Energy Update
PRAGUE, March 15 (Reuters) - Czech electricity producer CEZ expects its net profit to drop by 35 percent this year to 18 billion crowns ($739 million), mainly due to lower market prices and rising write-offs, the company said on Tuesday.
Claudiu Covrig reflects upon his visit to the new Etihad sugar refinery in Iraq and what it means for the country's future.
(Tue, 15 Mar 2016) Even though hydraulic fracturing has been in use for more than six decades, it has only recently been used to produce a significant portion of crude oil in the United States. This technique, often used in combination with horizontal drilling, has allowed the United States to increase its oil production faster than at any time in its history.
SYDNEY/WELLINGTON, March 15 (Reuters) - Australian shares dropped 1.3 percent on Tuesday, as recent weakness in oil and iron ore prices took a heavy toll on the resources sector, in contrast to New Zealand where stocks scaled a record peak.
WASHINGTON, March 14 (Reuters) - U.S. President Barack Obama, in an interview that aired on Monday, voiced concern about the struggling Venezuelan economy and said he did not want to see the country fail despite the tense relations between Washington and Caracas.
BENGHAZI, March 15 (Reuters) - Suspected Islamic State militants staged an attack on a power and water plant about 80km (50 miles) from the major Sarir oil field in eastern Libya late on Monday, an oil facilities guard said.
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