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UK gas prices fall as North Sea supply returns, Langeled flows up LONDON: Natural gas prices in Britain fell on Monday morning as piped Norwegian supply helped offset the shutdown of Emden EMS and returning output after British North Sea maintenance eased supply concerns.Prices for within-day delivery were trading at 42.80 pence per therm at 0926 GMT, down 2.2 pence since their last settlement. Prices for delivery on Tuesday were down 0.7 pence at 43.25 pence.The market was broadly balanced with supply flows forecast at 149.4 million cubic metres (mcm) per day and demand seen at 148.5 mcm, National Grid data showed.Despite temperatures slipping below seasonal averages, demand remained well below norms of about 172 mcm, the data showed.Helping offset Saturday's shutdown for maintenance of the Emden Europipe metering station (EMS) were higher flows via the Langeled pipeline from Norway which rose to 27 mcm from 18 mcm on Friday.Analysts at Thomson Reuters Point Carbon noted this also helped alleviate tightness in ...


Oil below $103 on easing geopolitical risks, ample supply LONDON: Oil fell more than $1 a barrel to trade below $103 on Monday as investor concerns over conflict in Ukraine and Iraq eased, and as higher Libyan oil output added to already ample supplies.Crude jumped on Friday after the government in Kiev said its artillery had partially destroyed a Russian armoured column. While fighting between Ukrainian forces and pro-Moscow separatists continues, fears of a further escalation proved unfounded."It became apparent on Friday just how ...

Kuwait's KPC in oil deal to export 300,000 bpd to China KUWAIT: Kuwait has concluded a deal with a China's Sinopec trading arm to export 300,000 barrels per day (bpd) of crude oil over 10 years, the head of international marketing at state-owned Kuwait Petroleum Corporation (KPC) said on Monday.Nasser al-Mudaf told Reuters the exports, which will amount to 15 percent of Kuwait's oil export output, start from Monday and are estimated to be worth $120 billion.Mudaf said the contract replaces a previous one for between ...

Rosneft, Statoil start exploration for oil and gas in Norway MOSCOW: Russia's Rosneft and Norway's Statoil have embarked on joint exploration for oil and gas on the Norwegian continental shelf in the Barents Sea, Rosneft said on Monday.The companies expect to analyse the drilling results up until the end of this year.A subsidiary of sanctions-hit Rosneft was granted the award of a 20 percent participating interest in the four fields within the Norwegian continental shelf in the Barents Sea during a licensing round last year.Copyright ...

Apache announces Australian oil discovery SYDNEY: US energy firm Apache on Monday announced an oil discovery off northwestern Australia which it said could potentially represent a new oil province for the country.The find at the Phoenix South-1 well is the first for Apache Energy in the Canning Basin, some 180 kilometres (112 miles) north of the Western Australian town of Port Hedland."Although evaluation is at an early stage, Phoenix South-1 is an exciting result," said Apache's executive vice-president and chief ...

Turkish energy minister says Iraqi Kurdistan oil exports continue ANKARA: Turkish Energy Minister Taner Yildiz said on Monday 6.5 million barrels of Iraqi Kurdish crude oil had been shipped to world markets via Turkey's Ceyhan port since exports began and that a seventh tanker was being loaded at the terminal.Yildiz said crude flow on the Kirkuk-Ceyhan pipeline had been halted as of Monday due to maintenance work. Flows through the 120,000 barrel-per-day (bpd) pipeline began at the end of 2013 but the first cargo ...

South Korea running out of spent nuclear fuel storage space SEOUL: South Korea needs to quickly find additional space where it can store its spent nuclear fuel because some of its temporary storage capacity will be full by 2016, an independent body that advises the government on nuclear issues said on Monday. The country has 23 nuclear reactors supplying about a third of its power. Seoul has been under pressure to cut its reliance on nuclear power since late 2012 when safety scandals led to ...


 



 
Index Closing Chg%
Arrow DJIA 17,001.22 0.22
Arrow Nasdaq 4,538.55 0.14
Arrow S&P 1,988.40 0.20
Arrow FTSE 6,775.25 0.04
Arrow DAX 9,339.17 0.66
Arrow CAC-40 4,252.80 0.93
Arrow Nikkei 15,539.19 0.30
Arrow H.Seng 25,112.23 0.47
Arrow Sensex 26,419.55 0.23





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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 15, 2014
Reserves $14.264 bln