World Bulletin / News Desk
Venezuelan firefighters completely extinguished a blaze at the country's largest refinery on Tuesday, state oil company PDVSA said, following a blast that killed nearly 50 people in one of the most deadly oil industry accidents in decades.
The 645,000-barrel-per-day facility could restart operations on Friday, Energy Minister Rafael Ramirez told Reuters in an exclusive interview on Monday.
The explosion on Saturday at Amuay killed 48 people and helped pushed up U.S. fuel prices in markets that were already bullish because of a threat that Tropical Storm Isaac could disrupt refinery operations on the U.S. Gulf Coast.
Traders say the impact on fuel markets may continue even after Amuay is up and running again. Tank farm accidents often cause problems with gasoline blending, which means PDVSA may have to boost imports.
Chavez said at the scene on Monday that he was creating a fund worth about $23 million to help pay for clean-up operations and replace homes destroyed by the pre-dawn blast.
It was one of the most deadly oil industry accidents in recent years, nearing the toll of the 1997 fire at India's Visakhapatnam refinery that killed 56 and topping the 2005 blast at BP Plc's Texas City refinery in which 15 people died.
A fifth payment of $450 million was due on April 15, contingent on Iran having diluted half of its most sensitive stockpile of nuclear materials
The year-on-year inflation rate in the 18 countries sharing the euro was 0.5 percent in March against 0.7 percent in February, the European Union's statistics office Eurostat said.
Pushed by higher food and shelter costs, the consumer price index rose in March.
Country of origin labels are currently voluntary in the European Union and many of the bloc's governments want to keep it that way
While reverse flows would help cushion the effects of a Russian export cut during mild-demand summer months, analysts say they would not be sufficient in winter.
The tanker, Aegean Dignity, is due to take its load to Italy, the NOC quoted an oil official as saying in a statement on its website
TAP aims at enhancing the security of natural gas supply as well as diversification of gas supplies for the European markets.
Charlie Shrem, 24, was arrested in January and stepped down as vice president of the Bitcoin Foundation, a well-known trade group, soon after.
The religious endowments minister has ordered mosques not to run air conditioners before May 15 and after that date to use air conditioning only during prayer time
Most foreign workers in the construction and oil industries come from India, Bangladesh and Pakistan, while many domestic workers are from Indonesia and the Philippines
Lukoil has been decreasing its stake in Caspian Investment Resources Ltd, to share the costs at the projects, which require extensive financing.
Israel, which occupied the West Bank in a 1967 war, controls the airwaves of the territory, and Palestinian firms' lack of 3G is a constraint on its technology sector while Israel's soars
The hryvnia has lost about 38 percent of its value against the dollar since the beginning of the year due to the conflict with Russia.
The Austrian justice ministry said "numerous" persons were being investigated over money-laundering and other crimes, including former Prime Minister Mykola Azarov and his son Oleksii.
Ali Majedi, Iran's deputy oil minister for international affairs and trade, said Moscow and Tehran would struggle to agree such a deal.