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Algeria boosts oil output by 32,000 bpd with two new fields ALGIERS: OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministy official said on Sunday.Production increased on Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000 bpd from the Bir Msana field in Hassi Messaoud area, the official told Reuters.Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.Copyright Reuters, 2015


Russian oil production dips in July MOSCOW: Russian oil output fell to 10.65 million barrels per day (bpd) in July, down from 10.71 million bpd in June, falling from post-Soviet highs maintained since March, Energy Ministry data showed on Sunday.The fall was mostly due to lower condensate production at Gazprom, included in the oil figures, the data showed.In July, Gazprom stopped units at its Surgut Gas Condensate Stabilization Plant for maintenance, according to the Energy Ministry.Russian production remained above that of ...

Iran sees oil output up 1mn bpd after curbs end DUBAI: Iran expects to raise oil output by 500,000 barrels per day (bpd) as soon as sanctions are lifted and by a million bpd within months, Oil Minister Bijan Zanganeh said in remarks broadcast on Sunday."We are already doing marketing, and within a day after the lifting of sanctions we will raise (production) by 500,000 barrels per day," Zanganeh said.He said Iran's crude production had fallen about one million bpd from about four million bpd ...

Mexican crude oil output up slightly in June, exports down MEXICO CITY: Mexican crude oil output in June rose nearly 1 percent from the previous month, while June crude exports slid 6 percent, national oil company Pemex said on Friday.Crude production in June averaged 2.247 million barrels per day (bpd), while exports stood at 1.048 million bpd.Mexico is the world's 10th biggest crude producer, and the third largest supplier to the United States behind Canada and Saudi Arabia.Pemex has been battered by slumping output for ...

Iraq's southern oil exports hit record 3.064mn bpd in July BAGHDAD: Iraq's southern oil exports rose in July to a record average of 3.064 million barrels per day (bpd) from 3.02 million in June, officials from the state-run South Oil CO. said on Saturday.Shipments have jumped after Iraq's decision to split crude stream into two grades, Basra Heavy and Basra Light, to resolve quality issues.Some companies working in Iraqi oilfields increased production following the move.Copyright Reuters, 2015

Egypt expects to import 7.79mn tonnes of LNG this fiscal year CAIRO: Egypt expects to import 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said on Saturday.The government expects to buy 7.79 million tonnes of LNG for $3.55 billion and 6.37 million tonnes of crude oil for $3.51 billion, the ministry said in a handout given to journalists at a news conference on its economic development plan for ...

Oil falls after OPEC comments imply no supply cut LONDON: Oil prices fell on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. Benchmark North Sea Brent crude headed for its fifth consecutive weekly fall after comments on Thursday in Moscow by Abdullah al-Badri, secretary-general of the Organization of the Petroleum Exporting Countries. Badri said rising demand would prevent a further fall in oil prices ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln