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Iraqi oil minister says $9 bln in arrears paid to foreign oil companies

BAGHDAD, Aug 25 (Reuters) - Iraq's oil minister said on Tuesday his country had paid foreign oil companies $9 billion in remaining arrears for 2014 and was paying 2015 arrears in stages until the beginning of 2016.

China oil rig to keep drilling in waters disputed with Vietnam

BEIJING, Aug 25 (Reuters) - A Chinese oil rig at the centre of last year's standoff between China and Vietnam will continue drilling not far from Vietnam's coast, China's maritime safety authorities said on Tuesday.

BUZZ-Gulf Marine Services: poised for record one-day gain on robust H1

** Gulf Marine Services up c.13 pct, heading to sharpest intraday gain ever & top gainer on FTSE small caps index

Iran expects new South Pars gas production to start in Oct -Shana

DUBAI, Aug 25 (Reuters) - Iran plans to bring online two new gas operations in October after the OPEC member completes development of another section of the world's largest gas field, its oil minister said on Tuesday.

BHP Billiton profit dives to 10-year low on commodities rout

MELBOURNE, Aug 25 (Reuters) - BHP Billiton reported a 52 percent slump in annual profit on Tuesday to a decade low, gutted by plunging iron ore, copper, coal and oil prices, and said it would cut spending more deeply to shore up dividends.

China lawmakers discuss new pollution bill, coal cap clause expected

BEIJING, Aug 25 (Reuters) - Chinese legislators are considering a new air pollution law that could give the state new powers to punish negligent local authorities and industrial enterprises and provide a legal mandate to impose caps on coal consumption.

Petrofac posts first-half loss hurt by Shetland Islands project costs

Aug 25 (Reuters) - Oilfield services company Petrofac Ltd posted a net loss for the first half, hurt by a steep increase in costs at its Laggan-Tormore project in the Shetland Islands.

Madagascar faces uphill struggle to revive bruised mining sector

ANTANANARIVO, Aug 25 (Reuters) - When foreign mining firms and Western donors were pulling funds out of Madagascar following a coup in 2009, Austral Resources chief executive Scott Reid did the opposite and poured money in to the Indian Ocean island.

UPDATE 1-Explosions at Afghan gas terminal kill 10 children, shake city

HERAT, Afghanistan, Aug 25 (Reuters) - A series of large explosions at a gas terminal on the edge of the western Afghan city of Herat late on Monday killed 10 children and an adult living in a camp for people displaced by war.

Oil pipeline threats add to pressure on Azerbaijan

Oil-rich Azerbaijan is being rattled by disruption and attacks on pipelines, highlighting its tough geopolitical position and adding to worries about falling oil prices.

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