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Shell commited to Russia expansion despite sanctions NOVO-OGARYOVO: Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region. Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence. "We, of course, will pledge all the necessary administrative guidance and support," Putin said in response in a meeting that was later broadcast on national television. The United States and European Union have imposed targeted sanctions against a list of Russian and Ukrainian individuals and firms in retaliation for Moscow's annexation of Crimea last month. EU and US diplomats have indicated that they may consider wider sanctions against whole sectors of the Russian economy if Russian forces were to enter Ukraine. "We are very keen to grow our position ...


Rosneft says completes Saratov oil plant maintenance after fire MOSCOW: Russia's top oil producer Rosneft on Friday said it had completed maintenance at the pumping station of its 120,000 barrels-per-day Saratov refinery after a fire. The fire broke out at the plant in Russia's Volga river region on Monday. "Maintenance and recovery work has been completed at the pumping station, where a fire broke out on March 14, the equipment was put back to work," the company said. It said that the plant has ...

Iran oil exports rise to 1.2mn barrels per day TEHRAN: Iran's crude oil exports have hit 1.2 million barrels per day, almost doubling from eight months ago when the country elected a new president, a top government official said Friday.Mansour Moazami, who holds the planning brief among the Islamic republic's five deputy oil ministers, said the numbers were 20 percent above forecasts and they would rise further."When the government took office, exports were around 700,000 barrels per day," Moazimi was cited as saying by ...

Total discovers oil in deep offshore Ivory Coast PARIS: French oil major Total said on Thursday it discovered oil in a deep offshore area west of Ivory Coast. "This well is the first discovery in the San Pedro Basin, a frontier exploration area in Ivory Coast," Total senior vice president for exploration Marc Blaizot said in a statement. "Having confirmed the presence of a petroleum system containing light oil, we will next evaluate this very. Copyright Reuters, 2014

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asian trade Thursday as dealers weighed lingering concerns over the Ukraine crisis with a weaker-than-expected US stockpiles report, analysts said. New York's main contract, West Texas Intermediate for May delivery, was up 23 cents at $103.99 in mid-morning trade and Brent North Sea crude for June eased seven cents to $109.53.Singapore-based Phillip Futures said events in Eastern Europe continued "to peg crude prices at elevated levels" ahead of Geneva ...

India cuts Iran oil imports nearly a fifth in 2013/14 NEW DELHI: India's imports of Iranian crude tumbled about a fifth in the fiscal year ended in March, despite a surge of shipments in recent months that came after a deal easing sanctions on Tehran. The Geneva agreement struck between Iran and six world powers in November and implemented for six months from Jan. 20 eased some restriction on Tehran's oil trade in exchange for curbs to its nuclear programme.India, the world's fourth-biggest oil consumer ...

Brent holds near $110 on Ukraine crisis SINGAPORE: Brent oil steadied above $109 a barrel on Thursday, trading not far from a six-week high, as rising tensions in Ukraine kept the geopolitical risk premium on crude prices intact, while an upbeat view on US and Chinese demand was also supportive.With Russian troops massed on the border with Ukraine, prospects of defusing the crisis at talks in Geneva later in the day among foreign ministers from Russia, Ukraine and the United States together ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln