Mediterranean Sea News
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West Texas Intermediate crude fell a second day, reversing a third weekly gain, as rising supplies countered signs of economic growth.
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Royal Dutch Shell Plc, Exxon Mobil Corp., Petroleo Brasileiro SA and Total SA all obtained tender documents allowing them to bid for exploration licenses off Lebanon, according to the country’s industry regulator.
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Glencore Xstrata Plc bought a cargo of North Sea Forties crude at the highest differential in more than two months.
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Ratio Oil Exploration 1992 LP, a partner in Israel’s Leviathan natural gas field, dropped the most in almost two weeks on concern a new share sale would dilute investors’ holdings.
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Charter rates for the largest oil tankers hauling Middle East crude to Asia had this year’s biggest weekly advance on continued demand to book vessels.
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ACWA Power International, a Saudi Arabian power plant developer, started work on building a 160 megawatt concentrated solar thermal facility in Morocco, it said in an e-mailed statement today.
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Egyptian Natural Gas Holding Co. awarded eight gas-exploration licenses and will open bidding for at least 10 more this year as the North African country seeks to increase its fossil-fuel reserves.
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Noble Energy Inc.’s Chief Executive Officer Charles Davidson would reconsider the U.S. company’s investments in Israel if the government raises the issue of tax rates on natural resources.
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Israel started gas production at the Tamar offshore field in an effort to put the country on the road to energy independence and save a projected 1 billion shekels ($274 million) a month, according to the government.
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Israel should take its geopolitical situation into account when deciding how much of its newly flowing gas to export, said Bank of Israel Governor Stanley Fischer, who didn’t elaborate on how the sales should be allocated.
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