Friday 29 August 2014
 
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reserves

Shale revolution boosts US oil reserves to record levels

US exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published this week. Proved reserves of crude stood at 30.5 billion barre

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War-torn Syrian economy to shrink 20pc

  War-ravaged Syria's economy will shrink by a fifth in 2012 and all its foreign reserves could be spent by the end of next year, a global finance industry association said on Monday.   Since th

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Iraq oil exports hit highest level in 3 decades

Iraq's oil exports rose to 2.6 million barrels per day (bpd) on average in September, the highest in more than three decades, compared to 2.565 million bpd in August, an Iraqi oil ministry spokesman said on Monday. Exports fro

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Egypt's foreign reserves rise by $705m

  Egypt's foreign reserves increased by $705 million in August, resuming their rise after having fallen the month before, the central bank said on Sunday.   Net international reserves rose to $1

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Egypt economy on 'life support'

  Egypt is getting closer to the brink. A trickle of aid has been enough to keep the economy on life support since the uprising 18 months ago, but the ongoing tussle between the country's military and its Islamist president i

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China cbank cuts reserves to boost economy

China's central bank cut the amount of cash that banks must hold as reserves on Saturday, pumping out more funds that could be used for lending to head off sharper slowdown in the world's second-largest economy. The People's Bank of China

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Saudi net foreign assets 'could be worth $600bn'

The combined net foreign assets of Saudi entities (including government, companies and individuals) are estimated to be around $600 billion at the end of 2011, a report said. Recent data shows that the combined foreign assets of the S

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UK has vast shale gas reserves, geologists say

Britain may have enough offshore shale gas to catapult it into the top ranks of global producers, energy experts now believe, and while production costs are still very high, new US technology should eventually make reserves commercially viable.

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Saudi to maintain oil supply if US draws stocks

Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said. US Secretary of State Hillar

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Consumers plot emergency oil release

Saudi Arabian Oil Minister Ali al-Naimi mounted his most direct rhetorical attack against high oil prices on Wednesday, but showed no sign of moving to increase supplies even as France joined the United States and Britain in talks for a release of

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