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According to the study. a fully renewable electricity system could be roughly 50-60% cheaper than other emission-free energy options for the MENA region.

The chemical industry is very important for Azerbaijan.

Imports into China from non-OPEC countries has risen from just 34 percent to 43 percent over the last five year.

Iran has planned to issue tenders on 49 oil and gas fields based on newly designed agreements.

Schlumberger is to invest nearly $400million in a shale field in South America.

The global oil market is close to balance after nearly three years of excess supply.

Saudi Aramco plans to supply full volumes of crude to least six buyers in Asia in May.

EIA’s forecast for 2018. in contrast. increased compared to the previous outlook. when it was at 40.2 million barrels per day.

The price of OPEC basket of 13 crudes stood at $53.13 a barrel on Apr. 10 compared to $52.91 on Apr. 7.

A final decision will depend on how the situation in the oil market develops in April and on forecasts for May and June.