The major part of oil shipments by international producers is denominated in Brent crude, so talk of a commodity supercycle lacks credibility.

FORBES: Apple And Google Much Better Bets Than Black Or Yellow Gold

The 2012 data show that slowing exports to G3 economies were offset in part by strong shipments to major emerging markets and commodity exporters.

FORBES: Barclays Urges Caution On China

And Egypt for its part has refused to agree to take any concerted action to prevent the weapons shipments from docking in its ports and transiting its territory en route to Gaza.

CENTERFORSECURITYPOLICY: Pictures of Victory

Many of the investments and projects are part of the oil-for-loan programme, in which loans are paid for with oil shipments.

BBC: Global perceptions of Hugo Chavez