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  • *Iran paid $87 mln for Romanian rig to bypass sanctions. DUBAI, Sept 4- Four years after Iran spent $87 million to buy an oil drilling rig that was never delivered, the broker in the deal has given his side of a story he describes as a cautionary tale for Western investors impatient for an end to sanctions. Over the last several months, "the case of the missing rig" has...

  • *Iran paid $87 mln for Romanian rig to bypass sanctions. *Broker says he is targeted by interests in Tehran. DUBAI, Sept 4- Four years after Iran spent $87 million to buy an oil drilling rig that was never delivered, the broker in the deal has given his side of a story he describes as a cautionary tale for Western investors impatient for an end to sanctions.

  • SINGAPORE, Sept 4- Gold held declines from a two-day losing streak on Friday, ahead of a crucial U.S. jobs report as traders waited for clues about the timing of a Federal Reserve rate hike. *Spot gold was little changed at $1,125.31 an ounce by 0040 GMT, after losing about 1 percent in the last two sessions. The metal fell to a one-week low of $1,121.35 on Thursday.

  • CAIRO, Sept 2- Libya's official government is struggling to woo oil majors in a bid to control oil revenue and force a rival Tripoli government into a U.N. peace deal because foreign clients are wary of breaking with the established state energy firm in the capital. By appointing its own NOC management and inviting firms to a conference in Dubai, the east has...

  • PYONGYANG, North Korea— If an Air Koryo passenger ignores its no-photography rule, a flight attendant might take the camera and delete the pictures herself. Crumpling up a newspaper bearing the image of North Korean leader Kim Jong Un can earn travelers a stern lecture, or worse. They are clearly not the world's worst airline, "said Simon Cockerell, of the Koryo...

  • DUBAI, Sept 1- Iranians are likely to become major buyers of Dubai property again if sanctions against the Islamic Republic are lifted, providing a much-needed fillip to the emirate's real estate sector, consultants Cluttons said. Dubai property prices have fallen slightly this year, ending a sustained rebound from 2008-9 crash after tougher regulations to...

  • LONDON, Aug 30- Libya's National Oil Company and Central Bank chairmen engaged in another round of blitz meetings with oil majors in London in a renewed effort to stop its rival wooing its clients. The head of the Tripoli- based NOC, Mustafa Sanallah, said he and Tripoli- based Central Bank Chairman Saddek El-Kaber held meetings with 26 oil firms over the course of...

  • Fire at Saudi oil company residence kills 11 Sunday, 30 Aug 2015 | 2:53 AM ET

    DUBAI, United Arab Emirates— A large fire broke out Sunday in the basement of a sprawling residential complex in Saudi Arabia's oil-rich east, killing at least 11 people and injuring more than 200, officials in the kingdom said. The Interior Ministry's General Directorate of Civil Defense said victims were of various nationalities, without elaborating.

  • *GCC bonds outperformed other emerging markets for years. DUBAI, Aug 25- International bonds from the Gulf's wealthy energy-exporting countries are losing some of their safe-haven status as an era of low oil prices looms. For several years, bonds from the six-nation Gulf Cooperation Council appeared almost immune to global instability, handily...

  • CAIRO— Egypt's stock market fell to its lowest level in almost two years on Sunday, as global markets sag and investors sober up from a buying binge surrounding a much-hyped economic conference last spring, analysts said. "It's a global sell-off; there's lack of foreign investments, given the macro-economic headwinds," said Amr Elalfy, global head of research at...

  • CAIRO, Aug 23- A state oil firm loyal to Libya's official government based in the east of the country has invited foreign oil firms to discuss existing oil purchase contracts at a conference in Dubai next month, it said in a statement. The move is a fresh attempt by Libya's internationally recognised government to control state oil firm NOC, which is at the centre of...

  • DUBAI, United Arab Emirates— Stock markets in Saudi Arabia and Dubai closed around 7 percent lower on Sunday on the back of a further slide in oil prices. Dubai's main index closed 6.96 percent lower on its opening day of trading for the week. Sunday was the first day of trading in the Middle East after Brent crude, a benchmark for international oil, fell more than a...

  • Mood sours among Saudi businessmen as oil slides Sunday, 23 Aug 2015 | 7:36 AM ET

    *Economy still growing, state has big fiscal reserves. RIYADH/ KHOBAR, Saudi Arabia, Aug 23- Saudi Arabian entrepreneur Essam al-Zamel has overcome many obstacles to found a string of technology companies in the past decade, but he thinks sliding oil prices will be hard to handle. "A black economic cloud is covering the skies of Saudi Arabia," Zamel tweeted last week,...

  • TAKE A LOOK-China's rising oil trading might Thursday, 20 Aug 2015 | 9:24 PM ET

    SINGAPORE, Aug 21- China is increasingly dominating Asian oil trading in the latest sign that its huge consumption is starting to show in markets and gives it the ability to influence prices. Leading Chinese oil traders have cornered the market on several occasions since October last year, as China's state-controlled Chinaoil and Unipec trade such high...

  • FACTBOX-China's top two oil traders Thursday, 20 Aug 2015 | 5:00 PM ET

    BEIJING, Aug 21- An intensifying rivalry between China's two top oil traders Chinaoil and Unipec is whipsawing Asia's oil market, pitting the state-owned firms against each other in a battle for control of the region's crude benchmark. *Trading desk: Unipec has 400 staff with trade hubs in Beijing, Hong Kong, Singapore, London and New York. Hong Kong and London...

  • Chinese trading rivalry ruffles Asian oil markets Thursday, 20 Aug 2015 | 5:00 PM ET

    *Chinaoil, Unipec face off in Asia crude trade. BEIJING/ SINGAPORE, Aug 21- An intensifying rivalry between China's two top oil traders Chinaoil and Unipec is whipsawing Asia's oil market, pitting the state-owned firms against each other in a battle for control of the region's crude benchmark. Aggressive trading- with heavy buying by Chinaoil met by selling from...

  • *Qatar, Kuwait join regional sell-off. DUBAI, Aug 20- Most Middle East stock markets fell on Thursday as oil prices and global emerging market equities extended their slump, but Saudi Arabia bounced off an eight-month low and edged up after dropping for seven sessions in a row. In a Reuters poll at the end of July, Middle East asset managers were most bearish on the...

  • DUBAI, Aug 20- Saudi Arabia's riyal fell in the forwards market on Thursday as oil prices dropped and Saudi equities fell, prompting some traders to hedge against the risk of the riyal's peg to the U.S. dollar eventually coming under pressure. One-year dollar/Saudi riyal forwards jumped as high as 305 points, their highest level since March 2003, from Wednesday's...

  • *Longer-term money rates, dollar/riyal forwards surge. DUBAI, Aug 16- Turmoil in the Saudi Arabian money markets suggests that financing the government's budget deficit in an era of cheap oil may not be smooth as banks worry about the risk of a liquidity squeeze. The government sold 20 billion riyals of riyal bonds to banks last Tuesday to help to cover a huge...

  • TAQA, which is 74.1 percent owned by the Abu Dhabi government and which reports second-quarter earnings on Thursday, declined to comment. The DMO needs to approve fundraising by Abu Dhabi government-related entities under rules introduced to prevent excessive borrowing by state companies in the wake of Dubai's debt problems at the turn of the decade.