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  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. Hopes of an accord to shore up prices which are languishing close to 2003 have dimmed over the past week, but the meeting between cash-strapped...

  • DUBAI, Feb 8- Iran plans to turn itself into a major food exporter, hoping the lifting of sanctions will boost international trade and allow investment in the agricultural sector, an official in Iran's state grain buying agency said. Foreign business delegations have flocked to Tehran since the United States, European Union and United Nations lifted...

  • No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump. After a flurry of diplomacy over the last two weeks about a possible production cut roiled oil markets, Sunday's meeting between cash-strapped...

  • Brent futures fell 68 cents to $33.38 a barrel, a 2 percent loss, by 10:36 a.m. EST, paring a fall of as much as 3.3 percent earlier in the session. "With the possibility of a production cutting deal quickly fading into the sunset, market participants are once again left to focus on the reality of the oversupplied global market," Energy Management Institute analyst...

  • *Focus shifting to Fed testimony, IEA, EIA and OPEC data. *Iran says European buyers agreed to lift its crude. Global benchmark Brent futures were down 68 cents at $33.38 at 1212 GMT, while U.S. crude futures lost 81 cents to $30.08.

  • *Focus shifting to Fed testimony, IEA, EIA and OPEC data. LONDON, Feb 8- Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Saudi Arabia's oil minister Ali al-Naimi discussed cooperation between members of the Organization of the...

  • Syria: Foreign aggressors will go home 'in coffins' Saturday, 6 Feb 2016 | 9:00 AM ET
    Syrians walk on debris of collapsed buildings after the war-crafts belonging to the Russian army carried out airstrikes on the opposition-controlled neighborhoods in Aleppo, Syria on December 11, 2015.

    Syria will resist any incursion and send the aggressors home "in coffins," its foreign minister said, in comments aimed at Sunni Arab countries.

  • OTTAWA, Feb 5- Canada said it was lifting some sanctions against Iran, including a ban on financial services, imports and exports, thereby allowing companies such as plane maker Bombardier Inc to compete against rivals. Dion said last week that if Airbus can to sell to Iran, then Bombardier should be allowed to export there as well. "Canada continues to have serious...

  • *Iran billing new oil contracts in euros- NIOC source. NEW DELHI, Feb 5- Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co told...

  • CALGARY, Alberta, Feb 4- Canada will not rush to lift sanctions against Iran, despite calls to scrap the measures quickly so Canadian companies can compete for contracts, Prime Minister Justin Trudeau said on Thursday. The United States, the European Union and other major nations have already lifted some of their punitive measures following a deal struck last...

  • *Iran says it supports meeting between OPEC, other producers. *Venezuela oilmin meets with counterparts in Qatar, Oman. NEW YORK, Feb 4- Oil fell 2 percent in volatile trading on Thursday, as support from a weakening dollar was overshadowed by scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for joint output cuts would...

  • *Iran says it supports meeting between OPEC, other producers. NEW YORK, Feb 4- Oil prices were volatile on Thursday, reversing earlier gains as scepticism that cash-strapped OPEC member Venezuela's effort to lobby crude producers for output cuts would succeed offset a weakening dollar. Venezuelan Oil Minister Eulogio del Pino said he had a "good and productive"...

  • *Iran says it supports meeting between OPEC, other producers. Crude added to the previous session's 7 percent jump after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers. "Headlines continue to fly about an OPEC/ non- OPEC meeting.

  • *OPEC's Venezuela lobbies for producer meet to cut output. Crude rebounded from an earlier decline after an Iranian official was quoted as saying Tehran supported a meeting between OPEC and other oil producers- raising hopes they could take action to support prices despite widespread scepticism in the market. "Headlines continue to fly about an OPEC/ non- OPEC...

  • *Airlines set for battle to serve Iran market. PARIS/ DUBAI, Feb 4- An economic battle is likely for dominance of the skies over the Gulf after Iran decided to invest $27 billion in an airline fleet capable of taking on the region's supercarriers. By ordering dozens of long-distance European jets last month after the lifting of sanctions, Iran is positioning Tehran...

  • UPDATE 1-British Airways to resume flights to Iran Wednesday, 3 Feb 2016 | 12:20 PM ET

    LONDON, Feb 3- British Airways will resume direct flights from London to Tehran from July, renewing links with the Iranian capital after sanctions were lifted. The British airline followed Air France-KLM in confirming its intention to restart flights to Tehran after Iran curbed its nuclear programme in return for the lifting of U.S., EU and United Nations...

  • British Airways to begin flying to Iran from July 14 Wednesday, 3 Feb 2016 | 10:22 AM ET

    Feb 3- British Airways will begin direct flights from London's Heathrow airport to Tehran from July 14, International Consolidated Airlines Group SA said on Wednesday. The company, which operates British Airways and Iberia Airlines, said it would will launch the route as a six-per-week service before moving to daily flights from winter 2016..

  • NEW DELHI/ MANILA, Feb 3- State-run Indian company KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from trade sanctions. Companies such as KIOCL and aluminium maker NALCO, which is considering setting up a $2...

  • *Ankara aims for $30 bln in trade with Iran by 2023. ISTANBUL, Feb 2- The lifting of sanctions against Iran may be a mixed blessing for Turkey, opening up access to a fast-growing, lucrative market, but one that could someday rival Ankara as both an investment destination and exporter. NATO- member Turkey remains the region's economic powerhouse, with output of nearly...

  • Why we should worry about Libya...again Tuesday, 2 Feb 2016 | 10:45 AM ET
    Flames rise from a storage tank filled with crude oil at an oil facility in northern Libya's Ras Lanouf region after it was set ablaze following fresh attacks launched by Islamic State (IS) group jihadists to seize key port terminals, on January 21, 2016.

    A global coalition is meeting to focus on Islamic State's strengthening presence in Libya.