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Saudi Arabia's government won't reduce spending even if crude oil prices fall below what it had budgeted for in 2009.

ONGC has struck oil in nomination Block-IG in the Krishna Godvari Basin offshore India.

21 companies have each paid $2 million to formally participate in the tender for four heavy oil blocks in the Orinoco basin. Venezuela will offer an additional three oilfields as part of the tender to accomodate high demand for these areas.

The Spanish Prime Minister has excluded a government intervention against a possible deal turning the Russian oil giant Lukoil into the biggest shareholder of Spain's top oil company Repsol.

Ukraine will study the possibility of exploring and developing all Black Sea gas resources under the direction of a single company, Prime Minister Yulia Tymoshenko said on Tuesday.

President Hugo Chavez said he is proposing that OPEC countries consider setting a price range for oil of $80 to $100 a barrel to stabilize the global market.

Brown Shoe Co.’s profit dropped 62 percent in the third quarter due to a rapid decline in consumer spending, forcing the company to slow its store expansion plans and postpone its new $568 million headquarters development in Clayton. (BWS)

The U.S. Department of Agriculture will provide a year’s worth of funding for a program at N.C. A&T University designed to improve the income and efficiency of small farmers in the state.

The Greater Atlanta McDonald's Operators Association will give away one small coffee to customers between 5 a.m. and 8 a.m. at all participating stores in Metro Atlanta.

Calspan Corp. has signed a $4.6 million contract to build two full-scale crash-test facilities in India.