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US refinery strike widens to include nation's largest refinery HOUSTON: The US refinery strike widened as workers at the nation's largest refinery walked off their jobs at 12 AM CST (0600 GMT) on Saturday, according to the United Steelworkers union (USW).Shortly after talks between union and oil company representatives ended on Friday night, the union notified Motiva Enterprises of a strike by its members at the company's 600,250 barrel per day (bpd) refinery in Port Arthur, Texas.The USW also gave notices on Friday of strikes to begin in 24 hours at Motiva's 235,000 bpd Convent, Louisiana and 238,000 bpd Norco, Louisiana refineries and the Shell Oil Co chemical plant in Norco, the union said."The industry's refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage," USW International President Leo Gerard said in a statement.Motiva is a 50-50 joint venture of Royal Dutch Shell Plc and Saudi Aramco. Shell's ...

Oil prices fall in New York NEW YORK: New York oil prices fell in late trade Friday, with the WTI contract breaking away from a stable trade in London to fall near the $50 dollar line.West Texas Intermediate for March delivery settled at the official close at $50.32 a barrel, down 82 cents from Thursday, as the contract expired. WTI then continued to fall further in late trade, dropping below $50.In London, Brent crude for April delivery was flat at $60.22 ...
Blast-hit Exxon refinery recently cited for violations NEW YORK: The Exxon Mobil Corp refinery in Torrance, California, that was hit by an explosion this week was cited in November for eight serious violations following state inspections last year, according to documents released on Thursday.The blast and blaze that ripped through a gasoline processing unit at the refinery near Los Angeles on Wednesday injured four workers slightly. It prompted schools in the area to keep students and staff indoors as a precaution.On Nov. ...
Oil edges-up as US rig count likely to fall further TOKYO: Oil markets edged up on Friday to halt a two-day drop, helped by expectations that data later in the day would show a continuing decline in the US oil rig count, a clear sign of the pressure the tumble in crude has put on oil producers.A weekly survey by Baker Hughes last week showed the US oil rig count fell to its lowest since August 2011, though government data indicated US oil output has ...
Oil prices fall after another rise US inventories NEW YORK: Oil prices fell Thursday after the US government reported crude inventories increased again to record highs, adding to concerns about the global supply glut.US benchmark West Texas Intermediate (WTI) for delivery in March dropped 98 cents to close at $51.16 a barrel, after shedding nearly $1.40 on Wednesday.In London, Brent North Sea crude for April delivery settled at $60.21 a barrel, down 32 cents from the prior trading session.WTI futures dropped sharply in ...
Oil down but sharply off early loss; stock build less than feared NEW YORK: Oil prices fell for a second day on Thursday, after the U.S. government reported another record high in crude inventories, but prices bounced sharply off session lows on relief the builds were less than an industry group had estimated.Prices also retraced losses as investors covered more short positions in U.S. crude futures a day ahead of the expiry of the front-month contract.U.S. commercial crude oil inventories rose 7.7 million barrels last week to ...
Oil recoups most early losses as US stock build less than feared NEW YORK: Oil prices recovered much of their early losses Thursday after weekly stock builds turned out to be less than some had feared, although the U.S. government reported another record high in crude inventories.Traders said U.S. crude futures were also seeing short-covering ahead of the expiry of its front-month contract.Brent was down 20 cents at $60.33 a barrel by 2:22 p.m. EST (1818 GMT), after falling as low as $57.80 earlier. On Tuesday, it ...

 



 
Index Closing Chg%
Arrow DJIA 18,096.90 0.58
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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