UNITED ARAB EMIRATES

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Oil rises 5 percent on OPEC, U.S. demand

U.S. oil prices jumped more than 5 percent to over $44 a barrel on Thursday on expectations OPEC will cut output again and on signs of a rebound in gasoline demand in top consumer the United States. U.S. crude for April delivery gained $2.20 to trade at $44.70 a barrel by 1:45 p.m. EST. London Brent crude rose $1.60 to $45.89 a barrel. Support also came from U.S. government data released on Wedn...

Oil rises above $44 after UAE cuts Asia supply

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Oil rose above $44 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.

Oil rises above $43 after UAE cuts Asia supply

IBTimes Logo
Oil rose above $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.
IBTimes Logo

Oil rises to $43 after UAE cuts Asia supply

Oil rose to $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March. Abu Dhabi National Oil Co , the main oil supplier in the UAE, said it will sell customers less of its flagship Murban crude oil and three other main grades in April than in March. The move ca...
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Dubai

It has spectacular beaches but is not Australia; it is one of the world’s most secure destinations but is not Singapore; it has opulent city hotels and superb beachside resorts but is neither Jakarta nor Bali. It has world class shopping but is not Hong Kong.
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The world's largest Man-made Palm Islands

Known as The Palm or Dubai's man-made island, the largest in the world, located on Dubai, UAE which major commercial and residential structure will be constructed.
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ConocoPhillips to seal Abu Dhabi deal: Reports

Energy giant ConocoPhillips said it expects to seal a $10 billion sour gas deal with Abu Dhabi National Oil Company, the world's third largest oil exporter, according to media reports.
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Dubai to host Gold Conference

Commodity OnlineDUBAI: Dubai, the Asian hub for major trading in gold, is gearing up to host sixth annual Dubai City of Gold Conference. The conference will take place between April 12th and 13th at the Park Hyatt, Dubai.
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Japan oil imports touch 127.18 mpb in Feb

Commodity Online TOKYO: Japan s Natural Resources and Energy Agency on Monday said country s crude oil imports in February rose 8.2% from a year before to 127.18 million barrels.
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UAE decides to go nuclear

Commodity Online ABU DHABI: The UAE on Sunday decided to set up an agency to assess and develop a peaceful and fully transparent nuclear energy programme.
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Bush stops in Saudi Arabia for talks

Iran, Mideast peace and democracy in the region topped the agenda for President Bush during talks Monday with ally Saudi Arabia. Bush's first visit to the kingdom came as his administration notified Congress of its intent to sell $20 billion in weapons, including precision-guided bombs, to the Saudis. The announcement was timed to coincide with the president's arrival in the Saudi capital.
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Bush nudges Israel, Palestinians on peace

President Bush, in the Mideast to push along a peace deal by the end of his presidency, gave orders to both sides on Wednesday. He told Israelis that illegal outposts in disputed land must go and told Palestinians that no part of their territories can be a safe haven for terrorists.
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Citigroup to sell $7.5 billion stake to Abu Dhabi

Citigroup Inc is selling up to 4.9 percent of itself for $7.5 billion to the Gulf Arab emirate of Abu Dhabi, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and the resignation of its chief executive. The capital injection will shore up Citi's balance sheet, which has been hurt by some $6.8 billion of writedowns and losses in the third quarter, and the potential for another $11 billion in the fourth quarter.
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Saudi dangles prospect of going to Annapolis

Saudi Arabia has not ruled out the possibility of taking part in a Middle East peace conference with Israel next week, according to comments by Crown Prince Sultan carried by state television on Thursday.
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Dubai Ports IPO raises $5 billion

Dubai raised almost $5 billion selling a stake in port operator DP World in the Middle East's largest IPO, setting the scene for perhaps the biggest test for the emirate's two-year-old bourse where the shares will trade.
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OPEC summit ends in division over weak dollar

An OPEC summit ended on Sunday in sharp political division over whether to take action over the weak dollar, as heads of state vowed to keep providing Western consumers with an adequate supply of oil.
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Total net falls but tops forecasts

French oil giant Total posted a 3 percent drop in third-quarter adjusted net profit on Wednesday, despite higher oil prices and production, but the result beat forecasts and it maintained a key output target.

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