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Oil prices rise in Asia on US stockpile data SINGAPORE: Oil prices rose in Asia Thursday, buoyed by a lower-than-expected gain in US crude stockpiles and hopes of an interest rate cut by the European Central Bank (ECB), analysts said. New York's main contract, light sweet crude for delivery in June added 40 cents to $91.83 a barrel and Brent North Sea crude for June delivery increased 32 cents to $102.05 in mid-morning trade."Prices are supported by data showing US inventory build-up was less than expected," Tetsu Emori, chief fund manager at Astmax Asset Management in Tokyo, told AFP. "This suggests that demand in the United States is recovering."The US government's Department of Energy announced Wednesday that oil stockpiles in the country increased by 900,000 barrels in the week ending April 19, fewer than forecasts for a gain of 1.2 million barrels. Changes in US inventory stocks are closely watched by dealers as they indicate levels of demand in ...


Mozambique gas discoveries to 80trn cubic feet: Eni MILAN: Italian oil and gas giant Eni said on Wednesday it had completed its appraisal of gas discoveries at its Mozambique fields, and that they contained a more-than-expected 80 trillion cubic feet."The well results have exceeded expectations and Eni has updated the estimate of the Mamba Complex and Coral discoveries to 80 trillion cubic feet (Tcf) of gas in place," Eni said in a statement. Eni said it is now finalising the development plans. Eni ...

Spot gains on lower wind, partly offset by imports OSLO: Nordic spot power prices gained slightly on lower wind power output but this was partly offset by imports of cheaper power from the continent, analysts at Point Carbon said on Wednesday. The Nordic average day-ahead power price for Thursday came out at 40.72 euros ($53.00) per megawatt-hour (MWh) on the Nordic power exchange versus 39.92 euros for Wednesday. The day-ahead contract in the financial market was last traded at 40.50 euros MWh. Spot prices ...

Vietnam Petrolimex seeks May cargo SINGAPORE: Vietnam's top oil importer Petrolimex is seeking 35,000 tonnes of gasoil for May, a tender document showed on Wednesday.The company is seeking a 500 ppm sulphur gasoil cargo for May 20 to 31 loading from either Singapore, Thailand, South Korea, South China or Taiwan, the document stated.The tender closes on April 25 and is valid until April 26 Petrolimex had stayed away from the spot market due to a weak domestic demand and high ...

Brent holds above $100, weak economic outlook caps gains SINGAPORE: Brent crude held above $100 a barrel on Wednesday, supported by fears that OPEC could cut oil supply if prices fall more, although data from major economies pointing to slower growth and fuel demand capped gains.Oil has propped above $100 this week after calls from OPEC oil hawks Venezuela and Iran for an emergency meeting ahead of one already scheduled on May 31. The Organization of the Petroleum Exporting Countries pumps more than a ...

Oil hovers above $100 as Chinese, German data disappoint NEW YORK: Brent crude oil edged lower on Tuesday in reaction to weak manufacturing data in China and Europe, but it closed above $100 a barrel for a second straight day as it drew some support from strong gains in US equity markets. The flash HSBC Purchasing Managers' Index fell to 50.5 in April from 51.6 a month earlier as new export orders shrank in China.The PMI's 50-point level divides growth from contraction from ...

Iraq oil exports up in March BAGHDAD: Iraq's overall oil exports, which account for the lion's share of government income, were up in March but average daily exports fell, oil ministry spokesman Assem Jihad said on Tuesday.Iraq exported 74.9 million barrels of oil in March, an average of about 2.4 million barrels per day, compared to 71 million barrels in February, or about 2.54 million bpd, Jihad said.Sales brought in $7.772 billion, up from $7.644 billion in February.Baghdad is almost entirely ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln