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Petrobras oil output in Brazil falls 2.3pc in February RIO DE JANEIRO: Brazilian state-controlled oil company Petrobras said domestic production fell to 1.92 million barrels a day equivalent in February, down 2.3 percent from January's average rate.The company said in a statement released late on Thursday that the main cause of the drop was planned maintenance work on its P-33, P-37, P-53 and P-54 platforms in the Campos basin.The fall in output was partially offset by the coming on stream of three new platforms in the Santos basin, it said.Brazilian oil and gas production has suffered in recent months due to declining output from mature fields and the shutting of ageing oil platforms for maintenance.Petrobras, the country's largest producer, has wrestled for years with falling output as the quality of its ageing fields declines. The company has begun to bring massive new subsalt fields on stream, however, which are expected to begin reversing the decline from 2014. ...

PKN proposes first dividend in five years WARSAW: Poland's top refiner PKN Orlen proposed a dividend payout, of 1.5 zlotys ($0.46) per share, the first time it would hand back cash to shareholders in five years. The dividend equals just over 30 percent of the refiner's 2012 profit. The state-controlled firm earlier said it could pay a dividend of up to 2 zlotys. "If the shareholder meeting approves, it will be our first dividend payout since 2008," PKN chief executive Jacek Krawiec ...

Pegasus Airlines aims for mid April IPO ANKARA: Turkish low-cost carrier Pegasus Airlines aims to launch an initial public offering of around a third of the company in mid-April with most of the shares to be allocated to foreign investors, sources close to the deal told Reuters. The Istanbul-based airline had said last week the offering, managed by Barclays and Is Yatirim, would help fund expansion, increasing its capital to 102 million lira ($57 million) from 75 million. The sources said 65-80 ...

Japan crude imports from Iran fall 32.3pc in February y/y TOKYO: Japan's crude oil imports from Iran in February fell 32.3 percent from a year earlier to 953,848 kilolitres (214,268 barrels per day), the Ministry of Economy, Trade and Industry (METI) data showed on Friday, as the world's third-biggest oil consumer seeks a waiver from US sanctions.Japan's Ministry of Finance recently issued customs-cleared imports data from Iran, but the oil industry considers METI data as a benchmark because it tracks the actual import status of ...

Oil prices edge higher LONDON: Oil prices rose slightly on Thursday but analysts said the eurozone's economic woes would continue to cast a shadow over the market.New York's main contract, light sweet crude for delivery in May gained 16 cents to $96.74 a barrel.Brent North Sea crude for May advanced 11 cents to $109.80 a barrel.Analysts said lingering economic problems in the eurozone continued to stoke investor concerns, with parties in Italy unable to form a government and Cyprus ...

Vietnam raises fuel prices by up to 6.2pc: ministry HANOI: Fuel distributors in Vietnam have raised the retail petrol price by 6.2 percent to 24,580 dong ($1.18) per litre, the first price change so far this year, the Finance Ministry said on Thursday.The diesel price was raised by 1.7 percent to 21,912 dong per litre while that of kerosene was increased by 2.2 percent to 22,080 dong a litre, the ministry said in a statement. Copyright Reuters, 2013

US cash crude differentials strengthen as arb widens NEW YORK: Most US cash crude differentials strengthened on Wednesday as the transatlantic spread between Brent and US oil futures prices widened, with Brent's premium to its US counterpart up more than 90 cents during the session.Brent's premium to US crude rose to $13.11 a barrel based on May contract settlements, widening the spread after it ended at $13.02 on Tuesday and after reaching $13.94 during Wednesday's session. The premium fell during Tuesday's session as ...


Index Closing Chg%
Arrow DJIA 16,979.13 0.35
Arrow Nasdaq 4,526.48 0.02
Arrow S&P 1,986.51 0.25
Arrow FTSE 6,755.48 0.35
Arrow DAX 9,314.57 0.21
Arrow CAC-40 4,240.79 0.32
Arrow Nikkei 15,454.45 0.03
Arrow H.Seng 25,159.76 0.15
Arrow Sensex 26,314.29 0.40

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln