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Lukoil-led consortium seals Iraq deal

A consortium led by Russian private oil company Lukoil is the latest in a line of energy giants sealing deals in Iraq, in a move set to develop one of the country’s largest oil fields.

BP CEO: Oil industry faces supply challenge

The oil industry will continue to face supply challenges in the long term, following China’s burgeoning demand for imports, said BP’s chief executive at the World Economic Forum in Davos, Switzerland.

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