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Petrobras Of Brazil To Reduce By 12,000 Jobs

Brazil’s state-run oil producer, Petrobras, has said it will cut 12,000 jobs by 2020.

The voluntary layoff programme will help save $9bn at the company, which has struggled with losses following a price-fixing and bribery scandal. 70 more words

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Congo orders mining and oil taxes in US dollars

Mining and oil firms in Democratic Republic of Congo must pay taxes and import duties in U.S. dollars from Saturday rather than in the national currency, the Central Bank of the Congo said. 79 more words

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Saudi Arabia banks pointing to more bad news

Saudi Arabia, whose economy has taken a beating in recent months thanks to the crash in oil prices, just got some more bad news, and this time its related to the country’s banking sector. 68 more words

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latest news on oil

Three developments in the last week or so:

Saudi Arabia has clarified for reporters the significance of its recent agreement with Russia, Venezuela and Qatar to refrain from increasing oil production.   503 more words

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