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Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Tehran - Iran and Malaysia on Wednesday signed a multi-billion dollar contract to develop two offshore Iranian gas fields, officials said.
Iran's Pars Oil and Gas Company (POGC) and Malaysia's SKS signed the $6bn contract for development of Golshan and Ferdos gas fields at a ceremony in Tehran.
"The estimation for the investment for both the upstream and sweetening sectors of the project is about $6bn," Oil Minister Gholam Hossein Nozari said.
The project would be completed in about five and half years, he said.
Golshan's reserves amount to more than 50 trillion cubic feet (1.5 trillion cubic metres) of gas and it is expected to produce 2.5 billion cubic feet (70 million cubic metres) of natural gas per day.
Ferdos' gas in place stands at around 10 trillion cubic feet (285 billion cubic metres) and it would produce more than 880 million cubic feet (25 million cubic metres) of gas on a daily basis.
The contract comes amid mounting pressure on European and Asian energy giants not to cut business with Iran at a time of international tensions over its nuclear programme.
-AFP