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Iran oil exports show steady increase as Asia buys more

Iran exported oil at levels higher than allowed under Western sanctions for a fourth straight month in February with ship loading data obtained by Reuters showing top clients again bought more than 1 million barrels per day (bpd).
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Gold Drops to 1-Week Low Before Federal Reserve Decision

Gold fell to a one-week low in London on speculation the U.S. Federal Reserve will continue cutting stimulus as the economy strengthens, curbing demand for the precious metal as a haven.
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South Africa's Xstrata, Japan's NSSC begin talks for Q2 ferrochrome term deals

Negotiations between South Africa's Xstrata Alloys and Japan's Nippon Steel & Sumikin Stainless Steel Corp. for ferrochrome contracts for the second quarter of 2014 started last week, one of the participants in the negotiations said Tuesday.
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China's MMG confirms in talks to buy Glencore's Peru copper mine

China's MMG Ltd confirmed on Wednesday it was in talks with Glencore Xstrata to buy the Las Bambas copper mine in Peru, an acquisition expected to cost more than $5 billion, but said there was no guarantee a deal would be agreed.
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Vessel with rice containers arrives

This is the first shipment of rice arriving at the Kochi port in containers and is part of Food Corporation of India efforts to shift rice transport to the sea route.
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US oil production reaches highest levels in 24 years

US oil production reaches highest levels in 24 years | Commodity News | Scoop.it
The business of America is oil, and business is booming. Government data shows that U.S. crude oil production for 2013 reached its highest levels since 1989, averaging 7.5 million billion barrels per day.
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Government officials oppose transfer of coal-bearing land to private companies

The land acquisition law has become as a big hurdle for private companies with coal blocks as sections of the government have cited the statute to oppose transfer of adjoining land owned by state firms to private firms, which need it for mining operations.
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Chevron Brazil oil-drilling permission depends on report delivery -regulator

Permission for Chevron Corp to resume drilling and water injection at its Frade offshore field in Brazil is being held up by the company's failure to deliver a full report on the causes of a 2012 oil seepage, the head of Brazil's oil regulator said on Thursday.
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Shell says Nigerian oil theft costs billions

Shell says Nigerian oil theft costs billions | Commodity News | Scoop.it
Royal Dutch Shell lost nearly $1 billion through theft and various disruptions to its Nigerian oil and liquefied natural gas (LNG) operations in 2013 and said that rampant oil theft is costing the country even more.
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RI to pocket $2.28b from new gas deals: SKKMigas

RI to pocket $2.28b from new gas deals: SKKMigas | Commodity News | Scoop.it
The Upstream Oil and Gas Regulatory Task Force (SKKMigas) said the state would be able to earn US$2.28 billion from six newly signed delivery contracts supplying domestic buyers.
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Vale, Braskem to enter cap-and-trade simulation in Brazil

Some of the largest Latin American corporations including mining company Vale and financial conglomerate Itau Unibanco, will take part in a nine-month simulation of a cap-and-trade system in Brazil starting on Friday.
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POSCO to revamp non-steel ops, shun major steel investment

POSCO's (005940.KS) new chief executive said the South Korean steelmaker will sell non-core assets and list some affiliates to shore up its balance sheet, shying away from major new investments in a marked break from his predecessor's strategy.
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ArcelorMittal to invest $15 mn in Brazil for special steel

The world's largest steel-maker ArcelorMittal is investing USD 15 million at its Brazil facility to produce specialised high strength steel for automotive industry by next year.
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Petrobras says platform P-58 begins operation in Parque das Baleias

Petrobras said Tuesday production platform P-58 began operation Monday in the Parque das Baleias complex off the coast of Espirito Santo state in the Campos Basin.
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Jindal to stop buying metallurgical coal from Australia in three months

Jindal to stop buying metallurgical coal from Australia in three months | Commodity News | Scoop.it
Jindal Steel and Power Ltd(JNSP.NS) will stop buying coking coal from Australia in three months from now as its own mines there start shipping, a top company official said, a move that could further soften prices of the commodity.
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Ascot Resources aquires iron ore project

SHARES in Ascot Resources have risen after the minerals explorer signed a $2 million deal to acquire the Wonmunna Iron Ore Project in the Pilbara region of Western Australia.
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Sesa Sterlite's copper smelter to be shut for 22 days

Sesa Sterlite's copper smelter to be shut for 22 days | Commodity News | Scoop.it
Sesa Sterlite Ltd has decided to shut its smelter for 22 days starting from April 26.
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BP Reaches Administrative Agreement with EPA Resolving Suspension and Debarment - PR

BP today announced that it has entered into an administrative agreement with the United States Environmental Protection Agency (EPA), on behalf of the federal government, resolving all matters related to the suspension, debarment and statutory disqualification of BP following the Deepwater Horizon accident and oil spill.
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Fears of possible Chinese ban on lower grade thermal coal imports loom

Fears of China moving to ban the import of lower grade coal have again resurfaced amid concern over the country's high pollution levels, with several market participants indicating that the government is seriously contemplating such a move this year.
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Turkey not option for Israeli gas until 2030: industry expert

Turkey is not likely to be an option for Israeli gas exports until 2030 as the Turkish market could be over-supplied by the time Israel's huge offshore Leviathan gas field starts producing in 2017, a senior energy industry consultant said late Wednesday.
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FG pays N41bn to 27 oil marketers

The Federal Government on Thursday released the sum of N41.074bn as fuel subsidy payment to 27 oil marketers.
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Pacific Rubiales back in black in 4Q13

Pacific Rubiales back in black in 4Q13 | Commodity News | Scoop.it
Colombia's private oil and gas firm Pacific Rubiales (TSX: PRE) posted net income of US$143mn in 4Q13 compared to a net loss of U$23.8mn in 4Q12.
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SDARI launches new VLOC design

Shanghai Merchant Ship Design & Research Institute (SDARI) has unveiled a new design for very large ore carriers (VLOCs) with better fuel efficiency and fewer emission.
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UC RUSAL to switch nearly 2.1 mln tonnes of production capacities in Russia to EcoSoederberg technology - PR

UC RUSAL to switch nearly 2.1 mln tonnes of production capacities in Russia to EcoSoederberg technology - PR | Commodity News | Scoop.it
UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), a leading, global aluminium producer, announces the current status of EcoSoederberg technology introduction programme.
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South Africa Steel Industry Seeks ‘Realistic’ Wage Negotiations

South Africa’s metals and engineering companies are calling for workers to limit their demands as Africa’s biggest economy slows, ahead of negotiations this month with the country’s largest union.
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