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Iraq executes 12 ‘terror’ convicts, says judicial official

The growing resort to the death penalty comes as violence in Iraq has reached a level not seen since 2008. — AFP The growing resort to the death penalty comes as violence in Iraq has reached a level not seen since 2008. — AFP BAGHDAD, Nov 18 — Iraqi authorities have executed 12 men convicted of crimes related to “terrorism”, a senior judicial official said today, amid widespread international condemnation against Baghdad’s use of the death penalty. “Yesterday (Sunday), we executed 12 convicts,” the official told AFP on condition of anonymity. “All of them were Iraqi men accused of terrorism.” The latest executions bring the number of people who have been put to death in Iraq this year to at least 144, compared to 129 executions in all of 2012, according to an AFP tally based on reports from the justice ministry and officials. Among them were 42 convicts […]

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Saudi Arabia Won’t Make ‘Sharp’ Oil Output Cuts, Al Rajhi Says

Saudi Arabia is not expected to make “sharp” cuts to its crude production in November and December, Al Rajhi Capital said. “Any meaningful decline in the kingdom’s oil production will take place only when the majority of Libyan oil production comes back and Iranian oil production starts rising,” the investment arm of the nation’s biggest bank by market value said in an e-mailed report today. Saudi Arabia is burning more fuel oil at power plants instead of crude this year, “which means that the seasonality impact on crude production will be smaller in winter,” the investment bank said. To contact the reporter on this story: Wael Mahdi in Manama at [email protected] To contact the editor responsible for this story: Stephen Voss at [email protected]

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Lebanon blasts near Iran's embassy in Beirut

Breaking news 19 November 2013 Last updated at 08:22 Seven people have been reported killed as explosions struck near the Iranian embassy in the Lebanese capital Beirut. Conflicting reports say the blasts could have come from rockets or a car bomb. Several buildings were damaged, eyewitnesses said. Iran is a major backer of the Lebanaese Shia militant group Hezbollah, which has sent fighters to Syria to back the government of Bashar al-Assad. The conflict in Syria has worsened sectarian tensions in Lebanon. The area around the Iranian embassy, in south Beirut, is considered a Hezbollah stronghold. On 15 August, 16 people were killed in a blast in south Beirut. Hezbollah fighters were instrumental in a strategic victory by Syrian government forces in Qusair, close to the border with Lebanon, in early June.

Posted On : Published By : Tom Whipple
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Lebanon blasts near Iran’s embassy in Beirut

Breaking news 19 November 2013 Last updated at 08:22 Seven people have been reported killed as explosions struck near the Iranian embassy in the Lebanese capital Beirut. Conflicting reports say the blasts could have come from rockets or a car bomb. Several buildings were damaged, eyewitnesses said. Iran is a major backer of the Lebanaese Shia militant group Hezbollah, which has sent fighters to Syria to back the government of Bashar al-Assad. The conflict in Syria has worsened sectarian tensions in Lebanon. The area around the Iranian embassy, in south Beirut, is considered a Hezbollah stronghold. On 15 August, 16 people were killed in a blast in south Beirut. Hezbollah fighters were instrumental in a strategic victory by Syrian government forces in Qusair, close to the border with Lebanon, in early June.

Posted On : Published By : Tom Whipple
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Nigeria oil production, GDP increases

ABUJA, Nigeria, Nov. 18 (UPI) — The Nigerian National Bureau of Statistics said crude oil production increased more than 7 percent from the second quarter to 2.26 million barrels per day. NBS released data for the third quarter of the year. It said crude oil production increased 7.1 percent from the second quarter to average 2.26 million bpd for the third quarter, Nigerian newspaper ThisDay reported Monday. The Organization of Petroleum Exporting Countries said Nigerian crude oil production for October was 1.8 million bpd. NBS said Nigeria’s gross domestic product increased to 6.81 percent for the third quarter, up from the 6.18 percent reported for the second quarter. The bureau said third quarter GDP growth was attributed largely to economic sectors not related to oil. A July report from the Extractive Industry Transparency Initiative estimated Nigeria lost $10.9 billion in oil revenue to theft and sabotage from 2009 to […]

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Kurdistan sets stage for independent exports

Kurdistan sets stage for independent exports As Iraq’s autonomous Kurdistan region nears completion of its direct oil export pipeline to Turkey, the government has finished laying a legal foundation that could, in effect, give it economic independence from Baghdad.The Kurdistan Regional Government’s (KRG) Minister of Martyrs and Anfal Affairs said Monday that Iraq’s federal government owes $384.7 billion in reparations for acts committed against the country’s Kurdish population.”This is one of the rights of the Kurds,” said Sabah A… This content is for registered users. Please login to continue. If you are not a registered user, you may purchase a subscription or sign up for a free trial .

Posted On : Published By : Tom Whipple
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Ecuador Spent $2.77 Billion on Fuel Subsidies During January-Sept

By Mercedes Alvaro QUITO–Ecuador spent about $2.77 billion on fuel subsidies for the January-September period, including high-octane naphtha, diesel and gas for cooking, the central bank said. The amount represents a 13% increase from the same period last year. During the first nine months of 2013, Ecuador imported a total of $4.14 billion in oil derivatives. Of the total spent on oil subsidies, about 49% went to diesel, 36% to high-octane naphtha and 15% went to cooking gas. According to official data, the main beneficiaries of the subsidies in Ecuador are high-income earners, due to their energy-consumption levels. Last year, the government spent about $3.4 billion in fuel subsidies. Currently, the government is reviewing its policy of subsidizing fuel to refocus the approach. Patricio Rivera, minister coordinator for Economic Policies, said recently in an interview the option to refocus fuel subsidies would be to set consumption quotas, and those […]

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Attorney Takes Stand in Chevron Case

New York lawyer Steven Donziger was the mastermind behind a litigation team that spent more than $21.4 million to allegedly extort billions from Chevron Corp. CVX +0.42% Chevron Corp. U.S.: NYSE $ 120.56 +0.50 +0.42% Nov. 18, 2013 4:02 pm Volume (Delayed 15m) : 4.74M AFTER HOURS $ 120.50 -0.06 -0.05% Nov. 18, 2013 5:14 pm Volume (Delayed 15m): 50,618 P/E Ratio 9.79 Market Cap $230.90 Billion Dividend Yield 3.32% Rev. per Employee $3,588,150 11/18/13 Attorney Takes Stand in Chevro… 11/15/13 Ecuador Seeks Suspension of Ch… 11/15/13 Chevron is Having a Very Bad W… More quote details and news » CVX in Your Value Your Change Short position over environmental damage claims in Ecuador’s Amazon Basin, a lawyer for the oil giant said Monday. Mr. Donziger took the stand in federal court in Manhattan to defend himself against racketeering charges brought by Chevron. Observers in the packed courtroom included […]

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Fight begins over privatizing Mexico's oil monopoly

Mexico oil MEXICO CITY (AP) — The fight to revamp Mexico’s moribund, state-run oil industry could start as early as this week with a Senate proposal to allow private access to the country’s oil, a nationalist symbol that for decades has been fiercely protected by the constitution from possible profiteering by foreign companies. Legislators from the two parties supporting an oil overhaul say they support constitutional changes to allow the government to grant licenses and share oil and profits with multinational giants such as Exxon or Chevron. The anticipated proposal would go much further than the plan introduced by President Enrique Pena Nieto in August, which would have allowed the sharing of profits but not of oil. Javier Trevino, a legislator from Pena Nieto’s Institutional Revolutionary Party, said his party has struck an agreement after several weeks of talks with the opposition National Action Party, which has favored stronger […]

Posted On : Published By : Tom Whipple
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Fight begins over privatizing Mexico’s oil monopoly

Mexico oil MEXICO CITY (AP) — The fight to revamp Mexico’s moribund, state-run oil industry could start as early as this week with a Senate proposal to allow private access to the country’s oil, a nationalist symbol that for decades has been fiercely protected by the constitution from possible profiteering by foreign companies. Legislators from the two parties supporting an oil overhaul say they support constitutional changes to allow the government to grant licenses and share oil and profits with multinational giants such as Exxon or Chevron. The anticipated proposal would go much further than the plan introduced by President Enrique Pena Nieto in August, which would have allowed the sharing of profits but not of oil. Javier Trevino, a legislator from Pena Nieto’s Institutional Revolutionary Party, said his party has struck an agreement after several weeks of talks with the opposition National Action Party, which has favored stronger […]

Posted On : Published By : Tom Whipple