age of cheap oil. The 23-year-old now researching for his Ph.D is just the

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Iran Could Decide Fate of First Global Oil Deal For 15 Years

By Rania El Gamal DOHA/LONDON, Feb 17 – The fate of the first global oil deal in 15 years could be decided on Wednesday when OPEC members travel to Iran to persuade the country to participate in a deal to freeze output levels, possibly by offering Tehran special terms. Dominant OPEC power Saudi Arabia and

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What’s Next?

By Nour Eldeen Al Hammoury Safe Haven Assets in Demand Safe haven assets were the star of the week ending on February 12, as global stocks entered a bearish market phase. But will this demand continue for long? To answer this a question, traders and investors need a fundamental catalyst to reenter the markets and/or

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Oil Powers Fly to Doha for Private Pow-Wow as $30 Crude Woes Mount

Feb 16 – Top oil officials from Saudi Arabia, Russia and several key OPEC members will meet on Tuesday for their highest-level discussion in months, a potentially pivotal sign that producers are at last preparing to tackle a devastating supply glut. The talks in the Qatari capital Doha, which had been kept under wraps until

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Russia Says Improved Iran-Saudi Ties Would Help Oil Prices

MOSCOW, Feb 15 – Russia wants to see improved relations between Iran and Saudi Arabia at a time when joint action is needed to influence global oil prices, the RIA news agency on Monday quoted Zamir Kabulov, a senior official at Russia’s Foreign Ministry, as saying. Russia, one of the world’s top oil producers, has

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Business Outlook: Low Oil Prices, Stretched Finances

BY Leila Hatoum Oman plans to issue international sovereign bonds this year as a way to address its budget deficit, the country’s Undersecretary Minister of Finance Nasser Al Jashmi told Newsweek Middle East in an interview in Abu Dhabi. Lazard, a well-known international financial advisory and asset management firm, has been appointed by Oman to advise

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