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Brent rises on Libyan unrest NEW YORK: Brent crude oil rose on Wednesday on continued concerns over Libyan oil supply, while US crude oil fell after government data showed a build in stockpiles at the US benchmark delivery point. Libyan unrest boosted Brent's geopolitical premium, sending US oil's discount to the European benchmark to a one-month low of more than $14 a barrel. Libya's civil unrest over the last seven months has interrupted oil exports. On Wednesday the Libyan oil minister said the country would sue and stop doing business with any foreign firms that buy oil from ports seized by protesters, after those protesters offered oil at $90 a barrel. Libyan Prime Minister Ali Zeidan warned its navy could sink oil tankers that approach eastern ports controlled by armed protesters led by tribal leader and 2011 civil war hero Ibrahim Jathran. In the US, crude stockpiles ...

US oil output to reach 43-year record in 2015: EIA NEW YORK: The US Energy Information Administration said on Tuesday oil production in the United States will reach a 43-year high in 2015 as output grows from shale fields. The United States will produce 9.3 million barrels per day next year, up from a forecasted 8.5 million bpd this year, EIA said in its monthly short-term energy outlook report. The administration also revised non-OPEC oil production for 2014 up 140,000 bpd ...
Oil prices dip as more Libyan oil returns NEW YORK: Oil prices Monday fell for a fifth straight session on higher output from Libya and skepticism of recent reports that suggest tightening US oil supplies.US benchmark West Texas Intermediate for February delivery declined 53 cents to $93.43 a barrel on the New York Mercantile Exchange. US prices have been in retreat since closing at $100.32 a barrel on December 27.European benchmark Brent oil for February delivery fell 16 cents to $106.73 a barrel ...
Crude oil extends losses; traders anticipate Libyan supply NEW YORK: Crude oil prices dropped on both sides of the Atlantic for the fourth straight session on Friday as traders anticipated the return of Libyan oil and US inventory data hinted at weak demand. Libya hopes to resume production at one of its largest oilfields, El Sharara in the west of the country, within three days after protesters agreed to suspend their two-month stoppage, officials said on Thursday. An increase ...
US natgas futures rebound on winter heating demand NEW YORK: US natural gas futures rose on Friday, shrugging off a smaller than expected drop in stockpiles last week as winter heating demand continued to offer momentum. Natural gas stocks fell by 97 billion cubic feet during the week ending Dec. 27, according to the Energy Information Administration, smaller than the 126 draw forecast in a Reuters poll, which pressured prices. The fall was smaller than the 126 bcf drop ...
Oil prices tumble on signs of Libyan comeback NEW YORK: Oil prices Thursday fell sharply on news that a major Libyan field could come back on line later this week. US benchmark West Texas Intermediate for February delivery fell $2.98 to $95.44 a barrel on the New York Mercantile Exchange.In London, Brent oil for February delivery tumbled $3.02 to $107.78 a barrel in London. A spokesman for the Libyan National Oil Corporation (NOC) told AFP Thursday that the 330,000 barrel a day El ...
Petrobras starts production from Roncador field platform SAO PAULO: Brazil's state-run oil company Petroleo Brasileiro SA has started production from its P-55 platform in the offshore Roncador field, the company said in a statement on Wednesday. The platform started operating on Tuesday and will be linked to 11 oil-producing wells in the field in the Campos Basin. P-55 is expected to process 180,000 barrels of oil and compress 6 million cubic meters of natural gas per day. ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln