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  • FILE PHOTO - A logo of a Petronas fuel station is seen against a darkening sky in Kuala Lumpur

    Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion (804.57 million pounds) as it seeks to raise cash and cut development costs, two sources familiar with the matter said. Petroliam Nasional Bhd (Petronas) is looking to sell …

  • BERLIN (Reuters) - Greece will need less in emergency loans from international lenders than originally agreed in its third bailout programme due to a better-than-expected budgetary developments, the head ...

  • Oil rises, but U.S. drilling drags on prices Reuters - 1 hour 18 minutes ago
    General view of Sheaiba oil refinery in Basra

    Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, (are) both proving incredibly …

  • Oil rises, but U.S. drilling drags on prices Reuters - 1 hour 19 minutes ago
    A pump jack is seen at sunrise near Bakersfield

    Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance. "Sustained gains above $55 a barrel, and a hoped for rally to $60 a barrel, (are) both proving incredibly …

  • File photo of gold bullion is displayed at Hatton Garden Metals precious metal dealers in London

    Spot gold had inched down 0.1 percent to $1,233.61 per ounce by 0538 GMT, while U.S. gold futures fell 0.4 percent to $1,234.8. "We expect muted trading to start the week in Asia with a U.S. holiday today, although a break in gold of $1,231 may flush away some nervous long positions," said Jeffrey Halley, senior market …

  • Debt-saddled Mongolia agrees $5.5 bn IMF bailout

    Heavily dependent on copper exports, Mongolia's economy grew by 1.0 percent in 2016

  • Japan returns to trade deficit in January

    Japan's trade deficit was the first since August and marked a sharp reversal from a surplus of 640 billion yen in December

  • Japan's national flag is seen in front of containers and cranes at an industrial port in Tokyo

    Japan's exports rose in January at a slower pace than the previous month due to a decline in shipments to the U.S. and the Lunar New Year holidays and as concerns about growing trade protectionism cast doubts over the outlook. Exports in January rose 1.3 percent from the same period a year ago, less than the median estimate …

  • Global arms trade highest since Cold War: study

    Between 2012-2016, arms imports in terms of volume by countries in Asia and Oceania accounted for 43 percent of global imports, a 7.7 rise compared to the previous 2007-2011 period

  • Military aircraft fly in formation as fireworks explode at the International Defense Exhibition and Conference, known by the acronym IDEX, in Abu Dhabi, United Arab Emirates, Sunday, Feb. 19, 2017. (AP Photo/Jon Gambrell)

    ABU DHABI, United Arab Emirates (AP) — Fighter jets screaming overhead and theatrical explosions marked the opening of an arms show Sunday in Abu Dhabi, as a bullet-scarred Emirati armored personnel carrier served as a reminder of the country's ongoing military campaign in Yemen.

  • The largest shareholders of Vale SA have decided to dissolve an investment holding company through which they controlled the world's biggest iron ore producer for 20 years, newspaper O Globo reported on Sunday. The decision, amid ongoing efforts to renew a shareholder accord, would allow the individual shareholders to …

  • FILE PHOTO: Visitors walk past Ford cars at a dealership in Moscow

    Ford has become the first major foreign carmaker in Russia to see sales grow after three bad years, potentially vindicating its decision to double down on a notoriously volatile market when rivals decided to cut and run. Sales of cars in Russia have fallen by more than half since a 2012 peak of 2.9 million vehicles, due …

  • China's oil giant CNPC signs $1.77 bn Abu Dhabi deal

    People walk by the headquarters of the China National Petroleum Corporation in Beijing

  • The United Arab Emirates' main state oil company has signed a deal giving China National Petroleum Company an 8 percent stake in a major onshore oil project. The Abu Dhabi National Oil Company says CNPC ...

  • A general view of Tawke oil field north of Baghdad

    Iraq's oil reserves have increased to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabar al-Luaibi said on Sunday. Iraq will ask the Organization of the Petroleum Exporting Countries to adopt the new figure as the official estimate for its reserves, he said in a statement. The increased …

  • DUBAI, United Arab Emirates (AP) — Saudi oil giant Saudi Aramco says one person has been killed and three others injured as a result of an oil pipeline leak in the east of the kingdom.

  • Ford (F.N) has become the first major foreign carmaker in Russia to see sales grow after three bad years, potentially vindicating its decision to double down on a notoriously volatile market when rivals decided to cut and run. Sales of cars in Russia have fallen by more than half since a 2012 peak of 2.9 million vehicles, …

  • Iraq reports increased oil reserves of 153 bln barrels

    Iraq has the world's fifth largest oil reserves behind Venezuela, Saudi Arabia, Canada and Iran

  • Firefighters knock down blaze at California oil refinery Associated Press - Sat, Feb 18, 2017 23:09 GMT

    TORRANCE, Calif. (AP) — An explosion and fire erupted Saturday at a California oil refinery, exactly two years after a blast that crippled the plant and led to higher gasoline prices, authorities said.

  • State oil giant Saudi Aramco said on Saturday it had contained a "limited" oil leak from one of its pipelines near Abqaiq that had caused the death of a contractor and injured three other people, including an Aramco employee. Aramco gave no details on the cause of the leak but said in a statement that it would conduct …

  • Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday. "Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels …

  • Gulf Arab states are poised to continue to spend billions of dollars on defence despite low oil prices causing severe budget deficits forcing Gulf States to introduce austerity measures and cut spending. Saudi Arabia's total defence budget is forecast at $82 billion (66 billion pounds) in 2016, steadily rising to $87 billion …

  • China is closely following U.S. President Donald Trump's plans to create more domestic jobs by encouraging U.S. companies to bring home or "reshore" their overseas production, but the government will not change its overall strategy, Industry Minister Miao Wei said on Friday. "Regarding President Trump's efforts to revitalise …

  • Report: Islamic State group's 'business model' near collapse Associated Press - Sat, Feb 18, 2017 01:52 GMT
    A worker carried aid supplied at a camp for people displaced by fighting between security forces and Islamic State militants east of Mosul, Iraq, Wednesday, Feb. 15, 2017. The United Nations says they are temporarily pausing aid operations to neighborhoods in eastern Mosul retaken from the Islamic State group for security reasons as IS insurgent and counter attacks continue to inflict heavy civilian casualties there.(AP Photo/Bram Janssen)

    The Islamic State group is hemorrhaging money with every piece of territory it loses, according to a new analysis that found that the group's "business model" is on the path to failure.

  • Chile store owners lament end of miners' bonus culture Reuters - Fri, Feb 17, 2017 23:38 GMT

    In the dusty mining city of Antofagasta in northern Chile, the copper miners are not the only ones lamenting the end of the commodities boom - and the juicy bonuses that went with it. Businesses in Antofagasta - from retailers of cars and luxury cruises to taxis and restaurants - formerly enjoyed windfalls every time miners …

  • Anglo to suspend copper mining at El Soldado in Chile Reuters - Fri, Feb 17, 2017 22:39 GMT
    The Anglo American logo is seen in Rusternburg

    Anglo American PLC (AAL.L) will temporarily suspend operations at its El Soldado copper mine in Chile after failing to receive regulatory approval for a redesign that would have helped keep output flowing, the company said on Friday. Chilean mining regulator Sernageomin has rejected the permit request for the redesign, …

  • Freeport declares force majeure at Indonesia copper mine Reuters - Fri, Feb 17, 2017 21:41 GMT

    Freeport-McMoRan Inc (FCX.N) said on Friday it cannot meet contractual obligations for copper concentrate shipments from its Grasberg mine in Indonesia following a five-week export ban, the second big producer in a week to declare force majeure. Production at Freeport's giant mine in Papua, Indonesia, came to a standstill …

  • A pump jack is seen at sunrise near Bakersfield

    Oil prices ended steady on Friday but lower on the week, with U.S. crude notching its first weekly decline in five weeks, as the market weighed rising U.S. drilling and record stockpiles against efforts by major producers to cut output to reduce a global glut. U.S. energy companies added oil rigs for a fifth straight week, …

  • Kineticor, a small privately held power producer, has partnered with one of Canada's largest pension funds to buy a half-finished oil sands power plant in northern Alberta that was part of an abandoned Royal Dutch Shell (RDSa.L) project, the company said on Friday. Alberta-based Kineticor said it had closed the acquisition …

  • Grain mostly lower, livestock higher Associated Press - Fri, Feb 17, 2017 20:59 GMT

    Grain futures were mostly lower Friday on the Chicago Board of Trade. Wheat for Mar. was off 6.75 cents to 4.41 a bushel; Mar. corn fell 5.25 cents at 3.6825 a bushel; Mar. oats rose 1 cent at $2.5675 ...

  • US rig count increases 10 this week to 751; Texas up 16 Associated Press - Fri, Feb 17, 2017 20:40 GMT

    The number of rigs exploring for oil and natural gas in the U.S. increased by 10 this week to 751. A year ago, 514 rigs were active. Houston oilfield services company Baker Hughes Inc. said Friday that ...

  • Kansas lawmakers vote to roll back governor's deep tax cut Associated Press - Fri, Feb 17, 2017 19:54 GMT
    State Sen. Ty Masterson, R- Andover denounces a tax bill the Senate passed Friday, Feb. 17, 2017, in Topeka, Kan. (Thad Allton/The Topeka Capital-Journal via AP)

    TOPEKA, Kan. (AP) — Kansas' Republican-led Legislature voted Friday to roll back a deep tax cut championed by Republican Gov. Sam Brownback, conceding it helped put the state in dire financial straits and setting up a possible showdown with him.

  • Pennsylvania correlates natural gas fracking with quakes Associated Press - Fri, Feb 17, 2017 17:57 GMT

    Pennsylvania environmental regulators have found a likely correlation between a natural gas company's fracking operation and a series of tiny earthquakes in western Pennsylvania last year.

  • Fastest computer in the Rockies tapped for range of projects Associated Press - Fri, Feb 17, 2017 17:20 GMT

    CHEYENNE, Wyo. (AP) — A new supercomputer at a federally funded research center in Wyoming will do important work for a wide range of Earth science research. Among upcoming projects:

  • New supercomputer aids climate research in top coal state Associated Press - Fri, Feb 17, 2017 17:15 GMT
    This Oct. 26, 2016 photo provided by the University Corporation for Atmospheric Research shows the new supercomputer named Cheyenne at the National Center for Atmospheric Research at the supercomputing center in Cheyenne, Wyo. Wyoming officials including Gov. Matt Mead say they support the NCAR-Wyoming Supercomputing Center even as they describe themselves as climate skeptics. Scientists nationwide are nonetheless concerned that President Donald Trump, who has called climate change a hoax, might not take climate change research seriously. (Carlye Calvin/ University Corporation for Atmospheric Research via AP)

    CHEYENNE, Wyo. (AP) — A new supercomputer in the top coal-mining state has begun critical climate-change research with support from even some global warming doubters, but scientists worry President Donald Trump could cut funding for such programs.

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