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Tag: Commodities

Copper hits four-year high as 2018 deficit looms

Copper prices continued their march higher on Thursday, rallying to their highest level in almost four years and putting the metal on track for its best year since 2010, in a welcome development for some of the world’s largest mining companies following years of oversupply. The metal is set to end the year up more […]

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Austria and UK gas disruptions push up prices

An explosion and fire that ripped through Austria’s main gas pipeline hub on Tuesday killed one person and injured 21 others, prompting Italy to declare a state of emergency as flows from the strategic site were cut off for most of the day. The Baumgarten site in eastern Austria, near Slovakia, is a major regional […]

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United Oil records ‘positive results’ from Italian gas field

An energy company led by former Tullow Oil executives has recorded “positive results” after drilling one of its wells in Italy. United Oil & Gas, the London-listed explorer, has drilled its well on the Selva Gas field in Italy with the results indicating a “thick gas-bearing reservoir”. “We are very pleased with these initial well […]

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Tullow Oil upgraded to ‘buy’ after border dispute settled

Oil and gas exploration company Tullow Oil has been upgraded and given a “buy” rating by Bank of America Merrill Lynch (BofAML), with drilling on its flagship TEN project in Ghana to resume next year. Previously rated “neutral”, Tullow Oil stock now offers a “compelling investment case”, said BofAML. The bank said the resolution of […]

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Tullow Oil upgraded to ‘buy’ at Bank of America Merrill Lynch

Oil and gas exploration company Tullow Oil has been upgraded and given a ‘buy’ rating by Bank of America Merrill Lynch (BofAML) with drilling on its flagship TEN project to resume next year. Previously rated ‘neutral’, BofAML upgraded the stock saying it offers a “compelling investment case”. The bank said the resolution of a border […]

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Oil producers agree to extend supply cuts

The world’s biggest oil producers have agreed to extend a deal to curb oil production throughout 2018 to shrink swollen stockpiles and keep prices above $60 a barrel. Saudi Arabia and Russia, whose combined production makes up a fifth of global supplies, have together led an effort by 24 countries inside and outside the Opec […]

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Oil producers agree to extend supply cuts, keep prices above $60 a barrel

The world’s biggest oil producers have agreed to extend a deal to curb oil production throughout 2018 to shrink swollen stockpiles and keep prices above $60 a barrel. Saudi Arabia and Russia, whose combined production makes up a fifth of global supplies, have together led an effort by 24 countries inside and outside the Opec […]

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Oil markets on tenterhooks ahead of Opec meeting in Vienna

Oil markets were cautious on Thursday ahead of an Opec meeting in Vienna, with producers set to debate an extension of the supply-cut agreement that came into effect in January with the goal of tightening supplies and propping up prices. The Organization of the Petroleum Exporting Countries (Opec) will be meeting at its headquarters in […]

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Royal Dutch Shell should face investigation, says Amnesty International

Royal Dutch Shell should face investigations in three countries for alleged complicity in Nigerian government abuses, including murder and rape, more than two decades ago in the oil-rich Niger River delta, Amnesty International has said. Authorities in Nigeria, the Netherlands and UK should investigate Shell’s conduct, especially in the Ogoni area of the southern delta, […]

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Ormonde’s flagship mining project to be commissioned in Q3 2018

Work on the flagship project of Irish-listed mineral resource company Ormonde Mining has ramped up with 100 people now working on the site. A construction update issued Tuesday for the Barruecopardo tungsten mine in Salamanca, Spain, said that a significant amount of construction work has begun and the project is expected to be commissioned in […]

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