Rising oil prices provide Iraq with new weapon

Article Abstract:

Saddam Hussein and Iraq have a chance to put a stranglehold on the rest of the world as they have the largest oil reserve of any of the OPEC countries.

International economic relations, Crude Petroleum, Iraq, Statistical Data Included, International trade, Petroleum, Illustration

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Venezuela seizes Total, ENI oil fields

Article Abstract:

Venezuela authorities have seized two oil fields owned by international interests after a deadline passed to cede majority ownership to state-owned Petroleos de Venezuela S.A. The two oil fields were owned by Total S.A. of France and ENI SpA of Italy. Five other international oil companies voluntarily gave up their petroleum interests after the seizure.

Italy, Foreign operations, Forecasts, trends, outlooks, France, Venezuela, Economic aspects, Eni S.p.A., TOTAL S.A., Industry forecasts, TOT, Industry overview

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Broader issues keep Gulf tensions high: Iran's release of 15 Britons brings relief, oil-price drop, but power struggle continues

Article Abstract:

Iran's release of 15 British marines and sailors captured in disputed waters has had a calming effect on the global oil market, but has increased concerns about Iran's political unpredictability, its potential involvement in the Middle East's armed conflicts, and the continuation of its nuclear program.

United Kingdom, International politics, Iran, Prisoners, International aspects, International relations, Military policy, Iranian foreign relations

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