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Oil prices mixed with focus on US, Libya supplies NEW YORK: Oil prices sank in London Thursday on the expected return of Libyan crude to the market while US prices edged higher.New York's main contract, West Texas Intermediate (WTI) for delivery in January, added 6 cents to close at $97.50 a barrel.Brent North Sea crude for January fell $1.03 to finish at $108.67 a barrel in London trade.There was little in the news to spark any fundamental move in the New York market, after Wednesday's drop on a sharp fall in US commercial crude stockpiles."US stockpiles saw the biggest decrease since December 2012. However, this has had little effect on prices as it could be due to an end-of-year push to empty facilities and avoid being taxed on inventories,"said Lucy Sidebotham, analyst at energy consultancy Inenco.That "doesn't necessarily indicate strong demand."Brent though headed lower ahead of the expected reopening of Libyan oil terminals, after months of being blockaded by ...

Colombia pumps more crude in 2013 but with fewer wells BOGOTA: Colombia's average crude oil output in 2013 is expected to rise 7 percent from last year to 1.007 million barrels per day, the country's petroleum industry association said on Wednesday, but the pace of exploration for badly-needed new reserves slowed.The association, known as the ACP, expects oil output in 2014 to rise 2 percent to 1.030 million barrels and for 6 percent more exploratory work to be carried out. About 10 percent fewer exploratory ...
Natgas rallies as cold hits U.S.; NY crude oil down NEW YORK: Natural gas futures hit 7-month highs on Wednesday after cold weather forecasts bumped up expectations for heating demand in the United States, while U.S. crude prices tumbled on a report showing a build in gasoline inventories.Copper rose for a fourth straight session in London, hitting a one-month high together with zinc.But gold edged lower after a three-day rally, as a tentative U.S. budget deal supported expectations for an earlier reduction in the Federal ...
Oil prices mixed; WTI falls after US supplies data NEW YORK: Oil prices fell Wednesday after a mixed US petroleum report that showed an encouraging drop in crude supplies but increases in gasoline and distillate stocks.New York's main futures contract, West Texas Intermediate (WTI) for delivery in January, slid $1.07, closing at $97.44 a barrel.Brent North Sea crude for January, the European benchmark, rose 32 cents to settle at $109.70 a barrel in London trade.The Department of Energy reported that US crude-oil inventories fell ...
Shell fills Ho-Ho pipeline to prepare for startup HOUSTON: Royal Dutch Shell said on Wednesday that the reversed Houston-to-Houma pipeline was being filled with crude in anticipation of a mid-December startup to ship a glut of light sweet oil from Texas to Louisiana. The line is operational and preparation includes crude linefill with "product flowing and movement," spokeswoman Destin Singleton said. "Basically getting ready for startup." The pipeline is expected to help relieve a supply bottleneck that is emerging ...
US natgas futures at 6-month high on more cold NEW YORK: US natural gas futures rose to their highest mark in more than six months early on Tuesday, extending strong gains for a second straight day amid forecasts for continued cold weather across most of the nation. "Forecasts for cold weather and expectations of increased heating demands continue to buoy the market," said Addison Armstrong, senior director of market research at Tradition Energy in Stamford, Connecticut. "Last week's 162 billion cubic feet pull from ...
Oil prices fall; Brent loses 2pc after weak German data NEW YORK: Brent oil prices slumped on Monday following news of weaker German industrial output, while New York crude futures dipped slightly. New York's main contract, West Texas Intermediate (WTI) for delivery in January, finished the trading session at $97.34 a barrel, down 31 cents from Friday's close.Brent North Sea crude for January, the European benchmark, tumbled $2.22 to settle at $109.39 a barrel in London trade."Brent has slipped below the $110 level as profit-taking ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln