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Oil plummets before US inventories data LONDON: Oil plunged Thursday before the release of a closely-watched report that is expected to show a surge in US stockpiles to a 33-year high, adding to a global supply glut.US benchmark West Texas Intermediate for delivery in March dived $2.07 to $50.07 per barrel compared with Wednesday's close.Brent North Sea crude for April delivery slid $1.55 to stand at $58.98 a barrel in London early afternoon deals."Activity this morning has seen prices ... sharply lower as WTI futures test tentative support around $50," said Sucden analyst Kash Kamal."With the release of official EIA energy stockpile data, initial weekly jobless claims (and) the Philly Fed business outlook reading ... investors will have plenty to keep themselves busy with today."The weekly report by the Energy Information Administration (EIA) is expected to show supplies increased by three million barrels to 420.9 million in the week through February 13, according to a survey ...


Oil falls sharply after US crude inventories rise LONDON: Brent oil prices slipped below $59 a barrel on Thursday after another big weekly build in U.S. crude inventories and a possible rise in Saudi output stoked worries about oversupply.U.S. crude stocks rose by 14.3 million barrels last week, data from industry group the American Petroleum Institute (API) showed on Wednesday, compared with analysts' expectations for an increase of 3.2 million barrels.If official data due at 1600 GMT from the U.S. Energy Information Administration ...

Norway's Troll gas outage rises to 15 mcm on Thursday OSLO: The ongoing capacity cut at Norway's Troll gas field has been expanded to an estimated 15 million cubic metres (mcm) on Thursday from a previous estimate of 10 mcm, pipeline operator Gassco reported.Copyright Reuters, 2015

Norwegian gas output down 15.6mcm on Thursday due two outages OSLO: Norway's gas production capacity will be cut by a combined 15.6 million cubic metres on Thursday due to two outages, gas systems operator Gassco said.Production capacity at the country's biggest offshore field, Troll, will be reduced by 10.0 million cubic metres (mcm) on due to a compressor failure, Gassco said on its website.The outage, which started at 1800 GMT on Wednesday, is expected to last for one to two days, it added.Another outage will ...

US crude prices fall sharply as inventory grows TOKYO: US oil futures tumbled more than 3 percent on Thursday to a one-week low around $50 a barrel after data showed a surprisingly sharp build in US crude inventories.US crude for March delivery fell to a session low of $50.23 a barrel, down almost $2 from Wednesday's settlement. The contract was trading down $1.51 at $50.63 by 0006 GMT, after settling down $1.39 on Wednesday.London Brent crude for April delivery was yet to trade, ...

Japan's LNG, thermal coal imports hit records in Jan TOKYO: Japan's imports of liquefied natural gas and thermal coal rose to records in January on an increased need for fuel to fire power plants due to the extended shutdowns of nuclear reactors following the Fukushima crisis, customs-cleared Ministry of Finance data showed on Thursday.The monthly records for LNG and thermal coal imports follow record annual highs posted last year for the two fuels. All 48 commercial nuclear reactors in Japan have been shut since ...

Oil prices retreat ahead of stockpile report HONG KONG: Oil prices fell Thursday ahead of the release of a closely watched report that is forecast to show a surge in US stockpiles to 33-year high, adding to a global supply glut.US benchmark West Texas Intermediate fell $1.46 to $50.68 while Brent eased 98 cents to $69.55.The weekly report by the Energy Information Administration (EIA) is expected to show supplies increased by three million barrels to 420.9 million in the week to through ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln