Royal Dutch Shell PLC Monday said it was exiting its Libyan exploration blocks amid insecurity and harsh contracts, the first such move since Gadhafi’s overthrow. The Anglo-Dutch giant insisted it was still interested in the country, which holds Africa’s largest oil reserves
Russia has been pumping hundreds of thousands of barrels of oil per day more than Saudi Arabia and is confident it can increase output year on year, Energy Ministry data showed, contradicting a report the kingdom has become the world’s biggest producer.
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