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Prices jump on Norway pipeline outage, Russia gas cut fears LONDON: British wholesale natural gas and power prices jumped on Monday morning as reduced capacity tightened the system in the short term and the threat of a Russian gas supply cut to Europe over the Ukraine crisis pushed up winter prices.Natural gas prices for delivery within the day and on Tuesday were both trading at 48 pence per therm at 0800 GMT on Monday, up around 5 percent each, and power prices for baseload (24 hours) delivery on Tuesday were up 10 percent to 44.85 pounds ($74.6) per megawatt-hour."Prices rose because tomorrow the Norwegian Langeled pipeline will stop sending gas to Britain for a day and because low winds will reduce renewable output at times of already low nuclear capacity," a utility trader said.Norway's Langeled pipeline, which has the capacity to send 70 million cubic metres of gas a day to Britain, is scheduled to shut for one-day maintenance on ...

Oil prices dip on faltering demand but Libya chaos threatens output LONDON: Brent crude oil prices slipped on Monday as manufacturing growth faltered in Europe and China at a time of ample supplies, although the risk of production setbacks remained high in Libya where the government has lost control of most of the capital.Euro zone manufacturing growth slowed more than expected last month and factory activity in several key countries appeared to be stagnating. French factory output fell at its fastest in 15 months in August.Chinese ...
Oil falls below $103 as supply rises, demand falters LONDON: Brent crude oil dipped below $103 a barrel on Monday as data showed manufacturing growth faltering in Europe and China at a time of ample fuel supply. Euro zone manufacturing growth slowed more than expected last month and factory activity in several key countries appeared to be stagnating. French factory output fell at its fastest in 15 months in August.Chinese factory growth slipped to a three-month low in August as foreign and domestic demand ...
Russia's Rosneft restarts Achinsk refinery after fire MOSCOW: Russia's largest oil producer, Rosneft, said on Monday it restarted primary oil processing at its Siberian Achinsk refinery following a fatal fire in June. State-controlled Rosneft said Achinsk started to produce gasoline and diesel starting from Sept 1, along with some other motor fuels. The refinery will produce over 400,000 tonnes of refined products in September, Rosneft added. Eight people died in the fire at the refinery. The outage has led to additional volumes ...
Statoil says normal operations at In Amenas gas plant resuming OSLO: Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by militants killed forty employees, one of the plant's operators, Statoil, said on Monday. "The corporate executive committee has decided that ordinary rotation is to be resumed at the plant as all defined security measures have been implemented," Statoil said in a statement. The plant is operated by BP, Statoil and Algeria's Sonatrach.Copyright Reuters, 2014 ...
Brent rises on Ukraine crisis but heads for monthly fall LONDON: Brent crude oil prices rose towards $103 a barrel on Friday as escalating violence in Ukraine kept Europe's markets on edge, but prices were still on track for a monthly loss as ample supply and weak demand outweighed political concerns. The European benchmark oil contract had plunged over 12 percent from a nine-month high in June to a 14-month low last week as weak demand led to an oil supply glut. Prices rose on ...
Oil climbs on Ukraine tensions, bright US data LONDON: Global oil prices rose on Friday, supported by renewed Russia-Ukraine tensions and bright US economic growth data, analysts said.Brent North Sea crude for October added 42 cents to $102.88 per barrel in midday London deals.US benchmark West Texas Intermediate for October delivery gained 57 cents to $95.12 a barrel.Ukraine and the West said on Thursday that Russian troops are actively involved supporting pro-Kremlin separatists who have been fighting against Kiev's rule since April. NATO ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln