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CALGARY, ALBERTA (MARKET WIRE) TransAtlantic Petroleum Corp. (TSX: TNP) today reported the following (all results in U.S. dollars):

Reliant energy sold its northeastern retail electric business to Hess Corp., a move that will bring the company a step closer to a much-needed $650 million loan from Goldman Sachs.

Iran's OPEC governor, Mohammad Ali Khatibi, is calling on the oil cartel to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month.

Oil prices slumped Friday, despite signals from OPEC that it may cut production again, with the markets instead focused on recent reports showing cutbacks in spending and consumption.