The International Monetary Fund (IMF) has warned oil prices could jump by as much as 20-30 per cent if Iranian exports are disrupted by US and EU sanctions.
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ConocoPhillips and Occidental Petroleum Corp (OXY) both posted better-than-expected Q4 earnings, rising 66 per cent and 35 per cent respectively, due to higher oil prices.
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Baker Hughes reported a drop in profit for the fourth quarter owing to higher costs even as revenues increased 22 per cent from last year.
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The European Union (EU) approved an embargo on Iranian oil imports at a meeting of EU foreign ministers in Brussels.
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Unique Maritime Group (UMG) is continuing to expand its services and capabilities and the company held a round table to discuss its new regional and international vision 'Strength in Depth'.
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