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Norway gas flows fall on Oseberg, Heimdal outages OSLO: Norwegian gas output fell by 14.4 million cubic meters (mcm) on Tuesday due to separate outages at the Oseberg and Heimdal fields, gas system operator Gassco said in a market message.Output at Oseberg was down 8.2 mcm while output at Heimdal was down 6.2 mcm, Gassco said. Both outages are expected to last 4 to 12 hours, although the duration was uncertain, Gassco said.The outages come on top of a 4.5 mcm/day outage at Sleipner.Copyright Reuters, 2015

Libya's Sarir, Messla oilfields stop work after power cut BENGHAZI: The Sarir and Messla oilfields feeding Libya's port of Hariga have stopped working due to a power outage which operator AGOCO aims to repair on Tuesday, it said."The results of a pump test from Sarir were good but there were unexpected heavy rains in the Sarir area that led to power cuts," AGOCO spokesman Omran al-Zwei said.The company had restarted the pumps to test the pipeline after a blast more than a week ago ...

South Korea expects to see effect of low oil prices over medium-term SEOUL: South Korea's economy is expected to see definite effects from low global oil prices over the medium-term, its vice finance minister said on Tuesday."About $33 billion is estimated in income transfer from oil producing countries to flow into South Korea," said Vice Finance Minister Joo Hyung-hwan on the sidelines of an event in Seoul.Joo added that lower oil prices should trickle down to consumption and investment, but that had yet to be seen in ...

MOL swings to loss, even though downstream performs well BUDAPEST: Hungarian oil group MOL Plc swung to a quarterly loss on Tuesday, partly due to one-off costs and a steep fall in crude prices.It posted a net loss of 68.6 billion forints ($254.6 million) for the fourth quarter compared with a net profit of 5.2 billion forints in the same period of 2013 and a net profit of 28.5 billion forints in the third quarter of 2014.MOL operates refineries in Hungary, Slovakia and Croatia. ...

Thailand to delay bidding for petroleum concessions indefinitely BANGKOK: Thailand's military government will delay bidding for petroleum concessions indefinitely, pending an amendment to a petroleum law, Prime Minister Prayuth Chan-ocha said on Tuesday.It should take around three months for the planned amendment to be completed, Prayuth told reporters after a cabinet meeting.Copyright Reuters, 2015

Thai Bangchak Petroleum to invest over $600mn in 2015-2016 BANGKOK: Bangchak Petroleum PCL will invest 20 billion baht ($610 million), mainly on exploration and production, in 2015 and 2016 as part of a plan to spend 90 billion baht in the next six years to boost its business, the Thai oil refiner said.About 60 percent of the two-year budget will be spent on upstream exploration, with the rest used in the firm's renewable business, newly-appointed president Chaiwat Kovavisarach told reporters on Tuesday.Bangchak, like other ...

Oil prices slide on lofty supplies NEW YORK: Oil prices fell on Monday, extending last week's slide as US crude supplies linger at historic levels.The US benchmark West Texas Intermediate for April delivery shed $1.36 to $49.45 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for April delivery fell $1.32 to $58.90 a barrel in London trade."The supply dynamic is just too great," said John Kilduff, founding partner at hedge fund Again Capital.A note from Commerzbank rued that ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln