Oil prices fall 2.5 percent on strong dollar, weak China data:
"Turkey's Unit International has signed a $7 billion agreement with Russia's state-owned Zarubezhneft and Iran's Ghadir Investment Holding to drill for oil and natural gas in Iran, the company said on Tuesday. In a statement, Unit said the three companies had invested a total of $7 billion for the drilling, which would take place at three oil fields and one large natural gas field in Iran. The total reserves at the three oil fields stand at 10 billion barrels, and the fields will produce 100,000 barrels per day, Unit said. It said the natural gas field had a production capacity of 75 billion cubic metres per year."
'via Blog this'
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