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BASF and Russia's LetterOne merge oil and gas activities

BASF will take over the majority of the new joint venture when the German chemical group merges its oil and gas activities with Russian-owned Letter One, which owns DEA and has sizeable assets on the Norwegian shelf.

Photo: Wintershall

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IMF warns of trade war and expensive financial markets

Although risks are emerging due to a trade war, political unrest in the EU and inflated financial markets, the global recovery has not yet lost its momentum, says the International Monetary Fund in an update to its April forecast.

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