IEA sees global oil demand to recede


The International Energy Agency (IEA) cut its global oil demand growth forecast for this year, due to persistent high oil prices and lower growth projections for developed economies.

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Oil prices to drop below US$100 in second half of 2011


A new report by Bank of America Merrill Lynch forecasts that oil prices could drop below US$100 per barrel in the second half of 2011.

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Saudi cuts oil output

Saudi Arabia, oil market, oversupplied, output, oil minister Ali al-Naimi, Libya Kuwait, United Arab Emirates, crude prices, OPEC, Japanese demand, Nobuo Tanaka, the head of the International Energy Agency

Saudi Arabia said that the oil market was oversupplied and revealed last month that the kingdom had slashed its March output by some 700,000 bpd, Saudi Arabia's oil minister Ali al-Naimi announced.

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Iraq awards pipeline contract to SNC Lavalin Group

Iraq,consultancy contract,  SNC Lavalin Group,oil export pipeline,engineering and construction company,pipeline design, feasibility studies and preparation of tender documents,oilfields,Basra, Syria,Turkey,contract,oil export facility,Oil Minister Abdul-Kareem Luaibi,pipeline corridor,crude pipeline, Ghassan Ashqar,senior vice president at SNC Lavalin

Iraq has signed a consultancy contract valued at around US$13.5mn with Canada's SNC Lavalin Group for a strategic Oil Minister Abdul-Kareem Luaibi, Iraq's oil minister said.

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Emerson strengthening its position in the region


Emerson Process Management is consolidating and strengthening its presence in the region when it opened its new Middle East Flow Service Centre in Abu Dhabi which represents the first in-region VSL Calibration and Measurement Capability (CMC)-certified calibration facility.

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