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  • ADDIS ABABA, Aug 20- Ethiopian Airlines is powering ahead with a plan to expand its fleet and route network after exceeding its profit target for the 2014/ 15 year, its chief executive said in an interview. Ethiopian Airlines flew six million passengers in the prior year, up from 5.22 million in 2012/ 13.. Ethiopian Airlines plans to increase revenue to $10 billion by...

  • *Will no longer invest in Korea's Posco, Daewoo International. Construction firm IJM Corp Bhd and conglomerate Genting Bhd, both of Malaysia, and steelmaker POSCO and conglomerate Daewoo International Corp of South Korea, were removed from the fund. At the start of 2015, the Norwegian fund owned shares worth 1.49 billion Norwegian crowns in Posco, 67.5 million...

  • *Iraq to export near record volumes of Basra crude. *China's economy expected to weaken further. Benchmark North Sea Brent crude oil was up 60 cents at $50.26 a barrel by 0855 GMT.

  • LONDON, Aug 5- After slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders. The International Energy Agency said in February it saw it recovering to $73 in 2020 as the supply glut slowly eases. Analysts at investment...

  • OSLO, July 28- Norway's Statoil posted higher than expected second-quarter profit, helped by its refining and North Sea oil businesses, and maintained its quarterly dividend at the same level, despite weak oil prices. "Statoil's results prove once again just how resilient its business model actually is. As part of converting its financial reporting to U.S....

  • OSLO, July 28- Norway's Statoil posted higher than expected second-quarter profit, helped by its refining and North Sea oil businesses, and said it would keep its quarterly dividend at the same level for the rest of the year, despite weak oil prices. "Statoil's results prove once again just how resilient its business model actually is. As part of converting its...

  • *Norway production, refineries boost result. OSLO, July 28- Norway's Statoil reassured investors on Tuesday by maintaining its dividend for the second and third quarters after posting better-than-expect results, despite taking a hit from the slump in oil prices. CEO Eldar Saetre reiterated that the oil price needs to be at $100, $80 and $60 a barrel in 2016, 2017...

  • SANTIAGO, July 23- Chile's salmon farmers are using record levels of antibiotics to treat a virulent and pervasive bacteria, driving away some U.S. retailers including Costco Wholesale Corp, which is turning to antibiotic-free Norwegian salmon. Still, amid growing concerns in the U.S. food industry that heavy use of antibiotics in animals can spawn...

  • UPDATE 4-Oil steadies as Saudi crude exports fall Monday, 20 Jul 2015 | 4:41 AM ET

    LONDON, July 20- Oil prices steadied on Monday after data showing a sharp drop in Saudi Arabia's crude oil exports balanced signs of rising refined products stocks. Brent crude for September was 5 cents up at $57.15 a barrel by 0825 GMT. Oil prices have fallen for three weeks in a row on expectations of increased exports from Iran following a deal to ease sanctions...

  • WASHINGTON, July 14- Within hours of the announcement of an Iran nuclear deal early on Tuesday, lawyers around Washington were fielding calls from U.S. corporate clients eager to know what the 159- page deal would mean for their business prospects. U.S. companies face losing out to foreign competitors in Iran as they wait for signs that Tuesday's historic...

  • ATHENS, July 14- Greece said on Tuesday that it had received three bids for deep sea oil and gas drilling in the west of the country and south of the island of Crete, the latest phase of an ambitious attempt to develop untapped oil potential. The names of the bidders will not be disclosed until tender documents are unsealed, the Energy Ministry said.

  • OSLO, July 7- A Norwegian court sentenced four former top executives at Yara, the world's biggest nitrate fertiliser maker, to prison on Tuesday for paying bribes in Libya and India, in one of Norway's biggest corruption scandals. Prosecutors had accused the men of paying around $8 million in bribes to officials in India and Libya- including to the family of former...

  • UPDATE 7-Oil falls more than 3 pct after Greek 'No' Monday, 6 Jul 2015 | 8:01 AM ET

    *China unleashes emergency measures to support stock markets. LONDON, July 6- Oil prices fell more than 3 percent on Monday after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets, adding to concerns about demand at a time of global oversupply. "Uncertainty over Greece is bearish for oil.

  • Red-hot fuel demand can't shore up the oil price alone Wednesday, 1 Jul 2015 | 8:48 AM ET

    LONDON, July 1- Sales of transport fuels have exceeded all expectations this year, making demand from reviving economies the mantra of bulls who say the oil price is well on the mend. But warning signs, especially in Europe, may derail that view. Gasoline consumption has bounced far higher, with U.S. drivers joining those in India, Indonesia and China in driving more...

  • POLL-Iran oil exports could jump by 60 pct in a year Wednesday, 1 Jul 2015 | 5:59 AM ET

    LONDON/ BENGALURU, July 1- Iran will increase its oil exports by up to 60 percent within a year if it can agree a nuclear deal with world powers bringing an end to sanctions, a Reuters survey of analysts said on Wednesday. A poll of 25 oil analysts from leading banks and brokerages forecast Iran would be able to raise crude oil output by between 250,000 and 500,000...

  • *Worried about Greece, investors shun riskier assets. NEW YORK, June 29- Crude futures hit 3- week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market. "It's all about Greece today," said oil...

  • *Oil market also eyeing Iran nuclear negotiations. NEW YORK, June 29- Crude futures hit 3- week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market. Also, the Iran deadline for a nuclear pact...

  • *Investors shun riskier assets on Greece fears. *Oil market also eyeing Iran nuclear negotiations. LONDON, June 29- Oil fell more than $1 to around $62 per barrel on Monday, touching its lowest in three weeks, as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook.

  • *Investors shun riskier assets on Greece fears. *Oil market also eyeing Iran nuclear negotiations. LONDON, June 29- Oil fell more than $1 to below $62 per barrel on Monday, its lowest in three weeks, as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook.

  • *Investors shun riskier assets on Greece fears. LONDON, June 29- Oil fell more than $1 to below $62 per barrel on Monday, its lowest in three weeks, as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook. The European Central Bank froze funding support to Greece's banks after bailout...