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Oil prices skid on easing Middle East worries NEW YORK CITY: Oil prices fell sharply Monday amid easing concerns about Middle East tensions and their potential impact on oil supplies.New York's main contract, West Texas Intermediate for November, closed at $103.59 a barrel, a decline of $1.16 from Friday's close.Brent North Sea crude for delivery in November shed $1.06 to settle at $108.16 a barrel in London trade."Supply-side concerns appear be diminishing. A military action against Syria looks increasingly unlikely, while the new Iranian president has signaled his willingness to negotiate over Tehran's nuclear program," said Fawad Razaqzada of GFT."On top of this, production from South Sudan has reached its highest since early 2012 while production in Libya has also resumed in parts of the country," weighing on prices, he said.Addison Armstrong of Tradition Energy agreed Middle East concerns were abating. "The risk premium related to Syria that had built in the oil markets continues to ease," he ...

Oil drops on higher supplies, Iran diplomacy NEW YORK: Global oil prices dropped by more than $1 per barrel on Monday despite upbeat economic data from China and Europe, as higher crude output from Iraq and a possible thaw in US-Iran relations boosted the supply outlook.Oil prices plummeted last week as Libya's production recovered to nearly 40 percent of pre-war capacity after protesters agreed to reopen major western fields, and as fears of US-led military action against Syria faded.Brent has shed around ...
Brazil ready to finance Petrobras in offshore oil auction: paper RIO DE JANEIRO: Brazil's government plans to finance state-run oil company Petroleo Brasileiro SA's participation in the Oct. 21 auction of Libra, country's largest-ever oil discovery, the Estado de S. Paulo daily newspaper reported on Saturday.The government is also considering other measures to help cash-strapped Petrobras, as the company is known, pay for the large investments it is required to make in Libra under a 2010 Brazilian oil law, Estado reported citing an unnamed government ...
Oil prices mixed after volatile week NEW YORK CITY: Oil prices were mixed Friday, with London prices slightly higher despite easing Middle East supply concerns, while New York fell in trade shaped by the end of the October contract.WTI crude for October delivery finished at $104.67 a barrel in New York, down $1.72 from Thursday.Brent North Sea crude for November meanwhile gained 46 cents to stand at $109.22 a barrel in London deals. "The main focus has returned to the oil ...
US Eagle Ford July oil output up 36pc NEW YORK: Oil companies produced just below 600,000 barrels-per-day (bpd) of oil in the South Texas Eagle Ford shale in July, 36 percent more than during the same month a year ago, monthly data from the Railroad Commission of Texas showed on Friday.Companies operating in the 17 oil and natural gas fields of the Eagle Ford, which extend from the Mexican border into East Texas, also drilled more than 128,000 bpd of condensates and 1.35 ...
Eleven firms to join huge Brazil oil auction RIO DE JANEIRO: Eleven oil firms paid more than $900,000 each to enter an auction next month for rights to explore Brazil's huge deepwater Libra field, authorities said Thursday.International giants such as Britain's BP and BG Group, as well as American firm ExxonMobil chose to stay away, according to National Petroleum Agency (ANP) chief Magda Chambriard.The list features several titans of the oil industry, including China National Corporation, Anglo-Dutch Shell, Petrobras, France's Total, China ...
US natgas futures rally on EIA data, then trim gains NEW YORK: US natural gas futures ended slightly higher on Thursday, with the front-month contract jumping to a two-month high early, following a bullish inventory report, and then paring gains as investors took profits.Gas prices shot up nearly 3 percent early, after the US Energy Information Administration reported that total domestic gas inventories rose last week by 46 billion cubic feet to 3.299 trillion cubic feet.Most traders viewed the build as bullish for prices, noting ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln