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China's coal-, methanol-to-olefins profitability under pressure as crude prices remain low

With crude oil prices lingering at levels not seen in over a decade, do coal-to-olefins and methanol-to-olefins processes still hold a competitive edge against naphtha-based production?

PSCs could stem output decline, ease funding crunch

Nigeria needs to urgently revise the contracts governing its onshore oil blocks if it wants to stem the decline of production in a low oil price environment, the head of Oando said recently.

Russia will only sell control of Bashneft if paid premium - source

MOSCOW, Feb 18 (Reuters) - The Russian state could sell only around 25 percent in mid-size oil company Bashneft if the likely buyer fails to offer a significant premium to the market price, a senior Russian government source said.

S&P becomes third agency to downgrade Anglo American's debt

Feb 18 (Reuters) - Global miner Anglo American Plc's credit rating was downgraded by Standard & Poor's on Thursday, making it the third agency to do so this week.

UPDATE 5-Oil extends rally towards $35 after Iran welcomes output freeze

* EIA supply report due later on Thursday (Updates prices, adds quotes, changes dateline from SINGAPORE)

AirAsia CEO: cheap oil paves way to revive expansion

SAN FRANCISCO, Feb 18 (Reuters) - With low oil prices reducing its operating costs, AirAsia Chief Executive Tony Fernandes said the budget carrier was ready to start expanding again in southeast Asia and was eyeing Vietnam and the Philippines.

MHI Vestas to provide turbines to Belgium's largest wind farm

COPENHAGEN, Feb 18 (Reuters) - MHI Vestas, a joint venture between Vestas and Japan's Mitsubishi Heavy Industries , said on Thursday it would likely supply turbines to Belgium's largest wind farm project.

Tullow Oil finds potential issue at Ghana field, shares drop

Feb 18 (Reuters) - Oil producer Tullow Oil Plc said there was a potential issue with a storage vessel at its flagship Jubilee field in Ghana, sending shares down more than 7 percent on Thursday morning.

India's Reliance set to lift Iran oil after 5-yr hiatus -source

NEW DELHI, Feb 18 (Reuters) - India's Reliance Industries Ltd, owner of the world's biggest refining complex, is preparing to lift oil from Iran next month after a gap of about five years, said an industry source with knowledge of talks between the two.

UAE says oil price will force producers to freeze output

DUBAI, Feb 18 (Reuters) - Oil prices are not suitable and will force producers to freeze their output, the United Arab Emirates' energy minister Suhail bin Mohammed al-Mazrouei said on Thursday, adding investments in high-cost production would also be restrained.

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