US oil firm counts Venezuela cost
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US oil giant ConocoPhillips says the cost of quitting operations in Venezuela led to a 95% drop in quarterly profits.
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NYMEX crude oil futures jumped to a  record $46.85 a barrel on Monday on concerns about supply  disruption from oil exporter Venezuela, which is voting in a  referendum on whether to recall President Hugo Chavez.
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LONDON: Oil&#39;s record-breaking rally has taken US crude over $US52 a barrel, fuelled by the impact of Hurricane Ivan on US winter inventories.
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Oil companies BP Plc , Chevron Corp. , Total  and Statoil  have agreed to sign a deal on Monday with Venezuela for the state takeover of a majority stake in multibillion dollar oil projects, a government source told Reuters on Monday.
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Venezuela accused Exxon Mobil of legal  "terrorism" on Friday after the giant oil company won court  orders freezing $12 billion of the major crude supplier's  assets in a dispute at the heart of a worldwide fight for  control of natural resources.
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Exxon Mobil Corp.  plans to hand operations of a multibillion-dollar oil project to the Venezuelan state before a May 1 deadline imposed by President Hugo Chavez, industry sources told Reuters on Thursday.
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Venezuela's oil operations and cash  flows have not been affected by court orders won by Exxon Mobil  Corp  to freeze up assets as the U.S. giant fights for  compensation for a project nationalized last year, the nation's  energy minister said on Friday.
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Oil hovered above $95 a barrel on Monday, as investors weighed the effects of a slowing U.S. economy against an escalating row between OPEC member Venezuela and oil major Exxon Mobil .
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Russian oil giant Lukoil Holdings is planning a $1 billion joint investment with Venezuela's state-run oil company, a top Lukoil official said Thursday.
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Oil prices hit a new record of 50.47 US dollars a barrel on Tuesday as rebels in Nigeria threatened oil output and hurricane Ivan slashed production in the Gulf of Mexico, despite Saudi Arabian pledge to increase output.
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ARRECIFE, Venezuela  - A sizable group out of the six foreign oil majors negotiating with Venezuela the nationalization of multibillion dollar projects are about to sign deals, the OPEC member's energy minister said on Wednesday.
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Oil prices jumped to a new record  high near $47 on Monday with traders on tenterhooks for the  result of Venezuela's weekend referendum and Iraq's exports  again disrupted by a Shi'ite uprising in the south.
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Tokyo, June 20 (Jiji Press)--Toyo Engineering Corp.  said Wednesday it has received a 150-billion-yen order from Petroquimica de Venezuela S.A., known as PEQUIVEN, for the construction of a fertilizer plant in Venezuela, jointly with two other plant engineering firms.
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Oil prices ranged widely Monday, supported by Venezuelan President Hugo Chavez's threat to cut off sales to the United States
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Not everyone was complaining when the price of a barrel of oil flirted with the $50 mark on global markets earlier this summer. For Venezuelan President Hugo Chavez, it meant more money to
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Venezuela said on Thursday U.S. oil giants ConocoPhillips  and Chevron Corp.  have agreed to cede by May 1 operations of multibillion-dollar projects in the Orinoco heavy crude belt.
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U.S. oil futures set a new record $47.01  a barrel on Wednesday after a new threat against Iraq's oil  sector by rebel Shi'ite militia.  U.S. crude traded up 26 cents  to set a new high in the 21-year history of the New York  Mercantile Exchange contract.