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Oil prices rise on Libya disruptions NEW YORK: Oil prices jumped Monday after armed protesters in Libya refused to lift a months-long blockade of key oil terminals in the eastern part of the country.US benchmark West Texas Intermediate for January delivery gained 88 cents to $97.48 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for January delivery jumped $1.64 to $110.47 a barrel in London."The big story is about Libyan oil production remaining off the market," said Andy Lipow, president of Lipow Oil Associates. "That is definitely supporting both Brent and WTI prices."Ibrahim Jodhrane, head of the security guards blockading terminals in Eastern Libya, Sunday told broadcaster Al-Nabaa that the government had not met conditions to lift the blockade.In July, the Al-Magharba tribe launched a blockade of terminals in Zueitina, Ras Lanouf and Al-Sedra. The blockade is linked to an effort to win oil revenues and political autonomy for Cyrenaica, the oil-rich eastern ...

US natgas futures slip on profit-taking, weather NEW YORK: US natural gas futures slid on Monday on forecasts for reduced heating demand this week and on profit-taking after prices reached seven-month highs last week. "Natural gas futures are receding this morning on a combination of a round of profit-taking selling motivated by what looks like a moderating weather pattern working its way across the country over the next week or so," Energy Management Institute partner Dominick Chirichella said in a ...
U.S. natgas futures slip 2pc on profit-taking, weather NEW YORK: U.S. natural gas futures slid more than 2 percent in early trading on Monday on forecasts for reduced heating demand this week and on profit-taking after prices reached seven-month highs last week."Natural gas futures are receding this morning on a combination of a round of profit-taking selling motivated by what looks like a moderating weather pattern working its way across the country over the next week or so," Energy Management Institute partner Dominick ...
US oil ouput to surge to 9.6mn bd by 2016 WASHINGTON: US oil production will continue its surge to hit a record 9.6 million barrels a day in 2016, the US Energy Department said Monday in its annual forecast.Riding the gains in production from "tight" oil -- such as shale reserves tapped by hydraulic fracturing, or fracking, US crude output will add another 800,000 barrels a day over the next two years, the department's Energy Information Administration said.After the 2016 peak, which will top the ...
Oil prices mixed ahead of Libya's return to market NEW YORK: Oil prices traded mixed Friday as Libya was expected to begin exporting more crude into a market already flush with supply.On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery fell 90 cents to $96.60 a barrel.In London, Brent North Sea crude for January finished 16 cents higher at $108.83.Traders were waiting to see if a Libyan tribe leader's pledge to open up its crude terminals on December 15 would ...
Canada looks to require emergency response plans for oil OTTAWA: Canada is looking at classifying crude oil as a higher-risk dangerous good requiring emergency response plans for shipping by rail following a train accident that leveled the heart of a Quebec town in July, a government official said on Friday. The federal government's transport department will draft proposed regulations in February to require emergency response assistance plans for the transportation of crude oil, said Jan O'Driscoll, a spokesman for Transport Minister Lisa Raitt. ...
Petrobras damaged refinery to have capacity cut after repair RIO DE JANEIRO: Petrobras' damaged REPAR oil refinery will only be able to process two-thirds of its previous volume after repairs, a director at Brazil's oil regulator said, a situation likely to force the company into more money-losing fuel imports than expected. Output at the 190,000 to 200,000 barrel-per-day refinery near Curitiba, Brazil, will be limited by damage to the structure of its distillation unit and cooling equipment, Waldyr Martins Barroso, a director ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 04, 2015
Reserves $17.491 bln