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Eni to sell 1.4mn tonnes/year of LNG to Indonesia's Pertamina MILAN: Italian oil firm Eni on Tuesday signed agreements to sell 1.4 million tonnes per annum (mtpa) of liquefied natural gas from an Indonesian deepwater project to state-run company Pertamina. Production will start in 2017 and come from the Jangkrik Field Development Project offshore Indonesia, a block in which Eni holds a 55 percent operating stake. Gas from the project will be piped to the country's Bontang LNG plant, where it will be liquefied. "It is one of the first deepwater gas projects in Indonesia being developed under a fast-track scheme, and confirms Eni's commitment in supplying gas for the development of the Indonesian domestic market," Eni Chief Executive Claudio Descalzi said in a statement. The other joint-venture partners are GDF Suez Exploration Indonesia, a unit of Engie, with 33.334 percent and Saka Energi Muara Bakau with 11.666 percent. Indonesia was once self-sufficient in oil and gas but has struggled ...

Oil prices down as Greece default looms SINGAPORE: Oil prices extended losses in Asia Tuesday on expectations Greece will miss a key debt repayment later in the day and edge closer to a eurozone exit, analysts said. US benchmark West Texas Intermediate (WTI) for August delivery fell 23 cents to $58.10 while Brent crude for August eased 15 cents to $61.86 in late-morning trade.WTI sank $1.30 and Brent lost down $1.25 Monday. Crude tracked losses in global equity markets Monday after Greek ...

Oil prices retreat on Greece LONDON: Oil prices dropped on Monday, tracking a sell-off in global equity markets and the euro caused by fears of a Greek debt default, analysts said.US benchmark West Texas Intermediate for August delivery slid $1.40 to $58.23 compared with Friday's close.Brent North Sea crude for August lost $1.71 to stand at $61.55 a barrel in London midday trade.Daniel Ang, investment analyst at Phillip Futures, said the weakening euro "could see crude prices continue to drop, ...

Oil slides on Greek default fears SINGAPORE: Oil prices fell in Asia Monday tracking the sell-off in global equity markets on fears of a Greek debt default, analysts said.US benchmark West Texas Intermediate for August delivery fell 82 cents to $58.81 while Brent crude for August eased 70 cents to $62.56 in late-morning trade.Asian equity markets and the euro were facing sell-offs at the start of the week after cash-strapped Greece broke off deadlocked talks with creditors over the weekend, despite ...

Russia's Rosneft reports first quarter profit rise of 30pc MOSCOW: Russia's oil giant Rosneft said Friday its net profit rose by 30.2 percent in the first quarter from the same period last year to 56 billion rubles ($1 billion).The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles to exclude the exceptional profit from its sale of a stake in Yugragazpererabotka, a gas processing joint venture with Sibur.Sales were down 6.3 percent to 1,288 ...

Oil prices mixed with focus on Greece SINGAPORE: Oil prices were mixed in Asia Friday as dealers eyed the deadlocked Greek debt talks expected to come to a head over the weekend, analysts said. US benchmark West Texas Intermediate for August delivery fell eight cents to $59.62 while Brent crude for August gained 20 cents to $63.40 in mid-morning trade. "The focus for Friday and into the weekend will be on Greece," said Singapore's United Overseas Bank. Crude investors were weighing the ...

Oil prices fall as Greece debt crisis talks drag on NEW YORK: Oil prices fell Thursday as traders kept an eye on Greece's prolonged negotiations with creditors to avoid a debt default and possible exit from the eurozone.US benchmark West Texas Intermediate for August delivery fell 57 cents to $59.70 a barrel.Brent North Sea crude for August, the global benchmark, closed at $63.49 a barrel in London, down 29 cents from Wednesday's settlement. "The Greece headlines continue to dominate the trade... and I think there ...


Index Closing Chg%
Arrow DJIA 17,598.20 0.52
Arrow Nasdaq 5,115.38 0.25
Arrow S&P 2,098.04 0.25
Arrow FTSE 6,688.62 0.11
Arrow DAX 11,443.72 1.19
Arrow CAC-40 5,120.52 0.75
Arrow Nikkei 20,548.11 0.11
Arrow H.Seng 24,411.42 0.91
Arrow Sensex 28,187.06 0.26

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln