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Brazil's Braskem to sign revised naphtha contract with Petrobras RIO DE JANEIRO: Brazil's Braskem SA, Latin America's largest petrochemical company, said on Friday it had agreed to a revised naphtha supply contract with shareholder Petrobras, staving off a threatened shutdown of its Brazilian plants.The contract with Petroleo Brasileiro SA, as Petrobras is formally known, extends the supply agreement until Aug. 31, 2015, Braskem said in a statement sent to reporters by email.It also said the revised contract will use a price retroactive to March 1, when the new agreement is expected to be signed.Without a contract, many of its Brazilian plastics and chemicals plants will have to shut down, chief executive Carlos Fadigas said earlier this month.Braskem's Brazilian operations have been suffering in the face of a corruption scandal at Petrobras and because its Brazilian plants must pay more for feedstock such as natural gas and naphtha than their foreign competitors or their own plants in the United States.Petrobras ...

Oil rebounds in volatile trade NEW YORK: Oil prices rebounded Friday at the end of a volatile week of trading as dealers weighed the global supply glut and slow growth in the world economy.US benchmark West Texas Intermediate for April advanced $1.59 to close at $49.76 a barrel on the New York Mercantile Exchange, a day after WTI lost almost $3.In London, Brent North Sea crude for April delivery, the global benchmark, surged to $62.58 a barrel, up a hefty ...
Oil retreats as rising US inventories continue to weigh NEW YORK: Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.While Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia, U.S. crude losses more than wiped out Wednesday's gains.Brent April crude fell $1.58, or 2.56 percent, to settle at $60.05 a barrel, off a $62.63 intraday ...
Oil tumbles on revived oversupply worries NEW YORK: World oil prices fell sharply Thursday as the market appeared to do a double-take on the US oil inventories report showing US crude stockpiles hit a fresh record.The US benchmark, West Texas Intermediate for April, dived $2.82 to close at $48.17 a barrel on the New York Mercantile Exchange, more than wiping out the prior day's rebound.European benchmark Brent North Sea crude for April delivery sank $1.58 to $60.05 a barrel in London.Both ...
Oil falls as rising US inventories continue to weigh NEW YORK: Crude oil futures fell on Thursday, as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand.Brent losses were tempered by those expectations for improving global demand and geopolitical concerns about energy supplies from Libya and Russia.Brent April crude was down 65 cents at $60.98 at 12:19 EST (1719 GMT), off a $62.63 intraday peak. On Wednesday, Brent surged 5 percent.U.S. April crude was down ...
US crude futures extend losses as ample supply pressures NEW YORK: US crude futures extended losses to more than 6 percent and fell more than $3 a barrel on Thursday in the last hour of trading ahead of settlement.Ample global supply and increasing U.S. commercial inventories weighed on prices after expectations for better demand going forward lifted prices on Wednesday, traders and analysts said.U.S. April crude was down $2.71, or 5.3 percent at $48.28 a barrel at 2:25 p.m. EST (1925 GMT), having slumped ...
US Gulf Coast crude stock at highest seasonal record last week NEW YORK: US Gulf Coast crude stockpiles rose to 214.4 million barrels last week, the highest seasonal total on record, according to figures released Wednesday by the US Energy Information Administration. US East Coast distillate stockpiles fell to 31.8 million barrels last week, the lowest seasonal figure since last year, EIA data shows. Copyright Reuters, 2015 ...

 



 
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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
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WeeklyFebruary 26, 2015
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