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Libya PM hopes oil ports will reopen on Sunday TRIPOLI: Prime Minister Ali Zeidan expects Libyan oil ports seized by a group demanding autonomy for the country's east would reopen on Sunday, state news agency Lana said on Saturday, although it was unclear if the government had concluded a deal with the group.Zeidan also promised that oil sales would be properly accounted for going forward, one of the demands of the group, which has seized three eastern ports that previously accounted for around 600,000 barrels a day in exports.On Tuesday, the autonomy group said it would end its hold on the ports on Sunday if Tripoli allowed it to take a share of oil sales and verify claims of oil sale corruption.Abd-Rabbo al-Barassi, prime minister of the group's self-declared government, said on Friday talks would be held with government officials on Saturday to see whether Tripoli would meet the demands. Otherwise it would sell crude on its own.The group ...


Oil prices mixed ahead of Libya's return to market NEW YORK: Oil prices traded mixed Friday as Libya was expected to begin exporting more crude into a market already flush with supply.On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery fell 90 cents to $96.60 a barrel.In London, Brent North Sea crude for January finished 16 cents higher at $108.83.Traders were waiting to see if a Libyan tribe leader's pledge to open up its crude terminals on December 15 would ...

Gasoline cracks slip with barge prices  LONDON: Gasoline refining margins in northwest Europe weakened on Friday along with barge prices. Workers at Total's five French refineries went on strike as a wage row with management intensified. Traders were not expecting the strike to have a severe impact on the market if it is swiftly resolved. However, if it is prolonged, European product prices could rise significantly due to lower availability. "It depends on the duration. The strike could hamper some exports ...

Canada looks to require emergency response plans for oil OTTAWA: Canada is looking at classifying crude oil as a higher-risk dangerous good requiring emergency response plans for shipping by rail following a train accident that leveled the heart of a Quebec town in July, a government official said on Friday. The federal government's transport department will draft proposed regulations in February to require emergency response assistance plans for the transportation of crude oil, said Jan O'Driscoll, a spokesman for Transport Minister Lisa Raitt. ...

North Sea Crude Forties rises slightly LONDON: North Sea Forties crude differentials rose on Friday supported by demand from Trafigura, which bought one cargo and continued to bid afterwards, traders said.Robust demand is countering higher production in January. Trafigura has bought five Forties cargoes in the window this week, say traders, and was last week linked to a VLCC shipping fixture to take Forties to South Korea in early January.Tanker fixtures and ship tracking gave more concrete signs of impending sailings ...

Petrobras damaged refinery to have capacity cut after repair RIO DE JANEIRO: Petrobras' damaged REPAR oil refinery will only be able to process two-thirds of its previous volume after repairs, a director at Brazil's oil regulator said, a situation likely to force the company into more money-losing fuel imports than expected. Output at the 190,000 to 200,000 barrel-per-day refinery near Curitiba, Brazil, will be limited by damage to the structure of its distillation unit and cooling equipment, Waldyr Martins Barroso, a director ...

Oil down in Asia on oversupply, Fed concerns SINGAPORE: Oil prices slipped in Asian trade Friday as dealers worried about a global oversupply in crude, while speculation the US Federal Reserve will soon scale back its stimulus programme also weighed. New York's main contract, West Texas Intermediate (WTI) for January delivery, was down nine cents at $97.41 in afternoon trade while Brent North Sea crude for January eased seven cents to $108.60."Investors are not only concerned about an oversupply in the US from ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln