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HuaweiSuhail bin Mohamed Faraj Fares Al Mazrouei, UAE Minister of Energy, on Thursday emphasised the importance of work and cooperation to increase chances to win the bid to host the ‘World Expo 2020’ in Dubai, which will be the biggest event of its kind in the history of international exhibitions.
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Oil prices eased on profit-taking in Asian trade Friday while dealers grow cautious over a supply glut and waning global demand, analysts said.
Oil prices fell in Asian trade Thursday after a surprise uptick in US crude stockpiles, but losses were tempered by growing concerns over turmoil in Turkey, analysts said.
Malaysian national oil company Petronas says it expects to spend up to $16 billion to build a liquefied natural gas export facility in western Canada.
Petrochemicals production in the GCC increased by 5.5 per cent in 2012, despite a slowdown in global markets due to the recession in Europe, inventory discrepancies and a deterioration in manufacturing, according to the Annual Report 2012 of the Gulf Petrochemicals and Chemicals Association, or GPCA.
Oil prices rose in Asian trade Monday as moderate growth in new jobs in the United States raised hopes about a pick-up in demand in the world’s biggest crude consumer, analysts said.
Oil prices rose on Asian trade on Friday as dealers made the most of a weakening dollar as they keep an eye on the release of crucial US jobs data later in the day, analysts said.
Oil prices rose in Asian trade on Thursday, boosted by stronger US demand but caution over a slowing Chinese economy limited gains, analysts said.
The price of oil rose above $93 a barrel on Monday at the start of a big week for economic data, culminating in Friday’s U.S. nonfarm payrolls report for May
Oil was up in Asia on Friday, with dealers buying up the commodity after a drop in prices over the past few days, analysts said.