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Iran to talk hold market share talks with Saudi at OPEC DUBAI: Iran's oil minister said on Thursday he will hold talks with top oil exporter Saudi Arabia about market share when OPEC members meet next week in Vienna as Tehran aims to boost its oil exports after the lifting of sanctions imposed over its nuclear programme."The countries in the south of the Persian Gulf are interested in keeping their market share and a decrease in market share will be difficult," Iran Oil Minister Bijan Zanganeh was cited as saying by the official news agency IRNA.He said that he would speak to Saudi Arabia about this topic next week in Vienna.OPEC meets on Nov. 27 to decide on its output policy amid calls from some members of the producing group to cut supplies to shore up oil prices that have fallen below $80 per barrel from $115 in June.Copyright Reuters, 2014


Ineos to invest $1bn in UK shale exploration LONDON: Refiner and petrochemical group Ineos will invest around $1 billion in shale gas exploration in the United Kingdom, it will announce on Thursday, according to the BBC.The BBC, without citing sources, said Ineos believes shale gas will transform the economics of its Grangemouth refinery and petrochemical plant in Scotland, which was at the centre of a bitter industrial dispute last year.Ineos declined to comment ahead of a press conference later in the day.In September, ...

Oil prices rise in Asian trade SINGAPORE: Oil prices edged higher in Asia Thursday but gains were capped as dealers expect Gulf members of the OPEC cartel to reject production cuts unless they are guaranteed market share, analysts said.US benchmark West Texas Intermediate for December rose 12 cents to $74.70 while Brent crude for January was up 17 cents at $78.27 in afternoon trade. "The market is keenly watching the outcome of the OPEC meeting next week," said Sanjeev Gupta, head ...

Gulf to reject OPEC cuts to guard oil market share KUWAIT CITY: Gulf oil producers led by Saudi Arabia will likely reject output cuts at an OPEC meeting next week unless they are guaranteed their market share in a highly competitive market, analysts say.The stance of Kuwait, Qatar, United Arab Emirates and Saudi Arabia is seen as crucial for a positive OPEC decision on reducing supplies to boost crude prices, which have shed a third of their value since June.The four pump a total 16.2 ...

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Thursday as dealers anticipated Gulf members of the OPEC cartel to reject production cuts unless they are guaranteed market share, analysts said.US benchmark West Texas Intermediate for December fell 12 cents to $74.46 while Brent crude for January was down four cents at $78.06 in mid-morning trade. "The market is keenly watching the outcome of the OPEC meeting next week," said Sanjeev Gupta, head of the Asia-Pacific oil and ...

Oil climbs above $79 on speculation OPEC may cut LONDON: Brent oil gained slightly, heading towards $78 a barrel on Wednesday on speculation OPEC may act to stabilise prices that have fallen by almost a third in five months when it meets next week.However gains were trimmed after weekly U.S. government data showed a rise in crude inventories there.Brent was up 27 cents at $78.74 a barrel at 1552 GMT, after settling 84 cents lower in the previous session.U.S. crude was up 1 cent ...

Oil rebounds before US energy report LONDON: Global oil prices rebounded slightly on Wednesday as traders awaited key US stockpiles data and eyed next week's crucial OPEC output meeting.Brent North Sea crude for delivery in January rose 56 cents to $79.03 a barrel nearing midday in London.US benchmark West Texas Intermediate for December added 24 cents to $74.85 per barrel. Later on Wednesday, all eyes will be on the weekly commercial crude stockpiles report from the US government's Department of Energy ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln