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Energy

Dubai utility enhances efficiency of transmission network
The Dubai Electricity and Water Authority (Dewa) is moving forward with a series of planned projects to develop, install and launch new substations in different areas of Dubai.
ONGC said to block China in Brazil with Shell
Rakteem Katakey and Eduard Gismatullin
Brent crude steadies above $108
Brent crude steadied above $108 a barrel on Wednesday as world powers held talks to eliminate Syria’s chemical weapons — easing concerns that oil supply from the Middle East would be at risk.
Oil slips to $112 as Middle East war fears ease
Brent crude oil fell to around $112 a barrel on Friday as the US and Russian foreign ministers met in Geneva to work out a deal to avert a Western military strike on Syria, easing fears of a wider war in the Middle East.
India hikes petrol price by Rs1.63
Petrol will cost Rs1.63 more a litre in India, excluding state taxes, from midnight Friday, state-run Indian Oil Corporation (IOC) announced.
Qatar Petroleum seeks funds for $12b plans
Qatar Petroleum is asking banks to help fund $12 billion for two petrochemical plants next year, the state energy company’s biggest investment since 2011.
Jubail refinery exports from Sept: Aramco
Saudi Arabia’s 400,000 barrel per day Jubail refinery has started operations and will export its first oil products cargo this month, Saudi Aramco’s joint venture with France’s Total said on Thursday.
Egypt owes oil firms $6 billion: PM
Egypt is close to agreeing a schedule for repaying $6 billion in outstanding debt to foreign oil companies, Prime Minister Hazem El Beblawi said in a newspaper interview published on Thursday.
IEA sees less need for Opec crude in 2014 on US supply
The International Energy Agency cut estimates for the amount of crude Opec will need to provide next year as supplies from North America surge.
Saudi ready to meet world demand
The global oil market is well balanced and top exporter Saudi Arabia ready to supply whatever volume of crude is needed to meet demand, Saudi Oil Minister Ali Al Naimi said on Thursday.
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