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Colombia August oil output down 3.2pc BOGOTA: Colombia's crude oil production averaged 999,000 barrels per day in August, 3.2 percent lower than in the same month of 2013, but up 3.2 percent compared with July, the Energy Ministry said on Wednesday.Though output was affected by rebel attacks on pipelines and several system failures, the armed forces are implementing a new plan to curb bombings, the statement said. The August figure takes average daily output this year to 983,000 bpd.That is still below 2013's average output of 1.007 million bpd, a cut which has concerned the government which had banked on higher oil revenues to fund the budget.Colombia's natural gas production in August totaled 1.08 billion cubic feet per day, the ministry data showed, down 9.8 percent compared with the same period last year and a 1 percent increase over July.Copyright Reuters, 2014 ...

Brent crude price slides further NEW YORK: Oil prices in London continued their steady slide Tuesday amid a flush market and little upside to the current demand picture.But US prices were stable, allowing a further narrowing of the price gap between the two global benchmarks.London's main contract, Brent North Sea crude for October delivery, lost $1.04 to end at $99.16 a barrel, its lowest since April 2013.In New York, West Texas Intermediate (WTI) for October edged up nine cents to ...
Canada crude: Heavy crude grades hit 14-month high CALGARY: Canadian heavy crude prices touched a 14-month high on Monday, driven by improving market access, maintenance on oil sands projects cutting into supply and linefill on Enbridge Inc's new Flanagan South pipeline. Even so, some traders in Alberta's oil capital of Calgary were surprised by the extent of the gains in Western Canada Select (WCS), the de facto heavy crude benchmark. WCS for October delivery last traded at $13.90 per barrel below the West ...
US crude export prospects expand niche for oilfield stabilizers HOUSTON: Orders have surged for a type of oilfield equipment primarily used for to make a light variety of crude safe for pipelines, after a federal ruling signaled that the specialized units also offered a workaround for companies eager to export oil from the US shale boom. The units, known as stabilizers, process that type of crude, known as condensate, just enough to qualify it for export as a refined product, allowing oil producers to ...
Petrobras seeks director's testimony on alleged bribery SAO PAULO: Brazil's state-run oil company Petrobras has asked a federal judge for access to testimony from a jailed former director who, according to media reports, named dozens of politicians in an alleged kickback scheme. Petrobras said in a statement on Monday that as part of an internal investigation, it had also sent letters to companies cited in Brazilian media reports since Friday, seeking further information about allegations of their involvement.Copyright Reuters, 2014 ...
Oil drops on weak economic data from China, Japan NEW YORK: Oil prices dropped Monday with the European benchmark contract slipping below $100 a barrel on concerns about fragile demand, heavy supply and a strengthening US dollar.US benchmark West Texas Intermediate for October delivery fell 63 cents to $92.66 a barrel on the New York Mercantile Exchange, its lowest level since January.European benchmark Brent oil for October delivery declined 62 cents to $100.20 a barrel, after earlier falling below $100 a barrel for the ...
Brent, US oil fall again on weak data NEW YORK: Brent crude fell $1 to below $100 a barrel on Monday for the first time in more than a year as Chinese and U.S. data pointed to slower-than-expected growth in the world's top oil consumers, while U.S. crude also fell.Weak economic growth combined with ample supply has pushed oil prices down from a high for the year above $115 hit in June, complicating efforts by central banks to ward off deflation and putting ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln