Thursday 23 October 2014
 
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Khurais, Manifa world's top recoverable reserves

The Khurais and Manifa projects in Saudi Arabia have the most recoverable reserves among the world’s top 100 upstream developments, with approximately 19.4 billion barrels of oil equivalent (boe) and 13.7 billion boe, respectively, according to research and consulting firm GlobalData.

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Sinking oil prices may curb US output too slowly for Saudis

Saudi Arabia effectively started a global oil price war this month aimed at quickly denting US oil output. Slowing a US drilling boom, however, could take more than a year.   Many observers expect a downward spiral of global oil prices to rapidly dampen shale oi

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Saudi Aramco trades first fuel oil derivative on Platts

Saudi Aramco traded its first fuel oil derivative on Platts and is expected to become more active in its paper trading activities, sources said.   Saudi Aramco Products Trading Co (Aramco Trading) sold a November 180-centistoke derivative to Glencore at $466.25

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Kuwait says no impact on output or plans from oil price drop

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said.   Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said the company was continuing its long-term

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Yemen's main oil pipeline attacked, crude flow halted

Tribesmen attacked Yemen's main oil export pipeline, halting the flow of crude, a local official said.   Yemen's oil and gas pipelines have been repeatedly sabotaged by tribesmen feuding with the state, especially since mass protests against

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No impact on plans from oil price drop: Kuwait

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said on Thursday. Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said the company was continuing its long-term plans to

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Oil slide deepens as economic worries mount

Oil fell more than $1 a barrel on Thursday, with Brent crude hitting a fresh four-year low at below $83, as growing concerns over the global economy stretched a four-month rout. Brent has lost more than 28 per cent since June amid slow demand and abundant supply, with losses acce

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