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Legal bid to halt a $2-3bn Egypt-Israel gas export deal
A Egypt-Israel $2-3bn gas export deal has been challenged by the Egyptian ex director of international treaties,Ibrahim Yossri, on the grounds that it is illegal and costly. Egypt -the sixth largest exporter of...RI to quit OPEC amid world oil price hikes
"While polemics were going on on its plan to increase domestic fuel oil prices prompted by world crude price hikes, the Indonesian government came up this week with an idea to quit the Organization of Petroleum Exporting Countries (OPEC).The idea is plausible. Indonesia is no...
OPEC-style rice cartel up
This exemplifies greatly how food can be used as a political tool."The countries of Burma (Myanmar), Cambodia, Laos, Thailand and Vietnam have agreed in principle to form a rice price-fixing cartel similar... Non-fundamental factors main cause of oil price fluctuation, OPEC
"Non-fundamental factors are the main cause of the current fluctuations in the world crude oil price, a governor of the Organization of Petroleum Exporting Countries (OPEC), Maizar Rahman, said.The present downturn in the oil price was caused by a recovery in the US dollar`s...OPEC could ditch dollars for euros: chief
London (ANTARA News) - OPEC could switch the pricing of oil from dollars into euros within a decade, secretary general Abdullah al-Badri was quoted by AFP as telling a weekly magazine.The Organization of the Petroleum Exporting Countries could adopt the euro to combat the...OPEC crude price continues to drop
Vienna (ANTARA News) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by 1.37 dollars, continuing a downward trend, officials said WednesdayOne barrel (159 litres) of OPEC crude stood at 83.84 dollars on Tuesday,...OPEC under pressure to act in face of 100-dollar oil: analysts
""It (the 100-dollar record) will be a psychological trigger for consumer countries," said global head of commodities at investment bank Societe Generale Frederic Lasserre."We will see governments putting pressure on OPEC, saying 'we need you to do something for us'. In the... Greed Stampede
Normally, I am never at a loss for words on any topic, this time News Columnist Eric Margolis takes the words right out of my mouth."Western nations have been rightly scourging China for flooding world markets with... Oil prices breach 99 dollars
Singapore (ANTARA News) - Oil prices rose above 99 US dollars per barrel in Asian trade on Wednesday, within striking distance of the 100-dollar level as the greenback slumped further, dealers said. Concerns over tight global supplies was also helping push prices up, they...Dollar at increased risk of losing status as a reserve currency
"Venezuela's Communist leader Hugo Chavez and Iran's Mahmoud Ahmadinejad, speaking at the Organization of Petroleum Exporting Countries (OPEC) summit in Riyadh, said they no longer want be paid in U.S. dollars for their petroleum, but in euros.The outspoken US political...Oil prices higher in Asian trade on concern over tight supplies
Singapore (ANTARA News) - Oil prices were higher in Asia on Monday as traders again fretted over tight energy supplies with the northern hemisphere winter approaching. Indications that the Organization of Petroleum Exporting Countries is not about to raise output were also...OPEC's lost sway over oil prices
"Cairo - A rare meeting of the heads of state of the Organization of Petroleum Exporting Countries (OPEC) in Saudi Arabia this weekend was predictably focused on prices. But the price most often discussed wasn't the cost of oil, but rather the plummeting US dollar. As oil...VP: Switch from dollar to euro in oil transactions must be discussed first
"Vice President M Jusuf Kalla said Indonesia agreed to Iran`s proposal that oil transactions would be carried out in the euro or in any other currency, and no longer in the US dollar, but further discussions on the...Third OPEC summit winds up
"The 3rd Summit of the Organization of Petroleum Exporting Countries (OPEC) was concluded on Sunday afternoon with the issuance of a declaration on "Challenge of Globalization and Dynamic Global Energy Market...Preparation for hajj pilgrimage completed, VP says
"Organizing hajj pilgrimage is actually an ordinary activity which has taken place for the past ten years, the vice president said, adding that however, the Indonesian government`s portion in organizing hajj...
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