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Tenaska proposes 800MW natural gas plant for power HOUSTON: Independent power producer Tenaska is working with the Brownsville, Texas, public power agency to develop an 800-megawatt, natural gas power plant to help the state avoid a looming electricity shortage, according to a statement.   Under an agreement, the Brownsville Public Utility Board would take an ownership interest in the proposed Tenaska Brownsville Generating Station equivalent to 200 MW.   Tenaska is working to sell the remaining capacity to other companies that serve the Rio Grande Valley, one of the fastest-growing areas of Texas.   The state is facing a rising chance of rolling outages in coming years as the supply of electricity fails to keep pace with growing power demand.   "We are pleased to have the Brownsville Public Utilities Board as an anchor customer for the plant," said Greg Kelly, Tenaska's vice president of development.   If Tenaska is able to find buyers for the remaining capacity and obtain necessary permits, construction on the proposed plant could ...

Venezuela CARACAS: Venezuela's state oil company PDVSA has no immediate plans for any new dollar-denominated bond issues, Energy Minister Rafael Ramirez said during a Monday press conference.   "We are not going to keep issuing papers that give us dollar debt," Ramirez said, who is also president of PDVSA, adding that Venezuelan debt coupons were too high.   In 2011, Venezuela and state oil company PDVSA issued a combined $17.5 billion in global bonds.   Issuance dropped sharply in 2012 to $3 ...
US gas prices rise 2 cents; second time since October: survey NEW YORK: The average price in the United States for a gallon of regular gasoline rose in the last five weeks for the second time since early October, as US refineries passed on the cost of more expensive crude oil, according to a widely followed survey released on Sunday.   Gasoline prices averaged $3.3443 per gallon on Jan. 25, up $1.96 cents from Jan. 11, Trilby Lundberg, editor of the Lundberg Survey, said.   Prices had declined for 11 ...
Oil prices pause after strong rally NEW YORK: Oil prices closed slightly lower Friday, marking a pause after weeks of gains driven by a brighter outlook on global energy demand.   New York's benchmark crude oil contract, West West Texas Intermediate (WTI) for March delivery, settled at $95.88 a barrel, down seven cents from Thursday.   In London trade, Brent crude oil for March finished unchanged from Thursday at $113.28 a barrel.   After steadily rising for more than one month, the market took a breather and, ...
US spot natgas climbs on continued cold, NY ends at 5-yr high NEW YORK: US spot natural gas prices rose across the nation on Thursday, with extreme cold weather in the eastern half of the country pushing New York prices to their highest level in five years.   Early in the day gas for Friday delivery on the Transco pipeline at the New York City gate jumped more than $3 to an average of $39 per million British thermal units, the highest average price for New York gas since ...
Brent, US crude hold gains after EIA data NEW YORK: Brent and US crude futures held onto gains on Thursday after an Energy Information Administration report showed US crude stocks rose last week, while gasoline stocks fell and distillate stocks edged higher.   Brent March crude was up 54 cents at $113.34 a barrel at 11:09 a.m. EST (1609 GMT), having traded from $112.40 to $113.60.   US March crude was up $1.07 at $96.30 a barrel, having traded from $95.12 to $96.45.   Copyright APP (Associated Press of ...
US oil price slumps after pipeline cutback NEW YORK: US crude oil prices closed sharply lower Wednesday, dragged down by news that a key pipeline had cut capacity due to a bottleneck.   New York's main contract, West Texas Intermediate, for delivery in March, tumbled $1.45 from Tuesday's close to settle at $95.23 a barrel.   In London trade, meanwhile, Brent North Sea crude for delivery in March settled at $112.80 a barrel, an increase of 38 cents.   The New York market, which had been trading slightly ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln