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Oil prices steady after heavy falls LONDON: Oil prices steadied on Monday following last week's heavy losses.Brent North Sea crude for delivery in September dipped five cents to stand at $104.79 a barrel in London afternoon deals. US benchmark West Texas Intermediate for September gained 14 cents to $98.02 a barrel.New York prices had last week tumbled to their lowest level since early February, with the market awash with supplies, dealers said.The falls erased some of the gains built up in recent months amid concern over armed insurgencies in crude producers Iraq and Libya. Prices have also been supported by conflict in Ukraine, which is a key conduit for Russian energy exports to Europe. Prices steadied on Monday after Friday's jobs report from the US, the biggest consumer of crude oil in the world and so watched carefully by oil investors. The Commerce Department reported that the US economy generated 209,000 new jobs in July, while ...


Iraq oil exports reach 2.442mn bpd in July BAGHDAD: Iraq's oil exports increased in July to an average of 2.442 million barrels per day (bpd) from 2.423 in the previous month, the oil ministry said on Monday.Shipments from the northern oilfields of Kirkuk are still suspended, the statement said.The selling price for Iraq's crude is $102.8 per barrel and revenues of $7.8 billion have been generated in July.Iraq exports the bulk of its oil from its southern terminals.Copyright Reuters, 2014

UK gas prompt prices fall on increased supply outlook LONDON: Prompt prices for wholesale natural gas in Britain fell on Monday on prospects for increased supplies in the coming week after maintenance at a Norwegian gas field was completed earlier than planned.Gas prices for next-day delivery were trading at 37.20 pence per therm at 0855 GMT, down 0.65 pence from their last close, while prices for immediate delivery were down by 1.10 pence to 36.90 pence per therm.Last week, Gassco rescheduled maintenance at its ...

Asia-Pacific crude Brent/Dubai gap near 4-year low; Sokol weaker SINGAPORE: Brent's premium to Dubai crude fell to the lowest in nearly four years, while differentials for Sokol crude oil dropped amid overall weak demand from refiners, traders said on Monday.Brent-Dubai Exchange of Futures for Swaps (EFS) <DUB-EFS-1M>, or Brent's premium to Dubai swaps, narrowed 58 cents to $1.22 a barrel, the lowest in nearly four years.India's ONGC sold 700,000 barrels of light sweet Sokol crude loading over Oct. 2-5 to Glencore at less than ...

Middle East crude Dubai linked grades under pressure SINGAPORE: Dubai-linked crude grades, such as Russian Sokol, came under pressure in Asia on Monday after the spread between the Middle East marker to Brent hit the narrowest in close to four years.Brent-Dubai Exchange of Futures for Swaps (EFS) for September was valued at $1.22 a barrel, down 58 cents from Friday's close and the narrowest since September 2010.The spread traded as low as $1.20 after Monday's settlement, a trader said.A comparatively stronger Dubai versus ...

Oil steadies around $105 but surplus still weighs LONDON: Brent crude oil steadied around $105 a barrel on Monday as worries about global oversupply outweighed concerns over escalating violence in North Africa and the Middle East.A supply glut in West African and Atlantic markets dragged Brent down 3.3 percent last week, despite tensions in Iraq, Libya and Ukraine that could disrupt oil production in future.Brent crude was unchanged at $104.84 a barrel by 1028 GMT, after falling $1.18 on Friday to $104.84 a ...

British government to amend subsidy rules to exclude old coal plants LONDON: The British government will amend the rules of its proposed energy capacity market to exclude long-term subsidies for ageing coal plants, it said on Monday, relenting to pressure from environmental campaign groups."We will amend the capacity market rules to clarify without any doubt that only genuine new projects can access the 15-year maximum term. We will be consulting on this shortly," a spokeswoman for the Department of Energy and Climate Change (DECC) said.Britain is ...


 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln