#AceWorldNews – VENEZUELA – Nov.29 – Venezuela’s President Nicolas Maduro has said that he and other officials should have their salaries reduced in response to lower oil prices, Reuters reported.
“This is a test for me,” Maduro said in a TV speech, adding that Venezuela would carry on lobbying the oil price target of $100.
The South American country gets 96 percent of its export revenues from oil, the price of which fell to $70 a barrel on Friday.
#AceNewsServices – MOSCOW – Nov.26 – Moscow News reports that Russia “has signed a contract” to deliver the S-400 surface-to-air missile systems to China, Vedomosti daily reported on Wednesday, citing its sources.
(Interfax-AVN) -The first-ever contract for exports of the S-400 Triumf air defense missile system has been signed.
“A contract between Rosoboronexport and the Chinese Defence Ministry was signed at the beginning of this fall for the delivery of at least six battalions of S-400 air defence missile systems worth of more than $3 billion,” Vedomosti reported on Wednesday.
Negotiations on the delivery of S-400 systems to China had been in progress for several years and the Russian Defence Ministry said in 2011 that exports might begin no earlier than 2016 because the Russian Armed Forces would have to be provided for first, the newspaper said.
The contract between Russia’s Rosoboronexport and China’s Defence Ministry on the delivery of at least six divisions of the S-400 systems for more than $3 billion was concluded at the beginning of autumn, according to the sources.
Russia’s defence concern Almaz-Antey has not commented on the report.
The talks between the two states on the issue have been continuing for several years.
#AceWorldNews says Fugitive owners of Bangladesh fire-disaster factory turn themselves in
Two fugitive owners of a Bangladesh garment factory turned themselves in to face homicide charges for the deaths of 112 workers in the country’s worst factory fire, Reuters reports.
The owners of Tazreen Fashions, Delwar Hossain and his wife Mahmuda Akter, were locked up after being refused bail.
They were among six fugitives wanted in connection with the November 2012 fire, which happened just outside of the capital, Dhaka.
So far, 13 people have been charged in connection with the fire, a rarity in a country where garment industry owners often go unpunished for factory accidents in the $22 billion export industry.
#AceNewsServices says WASHINGTON — Iran’s nuclear deal with the West could allow more Iranian oil on the world market in the coming months, but it remains to be seen whether sanctions will be lifted enough to allow the pariah nation to return to its former position as an energy power.
The deal lasts for six months, during which time the two sides will seek a permanent settlement. The consequences for global energy will be huge if the negotiations eventually lead to an end of international sanctions, including the European Union’s ban on purchases of Iranian oil.
“If Iran really gets back to producing its oil and expanding capacity, the potential is almost as big as the shale gas revolution in the United States,” said Phil Flynn, senior energy analyst for the Price Futures Group.
Iran holds the world’s fourth-largest proven oil reserves and second-largest natural gas reserves, according to the International Energy Agency. Iranian oil exports have plummeted by 60 percent in the past two years as a result of the international sanctions. The sanctions have crippled Iran’s economy, which relies on crude oil sales for 80 percent of its export earnings.
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