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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 (KUFPEC).The move raises KUFPEC's holding in the Chevron-led LNG project, in which the state company is already a partner, to 13.4 percent."We are making hard choices in our worldwide portfolio to improve Shell's capital efficiency," Shell chief executive Ben van Beurden, who took over two weeks ago, said in a statement."We are refocusing our investment to where we can add the most value with Shell's capital and technology," he said, adding that the company would ...

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 ...
Sri Lanka bourse at one month high on foreign buying COLOMBO: Sri Lankan stocks rose for a fifth straight session on Wednesday hitting a one-month high on foreign purchases of John Keells Holdings.Local investors remained on the sidelines as yields in T-bills rose for a third straight week.The main index ended 0.21 percent or 11.96 points higher at 5,734.82, its highest close since Feb. 19.Foreign investors were net buyers of 209.7 million rupees worth of shares, extending the year-to-date net foreign inflow to 4.19 billion ...
Australian gas rush set to overhaul Qatar SYDNEY: Australia is set to become the world's biggest liquefied natural gas producer, with analysts predicting it will overtake Qatar by 2020 as it unlocks reserves that could last more than a century. Seven of the world's 10 major LNG projects are under construction Down Under, with Aus$176 billion (US$183 billion) of private Australian and foreign investment in gas projects since 2007. "The projects already under development will take us ahead of Qatar. It's just a case ...
BHP says to invest $845m in Australian coal  SYDNEY: BHP Billiton , the world's largest miner, said on Friday it had approved an $845 million investment to establish a replacement mining area at the Appin Mine in Australia's New South Wales state. The area will have a production capacity of 3.5 million tonnes per year of metallurgical coal from 2016, replacing production at the West Cliff Mine, BHP said in a statement. Copyright Reuters, 2012 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln