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MALAYSIA-ECONOMY-BUDGET-NAJIB

Malaysia reduces growth forecast due to plunge in oil prices

Malaysia has trimmed its growth forecast mainly due to plunging oil prices. A miscalculated assumption has messed up the 2016 budget, which has the government groping for damage-control measures. One of the key outcomes were increasing the household spending of the country, which can give the sluggish economy a much-needed boost.

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Views Of Tankers & Refineries As Oil Trades Near 12-Year Low

Gasoline tumbles to 7-year low at $1.91/gallon

The average gasoline price fell to seven year low and is hovering at $1.91 per gallon in the US. If crude oil price continues to move upwards, then the gas price fall may rebound in the near future. According to AAA, the average may not go above $3 a gallon in 2016. Gasoline price fell 14 cents during the past two weeks.

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VENEZUELA-COLOMBIA-BORDER-SMUGGLING-SECURITY

Gasoline smuggling dents export revenues for Venezuela

South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.

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Views Of Tankers & Refineries As Oil Trades Near 12-Year Low

Oil Price is Still in Turbulence, While U.S. Reported Its Highest Level of Crude Inventories

Speculation over production cut and held the oil price to around $30 a barrel, but uncertainty still lingers. Meanwhile, U.S inventories are reported to reach its highest level of crude stockpile.

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Offshore Drilling Could Return To California If Lawmakers Approve Budget

US oil explorers anticipated to report a loss of $14 billion

US oil explorers are expected to report a combined loss of about $14 billion for the year 2015, as a result of the sharpest oil price slump in a generation. Bankruptcies and disappointing debt exchanges have led the oil explorers to cut thousands of staffs, trim dividends, and abandon drilling projects to preserve capital and resist insolvency.

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Report Claims 20 Percent Of US's Energy Could Come From Wind Power

US could cut CO2 emissions via reasonable energy transformation

The United States could reduce its greenhouse gas emissions from power production sector within the next 15 years by raising their investment in renewable resources like solar and wind, according to study findings.

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RUSSIA-FOREX-RUBLE

Russian Ruble Plunged To Record Low as Oil Price Keep Sinking

Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.

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SAUDI-OIL-ARAMCO

Part of Saudi Aramco’s Shares May Be Offered For International Investors

Aramco is the largest known oil producer in the world with a daily production of 10.25 MMbpd. KSA authority has increased feedstock prices to narrow down its budgetary deficits and also increases daily production rate to cope with the soaring demands. Now it is in efforts for Aramco’s listing for IPOs. If listed, Aramco will be the world’s first corporate entity with asset value of more than $1 trillion.

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Royal Dutch Shell Plc Fuel Stations As Profit Plunges At Least 42% On Oil Slump

Royal Dutch Shell to slash 10,000 jobs to trim costs

Royal Dutch Shell is slashing the headcount as part of the cost cutting exercise. Anglo-Dutch company has decided to cut down 10,000 jobs in the wake of continuous drop in oil prices. The global energy major aims at reduction of costs by $3 billion in 2016 and it already reduced operating costs by $4 billion in 2015. Shell is also banking on synergy advantages from the BG Group Plc merger, which is expected to be completed in few weeks.

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Views Of PetroChina Co. Gas Station Ahead Of Earnings Announcement

For Chinese Consumers, Oil Prices Halted At $40 Per Barrel Will Not Cut Down The Fuel Prices

The cutting down of the global crude oil in the world has not really influenced the Chinese consumers' retail fuel prices. The price remains the same as long as the price does not touch %40 per barrel.

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Saudi Foreign Minister Adel al-Jubei addressing media in Jordan

Oversupply hitting oil prices, not a secret plot: Saudi Arabia

Saudi Arabia has ruled out allegations that Iran has been targeted in the oil price war. Saudi Arabian foreign minister said that it's demand-supply situation that determines price in the global oil market. The low price is also hitting US shale oil, which involves high cost of production.

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CNOOC Drops Bid For Unocal

Vietnam warns China over oil rig drilling in disputed sea

Vietnam warned China against drilling an oil rig in borderline waters in the South China Sea. Vietnam's anxiety over the rig develops subsequent to a recent flight testing carried out by China on a fake island in Spratly archipelago.

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Views Of Largest U.S. Oil Hub As Stockpile Growth Slows

Never-ending oil price drop as US crude declines below $28

An unusual drop in US crude oil, below the already low $28 a barrel, created quite a stir in the market. It seems the oil prices are at a continuous plummeting spree. The current situation seems pretty bleak with supply exceeding demand to a great extent, especially after major oil exporter Iran came back into the scene.

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Views Of Japan Asia Group's Solar Power Plant

Japan approves 85,550 MW renewable energy project, bulk from solar power

Japan gave the go signal for the 2012 clean energy projects that could produce up to 85,550 megawatts of renewable power, the bulk of which is from solar energy.

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Inside The 2016 North American International Auto Show (NAIAS)

Audi And Mercedes Are The Latest To Caught By Hydrogen Fuel Cell Fever

Audi and Mercedes Benz, world famous German automakers have joined to express their interest for hydrogen fuel powered cell cars. Remaining one step ahead of Mercedes, Audi has already introduced its H-tron Quattro at the North American International Auto show, held at Detroit. Industry insiders assume, Mercedes, the lavish German carmaker will introduce its first hydrogen fuel cell car at the 2017 Frankfurt Auto Show.

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