Saudis wield windfall to cut reliance on imports
Saudi Arabia, benefiting from oil at 55 dollar per barrel, keeps most windfall for debt reduction and infrastructure. Officials emphasize cautious spending, boosting vocational training and education while expanding foreign currency reserves as the kingdom aims to employ more Saudis and curb reliance on foreign workers.
MENTIONED IN THIS ARTICLE
Middle East
Saudi Arabia
United States
Aidarous Nasr
Yemen
Crown Prince
Abdullah
Brad Bourland
Saudi American Bank
Bourland
Saleh al-Amr
Organization For Technical Education and Vocational Training
Jeddah
House panel seeks UN oil-for-food records
The Energy and Commerce Committee demands full UN records on bribes and kickbacks tied to the oil-for-food program. Rep. Joe Barton cites CIA inspector Duelfer findings that Saddam Hussein exploited the scheme for illicit gains, noting the 60 billion program ran from 1996 until its suspension after the 2003 invasion.
MENTIONED IN THIS ARTICLE
U.N
Washington
Saddam Hussein
Iraq
House Energy and Commerce Committee
United Nations
Central Intelligence Agency
Charles Duelfer
Sad
Dam
Duelfer
Saddam
Natural gas rises as oil falters in futures market
On the NYMEX, November natural gas up 9.7 cents to 6.806, December at 8.065, January 8.575. November light crude dips 1.26 to 53.67. gold falls 2.50 to 417.60 as traders cite tepid buying and fund profit taking amid high oil. Commodities analyst Tim Evans notes limited gold demand despite weaker dollar and oil price strength.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
New York Mercantile Exchange
Nymex
Tim Evans
Pegasus Econometrics
Star Gas warns of bankruptcy
Star Gas Partners LP shares collapsed 80 percent after the distributor of heating oil and propane said it cannot pass on higher oil costs to customers. Stamford based Star Gas faces liquidity strain in Petro unit and may seek interim financing or file for bankruptcy if lenders do not provide support. Petro's 2004 fiscal income is expected to be far below the prior year's $9.26 million.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/ AP
Star Gas Partners LP
New York Stock Exchange
Stamford
Star Gas
Petro
Also Mentioned on This Page
Riyadh
Persian Gulf
Suhaib al-Hussaini
Andrews Hwy
Pdecal
Decal.us
Decalmart.com
Odessa
Oilfield Mud & Chemical Services
Foamers Production & Drilling
S. Market Street
Texas
Upward
Second Baptist Church
17Th St
Natcogroup
Rental Tools, Inc
Odessa - Midland
W. Hwy
Monahans
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