Plan to make oil market transparent
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Germany and Britain plan to present a joint initiative aimed at boosting transparency on the oil markets to tomorrow's meeting of G7 finance ministers in Washington, a German government source says.
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OPEC was meeting on Tuesday to consider a Saudi proposal to raise oil output in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing stocks.
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The Organization of Petroleum Exporting Countries wants oil prices to fall faster to an ideal price of around US$30 a barrel, and will discuss whether to increase production at a meeting next month, the group&#39;s president said Thursday.
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The world&#39;s oil supply is expected to be stretched thin for another two to three years, even as demand tapers off and the industry gears up for an exploration and production spending spree in 2005.
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The New York Mercantile Exchange on Thursday revealed plans for an open-outcry energy exchange in London or Dublin. The move will intensify the battle with the London-based International Petroleum Exchange for supremacy in global energy futures trading.
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Our position is: United Nations must be more open about mistakes made in oil-for-food scandal. When the United Nations in 1996 began allowing Iraq to sell oil to raise money to buy food and medicine, the program
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URGENT action is needed to ensure sky-high oil prices do not derail the global economic recovery, the International Monetary Fund said yesterday.
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Oil prices are very low, harming investment in the industry, and action should be taken to steady the market, OPEC president Edmund Daukoru said yesterday .
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OPEC decided Wednesday to increaseits daily oil production ceiling by 1 million barrels beginning from Nov. 1 to bring down oil prices in the world market to a reasonable level.
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LONDON, England -- Royal Dutch/Shell plans to boost exploration and production in a bid to restore confidence in the scandal-hit oil giant.
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The Christian Science Monitor - Oil-sand, oil-shale, and coal-to-oil projects &#8211; alternative fuel sources that could enhance US energy security &#8211; have always faced one hurdle. They look good only when oil prices are high. Now, they have another challenge: global warming.
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VIENNA, Austria -- Raise prices. Ease production. For weeks ahead of this week&#39;s OPEC meeting, hawks in the organization have been talking tough about the need to keep oil revenues high -- and lowering output.
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The Securities and Exchange Commission will propose soon a plan to tighten governance at the nation&#39;s stock exchanges to ensure they are serving the public interest, SEC Chairman William Donaldson said Friday.
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Oilâs $100-a-barrel price flirtation suggests that traders will see more of the escalation in energy markets that marked the final months of 2007.
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In 2002, China Aviation Oil (Singapore) was named Singapore&#39;s most transparent company by the island&#39;s Securities Investors Association.
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The Anglo-Dutch oil firm sets out to woo investors by explaining how it will boost its oil reserves.
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A look at how government does business with the oil industry.