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Oil prices drop amid high US output LONDON: Oil prices fell on Friday with the focus on high US output as traders looked ahead to Greece's weekend referendum that could determine whether it remains in the eurozone.West Texas Intermediate for August delivery fell 35 cents to $56.58 a barrel compared with Thursday's close.Brent North Sea crude for August dropped 44 cents to stand at $61.63 a barrel in London afternoon deals.Traders are worried about a global supply glut and the first rise in the US oil-rig count this year.Oil prices had meanwhile slumped midweek as the US government revealed a surprise weekly build of 2.4 million barrels for the country's commercial crude inventories. "This was the first build in stockpiles since the end of April, ending a run of eight weekly declines," said Fawad Razaqzada, technical analyst at Forex.com.Saxo Bank analyst Ole Hansen added Friday that the US situation combined with "OPEC producing the most since 2012... ...


Oil prices ease ahead of Greece vote SINGAPORE: Oil prices eased in Asia Friday ahead of a weekend bailout reform referendum in Greece that could determine its future in the eurozone.West Texas Intermediate for August delivery was down 24 cents at $56.69 while Brent North Sea crude was 15 cents lower at $61.92.Greek voters will be asked to vote either "yes" to a bailout package offered by creditors in exchange for tougher austerity measures, or "no" in support of the leftist government's ...

Oil prices recover as Iran talks, Greek crisis drag on LONDON: Oil prices recovered Thursday as markets tracked the latest diplomacy surrounding Iran and Greece, awaiting more key US data.US benchmark West Texas Intermediate (WTI) for August delivery climbed 21 cents to $57.17 a barrel compared with Wednesday's close, ahead of jobs data due Thursday in main crude consumer the United States.Brent North Sea crude for August gained 57 cents to stand at $62.58 a barrel in London afternoon deals.World powers negotiating a deal with ...

Oil prices recover as Iran talks, Greek crisis drag on SINGAPORE: Oil prices recovered Thursday after the Iran nuclear talks were extended until July 7, giving oversupplied markets a breather despite uncertainty over the Greek financial crisis, analysts said. US benchmark West Texas Intermediate (WTI) for August delivery was up 10 cents at $57.06 in late morning Asian trade while Brent was 23 cents higher at $62.24."With the deadline now extended into next week on finding a comprehensive agreement on Tehran's nuclear programme, the markets ...

Shell gives green light to develop giant Gulf of Mexico field LONDON: Royal Dutch Shell has given the green light for the development of the Appomattox deepwater oil and gas field in the Gulf of Mexico, set to be the energy giant's largest floating platform in the region.The Appomattox project, some 80 miles (130 km) off the coast of Louisiana, is expected to reach peak production of around 175,000 barrels of oil equivalent (boe) per day, Shell said in a statement on Wednesday. Shell holds a ...

Eni to sell 1.4mn tonnes/year of LNG to Indonesia's Pertamina MILAN: Italian oil firm Eni on Tuesday signed agreements to sell 1.4 million tonnes per annum (mtpa) of liquefied natural gas from an Indonesian deepwater project to state-run company Pertamina. Production will start in 2017 and come from the Jangkrik Field Development Project offshore Indonesia, a block in which Eni holds a 55 percent operating stake. Gas from the project will be piped to the country's Bontang LNG plant, where it will be liquefied. "It ...

Oil prices down as Greece default looms SINGAPORE: Oil prices extended losses in Asia Tuesday on expectations Greece will miss a key debt repayment later in the day and edge closer to a eurozone exit, analysts said. US benchmark West Texas Intermediate (WTI) for August delivery fell 23 cents to $58.10 while Brent crude for August eased 15 cents to $61.86 in late-morning trade.WTI sank $1.30 and Brent lost down $1.25 Monday. Crude tracked losses in global equity markets Monday after Greek ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln