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Russia is world's largest producer of crude oil and lease condensate

(Thu, 06 Aug 2015) Russia is the world's largest producer of crude oil (including lease condensate) and the second-largest producer of dry natural gas, after the United States. Hydrocarbons play a large role in the Russian economy, as revenue from oil and natural gas production and exports accounts for more than half of Russia's federal budget revenue. However, recent international sanctions on Russia, coupled with low oil prices, have put pressure on the Russian economy

UPDATE 1-China regulator orders inspections for green vehicles after bus fires

BEIJING, Aug 6 (Reuters) - China's industry regulator ordered automakers to inspect the safety of locally made environmentally friendly vehicles, saying the tests were necessary after some battery-powered buses had caught fire.

China regulator orders green vehicle makers to inspect for design flaws

BEIJING, Aug 6 (Reuters) - China's industry regulator ordered car makers to investigate design flaws and hidden dangers in the every day use of "new energy" and energy-saving vehicles, citing incidents of wholly electric and hybrid buses catching fire.

PetroChina supplier Wison says found guilty of bribery in China

HONG KONG, Aug 6 (Reuters) - Wison Engineering Services Co Ltd, a supplier to PetroChina, said it has been found guilty of bribery after an investigation by the Chinese government and ordered to pay a fine of 30 million yuan ($4.83 million).

UPDATE 1-Brazil judge sentences OAS executives in Petrobras corruption case

SAO PAULO, Aug 5 (Reuters) - Federal Judge Sergio Moro handed out more prison sentences on Wednesday, this time to executives in Brazilian construction firm OAS, which was ensnared in the country's biggest corruption scandal in history centered around state-run oil company Petrobras.

Brazil judge sentences OAS executives in Petrobras corruption case

SAO PAULO, Aug 5 (Reuters) - Federal Judge Sergio Moro handed out more prison sentences on Wednesday, this time to executives in Brazilian construction firm OAS, which was ensnared in the country's biggest corruption scandal in history centered around state-run oil company Petrobras.

Eletrobras to pay Petrobras in debt settlement, government says

BRASILIA/SAO PAULO, Aug 5 (Reuters) - Brazil's two largest energy companies, Eletrobras and Petrobras , settled a quarrel on Wednesday worth billions of dollars in late payments for fuel supplies, the government said.

Bank ends adviser role in blow for Adani's Australian coal mine

SYDNEY, Aug 6 (Reuters) - Commonwealth Bank of Australia , the country's largest lender, has ended its role as financial adviser to Indian conglomerate Adani Mining's multibillion dollar Carmichael Mine, a further blow to the controversial project.

Brazil's top prosecutor backed for new term midst Petrobras probe

BRASILIA, Aug 5 (Reuters) - Brazil's top prosecutor, who has put dozens of politicians under investigation for allegedly taking bribes in the Petrobras corruption scandal, has won the backing of his peers to stay on the job for two more years.

UPDATE 4-Obama defends Iran nuclear deal as U.S. diplomacy over war

WASHINGTON, Aug 5 (Reuters) - President Barack Obama defended the U.S.-led international nuclear deal with Iran on Wednesday against a furious lobbying effort by political opponents and Israel and said abandoning the agreement would open up the prospect of war.

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