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Kenya seeks over 670,000 tonnes oil products for July-August SINGAPORE: Kenya's oil importers are seeking more than 670,000 tonnes of oil products for delivery over July-August, continuing its persistently high imports during the summer, industry sources said.Kenya has been importing record volumes of oil products as its economy gathers steam, soaking up some of Asia's excess supply and helping put a floor under refining margins.Industrial expansion and a growing fleet of automobiles in a region that lacks refining capacity have stoked East African appetite for oil product imports.In the latest tender, Kenya's oil importers are seeking 357,141 tonnes of 50ppm sulphur diesel, 217,890 tonnes of gasoline and 97,625 tonnes of jet fuel.The tender will close on June 23.They last bought nearly 200,000 tonnes of oil products for delivery over June and July from KenolKobil, Gapco, Hashi Energy and Mogas Kenya.Copyright Reuters, 2015


Saudi Arabia's April crude oil exports down slightly KHOBAR: Saudi Arabia's April crude exports fell slightly to 7.737 million barrels per day (bpd) from 7.898 million bpd in March, figures supplied by Riyadh to the Joint Organisations Data Initiative (JODI) showed.Output from the world's largest oil exporter inched up to 10.308 million bpd from 10.294 million bpd, according to JODI.Copyright Reuters, 2015

Gazprom inks plan for new gas pipeline to Germany SAINT PETERSBURG: Russian gas giant Gazprom on Thursday agreed a plan with Shell, E.ON and OMV aimed at building a new gas pipeline to Germany, the companies said in a statement. In the memorandum of understanding, Germany's E.ON, Austria's OMV and Anglo-Dutch Shell would join up to construct the new route under the Baltic Sea from Russia with a capacity of 55 billion cubic metres per year, the statement said.The project -- for which no ...

Brent edges up, US crude off low as Fed weakens dollar NEW YORK: Brent crude edged up and U.S. crude eased on Wednesday in volatile trading as both contracts trimmed losses after the Federal Reserve left the outlook for interest rate increases uncertain, brokers and analysts said.The Fed said the economy was likely strong enough to support an interest rate increase by the end of the year, although it lowered expectations for 2015 economic growth because of a weak start to the year."The Fed again cited ...

Oil prices up in Asian trade SINGAPORE: Oil prices rose in Asia Wednesday as dealers awaited the latest US energy report and a Federal Reserve policy announcement later in the day that dealers hope will shed light on its plans for hiking interest rates, analysts said.US benchmark West Texas Intermediate for July delivery gained 10 cents to $60.07 while Brent crude for August added five cents to $63.75 in late-morning trade.Markets are hoping for some clues about the US central bank's ...

US crude oil up as tropical storm goes ashore in Texas NEW YORK: US crude prices rose on Tuesday as a tropical storm moved ashore in the oil-producing state of Texas, but global oversupply limited gains and pressured Brent futures.Expectations that U.S. crude inventories fell again last week and strong RBOB gasoline futures also lent support.U.S. July crude rose 45 cents to settle at $59.97 a barrel, having swung from $59.42 to $60.37.Brent front-month August crude fell 25 cents to settle at $63.70, off its $64.41 ...

Oil prices steady after weak start LONDON: Oil prices steadied Tuesday after starting the week with losses amid concerns over ample supply and the breakdown in Greece's debt talks.US benchmark West Texas Intermediate for delivery in July rose 31 cents to $59.83 a barrel compared with Monday's close.Brent North Sea crude for August was up three cents at $63.98 a barrel London afternoon deals."Brent crude oil is trading in a tight range... and the medium-term outlook remains bearish due to the ...


 



 
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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-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln