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London (Platts) -- 6Feb2009 -- The European naphtha-benzene spread slumped to around minus $48.5/mt onThursday, a decline of $61.50/mt from Tuesday's level of plus $13/mt,according to Platts data. The slump in the value of benzene...

Oil prices climbed to a 15-month high above $83 a barrel on Monday, as data showing China's crude oil imports surged by nearly 25% in December and the US dollar weakened, Reuters has reported. US crude for February delivery rose 67 cents to $83.42 a barrel by 0958 GMT, off an earlier peak of $83.67, the highest price since October 2008.

Dubai-based Emirates National Oil Company (ENOC) has said it has suffered months of losses as a result of rising costs for crude oil, and called for an end to federal price limits on petrol prices, The National has reported. The federal government should either offer direct subsidies for retailers to cover their losses or let the petrol price rise, ENOC's chief executive, Saeed Khoory said

Egypt is mulling the import of natural gas from Iraq through the pipeline that the country currently uses to export its own natural gas to Jordan, Lebanon and Syria, known as the Arab pipeline, Daily News Egypt has reported. Sameh Fahmy, petroleum minister has reportedly told the energy committee of the ruling National Democratic Party that importing gas from Iraq now would take advantage

The contract for Dubai's first independent water and power project (IWPP) will be awarded by Dubai Electricity & Water Authority (Dewa) in the first quarter of 2011, Meed has reported. The IWPP replaces Dewa's previous long-standing plans to build the Hassyan 1 power and water plant on an engineering, procurement and construction basis. The Hassyan IWPP will have a capacity of 1,500MW

Abu Dhabi-based International Petroleum Investment Co. (Ipic) has increased its stake in Austria's OMV Aktiengesellschaft to 20% from 19.6%. IPIC and Austria's investment and privatization agency ÖIAG, OMV's other core shareholder, together now hold 51.7% of all voting rights, OMV said in a statement.