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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 lower for most of the session, dived after the operator of the Seaway pipeline told shippers that capacity had been reduced because of an unexpected problem at a delivery point.   "When that headline came out, the WTI immediately came under a significant amount of pressure," said Andy Lipow, an independent oil analyst.   The Seaway carries crude stocked in Cushing, Oklahoma, the main oil terminal in the world's biggest crude consumer, to refineries in the Gulf of Mexico.   Lacking ...

US weekly power output rises 1.0pc yr/yr: EEI NEW YORK: Power production in the continental United States for the week ended Jan. 19 rose 1.0 percent from a year earlier to 79,508 gigawatt hours (GWh), according to data released on Wednesday by the Edison Electric Institute.   Output dropped in five of nine US regions, with the largest year-on-year loss in the Central Industrial region, where output dropped 7.7 percent to 13,267 GWh.   The South Central region showed the largest year-on-year gains in output, rising 19.9 ...
Most US spot natgas slides, Cold lifts NY prices to 5-yr high NEW YORK: US spot natural gas prices slid on Wednesday at most price points for the first time in three sessions and only the second time in eight sessions, pressured by moderating weather in the South and West that curbed heating demand.   But with extreme cold still on the horizon for the Northeast, regional gas prices in New York rose to their highest level in five years.   With cold temperatures that topped out near just 20 degrees ...
Colombian oil pipeline bombed after rebels lift ceasefire BOGOTA: Suspected FARC rebels detonated explosives along a section of an oil pipeline near Colombia's border with Ecuador, the state oil company said Monday.   The attack late Sunday came the same day the Revolutionary Armed Forces of Colombia ended a ceasefire it declared unilaterally two months ago as it began peace talks with the Colombian government in Havana.   A spokesman for Ecopetrol, the state-owned oil company, told AFP that the attack occurred in a section of the ...
Canadian LNG project finds buyer for its gas CALGARY: Golar LNG Ltd, which bills itself as one of the world's largest independent operators of liquefied natural-gas carriers, said on Monday it and LNG Partners LLC have agreed to buy all the output of the Douglas Channel LNG project, the first such contract for Canada's nascent LNG industry.   Golar said in a release that it and privately held LNG Partners will buy the 700,000 tonnes of LNG per year, beginning by mid-2015, to be produced ...
Shares, oil prices rebound on US budget talk NEW YORK: World equity and oil prices rebounded on Friday after Republican leaders of the US House of Representatives said they would seek to break a budget impasse next week, while the yen hit a 31-month low against the US dollar ahead of potential asset purchases by the Bank of Japan. On Wall Street, the Dow and the S&P 500 posted five-year closing highs after Republicans said the House will consider a bill to raise the ...
Oil prices rise on US, China demand hopes NEW YORK: Oil prices rose Friday as investors banked on greater demand following encouraging economic data in China and the United States.   New York's main contract, West Texas Intermediate for February, settled at $95.56 a barrel, up seven cents from Thursday's close.   Brent North Sea crude for delivery in March rose 79 cents, closing at $111.89 a barrel.   Crude oil prices were supported by positive economic news out of the world's two biggest crude oil consumers.   On the heels ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln