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Australia shares flat in choppy trade, oil sector weak SYDNEY/WELLINGTON: Australian shares were a shade lower on Wednesday, as investors remained cautious over turmoil in Iraq and ahead of the Federal Reserve's two-day meeting while the oil sector dragged. Oil companies were the heaviest drag on the index as Woodside Petroleum Ltd came out of a trading halt to lose 3.7 percent to A$41.28, its lowest price since May 23. Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia's top oil and gas producer, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia. Among other oil producers, Santos Ltd was down 1 percent, while Oil Search Ltd declined 0.4 percent. Brent crude held steady above $113 per barrel while US crude weakened slightly overnight. The United States put the onus on Iraqis to defeat a Sunni insurgency as President Barack Obama prepared to meet ...

BHP boosts iron ore output and lifts guidance SYDNEY: Global mining giant BHP Billiton raised its fiscal year iron ore production outlook for a second time this year on Wednesday after seeing a better-than-expected jump in output for January-March.The world's biggest mining company increased guidance for production the year to June to 217 tonnes, up from the 212 tonnes previously forecast. That comes despite concerns about the strength of the economy in China, the number one buyer of ore.It said production in January-March ...
BP partners New Zealand Refining, Z Energy to buy crude WELLINGTON: BP has formed a joint venture with New Zealand Refining Co Ltd and Z Energy to buy crude oil for New Zealand's only refinery to help defend their common market against fuel imports. BP and Z Energy are NZ Refining's two biggest customers for petroleum products. At present, the 110,000 barrels-per-day (bpd) refinery operates only when crude shipments arrive and has to change its settings to cope with different types of crude. The agreement ...
Shell sells Australia gas project stakes for $1.14bn LONDON: Royal Dutch Shell said on Monday it had agreed to sell stakes in a gas project in Western Australia for $1.14 billion as part of the oil company's drive to improve its return on investment.Shell said it is selling an 8 percent stake in the Wheatstone and nearby Iago gas fields as well as a 6.4 percent stake in the related Wheatstone liquefied natural gas (LNG) project to the Kuwait Foreign Petroleum Exploration Company ...
Shell, OMV, Mitsui to drill deepwater well in New Zealand WELLINGTON: Royal Dutch Shell, Austria's OMV and Japan's Mitsui will drill an exploration well off New Zealand's southeast coast, becoming the latest group to search for natural gas in the country's largely untapped deepwater basins. The Shell-led project would follow a programme by Anadarko Petroleum of the United States to drill two deepwater wildcat wells in New Zealand this year in a joint venture with Australia's Origin Energy Ltd.Anadarko has already started drilling its first ...
Australia shares finish above 5,000 points, but pare early gains SYDNEY: Australian shares ended 0.6 percent up on Monday, driven by financial and resource stocks as sentiment was buoyed by China's interest rate reform and a government election win in Japan, but losses in other Asian indices pared early gains.The S&P/ASX 200 index climbed 29.8 points to finish at 5,001.9 after hitting a two-month high earlier in the session. The benchmark fell 0.4 percent on Friday.New Zealand's benchmark NZX 50 index rose 0.3 percent or ...
Brent slips towards $105 after gains, supply worries stem losses SINGAPORE: Brent futures slipped back towards $105 a barrel on Tuesday as investors saw the recent surge in prices as an opportunity to book profits, with concerns of an escalation in tensions in the Middle East helping to stem losses.The benchmark hit its highest in nearly a month above $105 in the previous session as supply worries following Israeli air strikes on Syria trumped concern of weak global demand. Oil also drew support from a ...

 



 
IndexClosingChg%
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln