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Low oil price hits $200 billion in mega-projects

Deepwater oil projects and complex gas facilities worth around $200 billion have been canceled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on ...

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UAE prices of steel and building material dropped due to low oil price

UAE based steel and building material suppliers are seeing a dramatic drop in prices due to low oil price. Mr Abdullah Al Gurg, Group GM of Easa Saleh Al Gurg Group said that “We have a large stock of steel ...

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Low oil price offer a lifeline for small iron ore miners

Recent slump in freight rates, largely due to a collapse in bunker fuel prices, is saving the small iron ore miner as much as USD 16 per tonne, almost a quarter of the current iron price. This, coupled with the ...

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