US lifts 40-year ban on oil exports, agrees to light oil exports

US lifts 40-year ban on oil exports, agrees to light oil exports

By Anna Domanska - Jan 02, 2015

For the first time in 40 years, the U.S. government has officially allowed the shipment of as much as a million barrels per day of ultra-light crude, also known as condensate essen

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Venezuela Prepares to Nationalize its Gold Industry

Venezuela Prepares to Nationalize its Gold Industry

By Carrie Ann - Aug 18, 2011

In a move aimed at halting illegal mining as well as boosting the country’s gold reserves, Venezuelan President Hugo Chavez has announced plans of taking over Venezuela’s l

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IEA, Obama admin counter Libya hold-up by releasing oil reserves

IEA, Obama admin counter Libya hold-up by releasing oil reserves

By Vrushti Mawani - Jun 24, 2011

The International Energy Agency (IEA) announced on Thursday, the release of 60 million barrels of oil from global reserves. Primarily being touted as a move to counter the oil shor

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OPEC Impasse Leaves Output Levels Unchanged. Oil Prices Soar

OPEC Impasse Leaves Output Levels Unchanged. Oil Prices Soar

By Carrie Ann - Jun 09, 2011

An organization known for the high value they place on consensual decision-making, OPEC admitted after the cartel’s meeting that they had left output levels unchanged due to lack

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OPEC meeting to focus on output quotas and triple-digit oil prices

OPEC meeting to focus on output quotas and triple-digit oil prices

By Carrie Ann - Jun 06, 2011

The Organization of Petroleum Exporting Countries (OPEC), scheduled to convene in Vienna on Wednesday, is likely to face significant pressure towards increasing output, in a meetin

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