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Oil shrinks, boards plot different paths out of crisis

A Chevron gas station is seen in Cardiff, California January 25, 2016. REUTERS/Mike Blake

As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of ...

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US Presidnt to seek new taxes on oil in budget proposal

U.S. President Barack Obama walks past a pumpjack in Maljamar

U.S. President Barack Obama will launch a long-shot bid next week to impose a $10-a-barrel tax on crude oil that would fund the overhaul of the nation’s aging transportation infrastructure, the White House said on Thursday.   The proposed fee, which would be paid by oil companies and phased in ...

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Karachi Stock Exchange (KSE) Market Position

Pakistan Stock Exchange Limited (PSX) (formerly: Karachi Stock Exchange (Guarantee) Limited (KSE) was established on September 18, 1947. It was incorporated on March 10, 1949. Only five companies were initially listed with a total paid-up capital of 37 million rupees. The first index introduced in KSE was based on fifty ...

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Asian shares Market fall as crude resume slump

Asian shares fell on Tuesday as crude oil prices slid on oversupply fears and after downbeat manufacturing data raised concerns about sluggish global economic growth. Spreadbetters predicted European bourses would follow Asia lower, with IG predicting Britain’s FTSE 100 .FTSE would start trading down 0.6 percent. Germany’s DAX .GDAXIwas seen ...

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Petrolium Price will fall Rs5 Per Litre,PM

oil price

ISLAMABAD: Prime Minister Nawaz Sharif has announced Rs5 per litre cut in petroleum product prices with effect from February 01,2016. The Premier announced reduction in petrol, diesel and other POL prices while talking to media here Saturday. The Oil and Gas Regulatory Authority (Ogra) has recommended to the government to ...

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US economic growth slows down sharply

US Economy

The US economy grew at an annualised rate of 0.7% in the fourth quarter of 2015 compared with the same quarter a year ago, official figures show. The rate of growth marks a sharp slowdown from the 2% growth recorded in the previous quarter. The US Commerce department said one ...

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