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Destin Pipeline says BP evacuates some staff from Gulf of Mexico NEW YORK: Destin Pipeline Co LLC on Wednesday said pipelines in the central and eastern Gulf of Mexico operated by BP Plc were in phase 2 of their severe weather contingency plan, with all nonessential personnel to be evacuated ahead of a possible storm nearing its offshore operations.Destin said in a website posting it would continue to accept gas flows on its system and the Okeanos pipeline system as long as weather conditions permitted and would continue to monitor the severity of any potential storm.The 225-mile Destin gas pipeline system is majority-owned by BP's Amoco Destin Pipeline Co, with Enbridge Inc's Enbridge Offshore owning a 33 percent stake.Copyright Reuters, 2013

Libya hopes to return to normal oil output rapidly: minister LONDON: Libya, where oil production has been choked off due to strikes, hopes to quickly resume its normal output of 1.6 million barrels per day, its oil minister said on Wednesday."We managed to reach agreement with most people, just a few people are still making problems for us," Libyan Oil Minister Abdelbari al-Aroussi said Wednesday in London,Libyan output plummeted to below 150,000 barrels per day at one point as strikes over alleged corruption shut production ...

Oil prices steady before US data LONDON: Oil prices steadied on Wednesday as traders awaited US energy stockpiles data whose release is planned to go ahead despite the government shutdown.New York's main contract, West Texas Intermediate for delivery in November, fell 17 cents to $101.87 a barrel.Brent North Sea crude for November edged up two cents to stand at $107.96 in London midday deals."The main focus will be on the weekly oil fundamentals report from the Department of Energy with expectations ...

Russia oil output matches post-Soviet record high in Sept MOSCOW: Russia's oil production, the world's largest, edged up to 10.53 million barrels per day (bpd) in September, from 10.52 million bpd in August to match a post-Soviet record high, Energy Ministry data showed on Wednesday.In tonnes, Russia's crude production was 43.08 million last month.Natural gas production jumped by 15 percent to 1.77 billion cubic metres a day in September.Copyright Reuters, 2013

Brent drops further below $108 on worries US shutdown will dent demand SINGAPORE: Brent crude extended losses below $108 on Wednesday on concerns the US government shutdown would reduce demand for commodities, while expectations that US oil inventories rose last week also put pressure on prices.Wrangling in the United States between President Barack Obama and congressional Republicans has forced the first government shutdown in 17 years. The shutdown has left hundreds of thousands of federal employees on unpaid leave and is expected to crimp demand in the ...

Oil prices extend falls amid US shutdown NEW YORK CITY: Oil prices retreated again on Tuesday after the partial US government shutdown raised doubts about the strength of US energy demand.US benchmark West Texas Intermediate for November delivery fell 29 cents to $102.04 on the New York Mercantile Exchange. WTI earlier in the session traded as low as $101.06 a barrel.European benchmark Brent crude for delivery in November gave up 43 cents to $107.94 a barrel.Tuesday's decline followed a similar retreat Monday ...

European refiners face new wave of closures LONDON: Europe faces a new wave of refinery closures due to rising competitiveness of US plants which can run on cheap gas and a continued fall in European demand, the heads of major trading houses said on Tuesday.Torbjorn Tornqvist, chief executive of traders Gunvor said overcapacity in Europe and increasing flows from the United States would further pressure an already vulnerable industry."Last year you saw a wave of closures. Gasoline demand has lost more than ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln