 | Ireland back in recession
IRELAND´S economy sank back
into recession in late 2011
despite recovering to show its
first annual growth for four
years, mixed official data
showed on Thursday.
Irish gross domestic product
(GDP) shrank 0.2 percent in the
fourth quarter after a contraction
of 1.1 ...
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| | Lukoil, Samsung in deal
to develop Iraqi oilfield |  LUKOIL signed a $1 billion
deal with South Korea´s
Samsung Engineering on
Thursday to develop Iraq´s
second-biggest oilfield, in
which the Russian energy
giant has a majority stake.
The agreement is part of
efforts to increase to 1.8 million
barrels per day (bpd) crude
output at the West Qurna-2
field in the south of the country,
which has known reserves
of 12.876 billion barrels.
"The contract is worth
$998 million," said oil ministry
spokesman Assem
Jihad, after a signing ceremony
attended by Oil Minister
Abdelkarim al Luaybi,
Samsung vice president Park
Ki-Seok and Lukoil Middle-
East Ltd´s Iskander Nasyrov.
The contract requires
Samsung to ... | | | Shell inks China´s first shale gas deal |  GLOBAL oil major Royal
Dutch Shell said it signed a
production sharing contract
with China National Petroleum
Corporation to develop a shale
gas block in China, the first
deal of its kind in the country.
China is in the very early
stages of tapping its potentially
large shale gas resources
and the government wants to
identify the right technology
to unlock them in the next few
years, aiming for a leap in
shale production by 2020.
"China has huge shale gas
potential and we are committed
to making a contribution
in bringing that potential into
reality," Shell CEO Peter
Voser said in the statement.
China´s top energy agency,
the National Energy
... | | | Eurozone private sector data
slips, adds to recession fears |  KEY eurozone survey
released on Thursday
dropped to a three-month
low in March, adding to
signs that the 17-member
currency bloc has slumped
into recession.
The London-based Markit
economic research group
said its composite purchasing
managers´ index (PMI)
for the eurozone fell deeper
into recession territory in
March - declining for the second
consecutive month, to
48.7 from 49.3 in February.
"The eurozone economy
contracted at a faster rate in
March, suggesting that the
region has fallen back into
recession," said Markit´s chief
economist Chris Williamson
releasing the survey.
The release of Markit´s
PMI survey came ... | |
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