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Oil train regulation passes in California SANFRANCISO: California lawmakers passed legislation requiring railroad companies to tell emergency officials when crude oil trains will chug through the state.The bill would require railroads to notify the state's Office of Emergency Services when trains carrying crude oil from Canada and North Dakota are headed to refineries in the most populous US state.It passed its final vote in the Assembly 61-1, with strong bipartisan support in the state legislature in Sacramento. The bill now goes to Democratic Governor Jerry Brown for his signature."We have a spotlight on this issue because of the seriousness of the risk to public safety that it presents," said the bill's author, Democratic Assemblyman Roger Dickinson, whose district encompasses parts of Sacramento along the trains' route.The legislation follows a disastrous oil train derailment in Canada that killed 47 people and spilled 1.6 million gallons of crude last year.Worried that a similar spill could happen in California, ...

Oil prices rise on positive US data, Ukraine crisis NEW YORK: Global oil prices rose Friday as solid data lifted prospects for demand in the United States and tensions escalated between Ukraine and major energy producer Russia.US benchmark West Texas Intermediate for October delivery pushed higher for the fourth straight day, leaping $1.41 to $95.96 a barrel.Brent North Sea crude for October added 73 cents to settle at $103.19 a barrel in London trade.Despite the gains, oil prices finished lower for the month, with ...
Shell files new plan to drill in Arctic NEW YORK: Royal Dutch Shell has submitted a new plan for drilling in the Arctic offshore Alaska, more than one year after halting its program following several embarrassing mishaps.The plan to drill two new wells in the potentially oil-rich but environmentally sensitive region in the summer of 2015 is not a final decision, the company stressed."If we drill in 2015, the program will consist of two drilling rigs working simultaneously at Shell's Burger prospect in ...
LatAm woos foreign oil firms but state looms large MEXICO CITY: Some of Latin America's largest oil producers are on a charm offensive to woo foreign investment, but are still keen to keep a firm government grip on the sector.Latin America holds 20 percent of the world's oil reserves, and major producers such as Mexico, Brazil and Argentina are reaching out to foreign companies to help tap hard-to-reach crude.Mexico has led the charge by launching a sweeping reform of its oil sector, ending state ...
Oil prices gain; US crude stocks fall 2.1mn barrels NEW YORK: Oil prices gained on Wednesday, with the New York WTI benchmark barely higher as the US weekly stockpiles report showed a fall in inventory.The main US contract, West Texas Intermediate crude for October delivery, added two cents at $93.88 a barrel.Brent North Sea crude for October meanwhile rose 22 cents to $102.72 a barrel in London deals.The main news was a 2.1 million barrel fall in US commercial crude-oil stockpiles, larger than expected.Stocks ...
Crude oil drops on weak US gasoline demand, Cushing build NEW YORK: Crude oil futures edged lower on Wednesday after a report showed declining US gasoline demand in the world's top oil consumer and a build at the key Cushing, Oklahoma storage hub.In its weekly report, the US Energy Information Administration said US crude oil stocks fell by a greater-than-expected 2.07 million barrels last week, but inventories at Cushing, the delivery point for US crude futures, rose 508,000 barrels.The four-week average for gasoline demand fell ...
US oil climbs as traders bet on fall in inventories NEW YORK: Oil prices traded mixed on Tuesday, with New York crude lifted as investors bet on another decline in commercial inventories in the United States, the world's largest oil consumer.US benchmark West Texas Intermediate (WTI) for October delivery gained 51 cents, closing at $93.86 a barrel.Brent North Sea crude for October, the European main contract, slipped 15 cents to $102.50 a barrel in London trade.The WTI crude oil contract gained "in anticipation that US ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln