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Bloomberg Oil steadied after another sharp pullback as traders remained wary over whether supplies will be sufficient to cover a range of global disruptions. Futures in New York traded near $68 a barrel, having tumbled 4.2 percent as Libya restored output at some fields and the US signalled it may take a slightly softer approach with sanctions on Iranian exports. …

Bloomberg US President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week. “We are going to be selling LNG and will have to be competing with the pipeline and I think we’ll compete successfully, although there is …

Bloomberg Carbon Holdings hopes to finalise financing for its $10.9 billion petrochemical plant by the end of the year, and expects to begin construction of what would be the Middle East’s largest such facility in the third quarter of 2019. The Tahrir Petrochemical Complex, which will be built in Suez Canal Economic Zone, will be finan-ced by equity and a …

ABU DHABI / WAM The value of non-oil trade between Abu Dhabi and China, in 2017, reached AED13.2 billion, constituting around 8.2 percent of the emirate’s registered trade that totalled AED160 billion during the same year, according to statistics from the Statistics Centre-Abu Dhabi (SCAD). Statistics on Abu Dhabi’s non-oil trade also show that China is among the top five …

Bloomberg OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” …

Bloomberg Uganda, which plans to produce and refine its own oil, said it will require as much as $70 million to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000 cubic meters that it may upgrade to 138,000 cubic meters if there’s demand, …

Bloomberg Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman. “Production and exports from southern Iraq are stable as per normal levels,” Oil Ministry spokesman Asim Jihad said by phone. Authorities have deployed security forces to protect energy fields …

MOSCOW / WAM France won the World Cup Russia in a thrilling final with Croatia at Moscow’s Luzhniki stadiumon on Sunday. France overwhelmed Croatia 4-2 to be FIFA World Cup 2018 champion for second time, after winning in 1998. Croatia was playing in its first World Cup final. For France, it was a first World Cup crown since winning on …

Bloomberg Vitol Group, the world’s largest independent oil trader, is among firms considering bids for Spanish oil company Cepsa Trading SA as its owner weighs alternatives to an initial public offering planned for later this year, according to people familiar with the matter. Cepsa, owned by Abu Dhabi wealth fund Mubadala Investment Co, could be valued at around 10 billion …

Bloomberg India, the world’s fastest growing oil consumer, is bucking an emerging market trend of populist measures to curb surging oil prices. While governments in Indonesia, Brazil and elsewhere are cutting or freezing prices, India is standing its ground on gasoline and diesel costs even after they rose as much as 16 percent this year. India has, so far, resisted …