Home The BuzzMorning briefing: 18 Oct 2012

Morning briefing: 18 Oct 2012

by Executive Staff

Economics Kuwait Oil Company set fire to an oil well in the north of the OPEC member state on Wednesday to get rid of gas leaking from the site, state news agency KUNA said. The state-owned company said levels of the hydrogen sulphide gas from a well at the Rawdatain oil field close to the Iraqi border were "far below danger levels", KUNA said in an SMS alert. The company said earlier on Wednesday that there had been an oil and gas leak at the well during drilling operations and that no one had been injured. More from Arabian Business   Brent futures held above $113 on Thursday, buoyed by hopes for steady growth in demand after China, the world's second-biggest oil consumer, posted growth that met expectations, and simmering tension in the Middle East provided additional support. China's economy expanded 7.4 percent in the quarter to September from a

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