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Norway's oil investments seen falling further next year OSLO: Norway's oil and gas investments, a cornerstone of the country's economy, are set to fall more than previously predicted next year, due to a sharp decline in exploration spending, data from Statistics Norway (SSB) showed on TuesdayOil and gas firms have slashed spending repeatedly in their struggle to cope with the 60 percent drop in oil prices since June last year.The fresh oil survey was broadly in line with the central bank's forecast and would have a limited impact on its rate decision at a December 17 meeting, economists said."We will probably slightly cut our forecast but it's not enough to trigger a rate cut in December," Danske Bank Chief Economist Frank Jullum said.Economists at SEB and DNB maintained their expectations for a rate cut at the December meeting, while Nordea and Handelsbanken predicted the central bank's key policy rate would remain unchanged at the current record low of ...

China's teapot oil refineries set to export fuel for the first time BEIJING: Beijing will allow independent refineries to export refined fuel next year for the first time, sources said, freeing up 20 percent of China's refining capacity for sales abroad as the government aims to cut a local glut and boost investment.The move will allow independent refineries, also known as "teapots" such as Dongying Yatong Petrochemical and Panjin Beifang Asphalt Fuel, to enter the lucrative international market for the first time, raising concerns about a fresh ...

Oil rises on Middle East tensions, weaker US dollar LONDON: Oil prices rose on Tuesday as tensions in the Middle East escalated following the downing of a Russian-made fighter jet near the Syrian-Turkish border and a weaker U.S. dollar provided incentive for investors to buy more oil.Brent futures for January were up 44 cents to $45.27 a barrel at 1055 GMT, a 1 percent rise on Monday's close. West Texas Intermediate (WTI) crude was up 33 cents at $42.08."News of a military jet crashing ...

Oil prices up in Asia ahead of OPEC meeting, US report SINGAPORE: Oil prices climbed in Asia Tuesday ahead of a key meeting of the OPEC oil cartel and a report on US commercial crude inventories to gauge demand in the world's biggest oil consuming nation.Analysts said the impact of comments by the Saudi Arabian oil minister that his country was prepared to work with other oil producers to stabilise prices was muted because there was no firm signal to slash production to ease the glut ...

Nigeria's January crude oil exports to reach three-month high LONDON: Total exports of Nigerian crude oil are expected to rise by nearly 10 percent to a three-month high in January, according to initial loading programmes.Nigeria's export plan for January includes a total of at least 61.8 million barrels of oil, or 1.99 million barrels per day (bpd), the highest since October this year.Loading information for at least two programmes was still pending, meaning the total could rise further, but the programme was already five ...

Big funds in rare bearish turn on gasoline, record diesel shorts NEW YORK: Big funds have turned bearish on US gasoline prices for only the third time in at least a decade, and expanded short diesel positions to a record high, on bets that a yearlong crude glut may spill into fuel markets. Managed money gasoline positions on the New York Mercantile Exchange turned net short last week for the third time since the Commodity Futures Trading Commission began collecting the data in 2006, according to ...

Russia's Gazprom Neft says expects 2016 investments flat, at 380bn roubles MOSCOW: Gazprom Neft, the oil arm of Russia's top natural gas producer Gazprom, expects 2016 investments unchanged, at around 380 billion roubles ($5.8 billion), the company Chief Financial Officer Alexei Yankevich said during a conference call. He also said that the company projects its financing using average oil price of $45 per dollar for next three years. Copyright Reuters, 2015


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln