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Oil prices fall further 6 percent
Mar 12, 2020 12:07Oil prices have plunged a further six percent Thursday after US President Donald Trump announced travel restrictions on Europe to combat the spread of the coronavirus, ramping up fears of more recession.
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Global stock markets post biggest falls since 2008 financial crisis
Mar 11, 2020 11:25Global stock markets posted their steepest falls since the 2008 financial crisis after a crash in the oil price amplified concerns about the escalating economic cost of the coronavirus outbreak. Almost £125 billion was wiped off the value of the Financial Times Stock Exchange (FTSE) 100 in the fifth-worst day in history for the index of leading UK company shares, as it plummeted by 7.7 percent to finish the day below 6,000 points, its lowest level since straight after the Brexit vote in 2016.
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US lying about how bans are affecting Iran’s access to medicine: Minister
Mar 09, 2020 15:52Iranian Oil Minister Bijan Namdar Zanganeh has lashed out at the United States for claims that Tehran’s import of medicine and other humanitarian goods are exempt from Washington's unilateral sanctions, calling such claims “a very big lie”.
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Saudi Arabia plans to increase oil output next month, well above 10mn bpd: Bloomberg
Mar 08, 2020 08:33Saudi Arabia, the world's top crude exporter, reportedly plans to increase oil output next month to more than 10 million barrels per day (bpd) after its OPEC+ alliance with Russia collapsed, a move that would throw oil market into chaos.
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Iran petrol price hikes caused consumption to fall by 26%: Oil Ministry
Mar 04, 2020 15:04Iran’s implementation of fuel price hikes last year helped curb rampant use of petrol in the country by more than a fourth, says an Oil Ministry official.
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Iran says coronavirus has not affected oil, gas production
Mar 04, 2020 11:40Iran's Ministry of Petroleum says the coronavirus has not affected Iran’s oil and gas production and that the virus containment at the oil industry has successfully been fulfilled.
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Damascus says US smuggling Syria’s oil, selling it to Turkey, other countries
Mar 01, 2020 07:14Syria has condemned the United States for ‘selling’ the Syrian oil to Turkey and other countries.
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Iran's offshore installation proves how sanctions are not bad news
Feb 26, 2020 13:33Iranian companies have installed a 2,500-tonne offshore platform at phase 13 of the world’s largest gas field in the Persian Gulf, in a further testimony to their burgeoning ability to carry out tasks which until recently were an exclusive prerogative of international energy giants.
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JP Morgan economists warn climate crisis is threat to human race
Feb 26, 2020 11:16According to an analysis compiled for the Guardian last year, JP Morgan has provided $75 billion in financial services to the companies most aggressively expanding in sectors such as fracking and Arctic oil and gas exploration since the Paris Agreement. The authors say policymakers need to change direction because a business-as-usual climate policy “would likely push the earth to a place that we haven’t seen for many millions of years”, with outcomes that might be impossible to reverse.”
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Iran fulfills dream as it unveils first homemade oil rig
Feb 19, 2020 13:50Iran has unveiled its first oil rig manufactured by domestic companies, fulfilling a dream which the country’s petroleum industry cherished for long.