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Statoil to keep Rosneft partnership despite Russia sanctions OSLO: Norwegian energy group Statoil said on Monday it intended to continue its partnership with Russia's Rosneft, despite Western economic sanctions imposed on Moscow for its role in the Ukranian crisis. "Of course, (the imposition of sanctions) hasn't made it any easier for either Rosneft or companies working with that company and other Russian companies," Statoil chief executive Helge Lund told Dow Jones Newswires."But our aim is to continue the (Rosneft) partnership, and we hope for diplomatic solutions" to the tensions between the West and Russia, he added on the sidelines of a press conference on the oil industry in Stavanger in southwestern Norway.In May 2012, the state-controlled Russian and Norwegian giants announced a strategic partnership, Rosneft's third alliance with a Western company after US-based ExxonMobil and Italy's Eni.The partnership with Statoil concerns joint explorations in the Arctic and East Asia. Western sanctions against Russia targeting sales of technology destined ...
EU carbon prices edge lower ahead of increased supply LONDON: European carbon prices edged lower in thin trade on Monday ahead of an increase in supply from government sales of carbon allowances.Front-year EU Allowance (EUA) futures closed at 6.34 euros, down 4 cents on Friday's settlement.Liquidity was poor with around 4 million allowances of all vintages changing hands across all platforms as many traders were absent from their desks due to a national holiday in Britain. "The biweekly UK auction on Wednesday as well ...
Oil edges further above $102, supply risks support LONDON: Oil edged further above $102 a barrel on Monday with support from geopolitical tensions in Ukraine and Libya, although ample supply limited the rebound from last week's 14-month low. Libyan exports have risen in the past few weeks, although a continued recovery looks uncertain given fighting, analysts say. Fire destroyed the terminal at Tripoli's main airport on Sunday. Brent crude rose 14 cents to $102.43 a barrel by 0917 GMT. It reached a 14-month ...
Oil slips towards $102, ample supply weighs LONDON: Oil slipped towards $102 a barrel on Monday, giving up an earlier gain, as ample supply and weak demand countered support from geopolitical tensions in Ukraine and Libya.Libyan exports have risen and Iraq's exports have continued flowing despite fighting in both countries. Ample supply and weak demand have created an oversupply in the Atlantic Basin market, according to Morgan Stanley.Brent crude slipped 18 cents to $102.11 a barrel by 1353 GMT. It hit a ...
Oil prices fall LONDON: Oil prices fell on Friday amid downbeat Chinese manufacturing data and the low likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said.US benchmark West Texas Intermediate for October delivery slid 41 cents to $93.55 a barrel.Brent North Sea crude for October dropped 27 cents to stand at $102.36 a barrel in London deals. Trading is "likely weighed by weaker-than-expected Chinese manufacturing data", Fat Prophets resources analyst David Lennox told AFP.The HSBC ...


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