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Lukoil's 3Q profits fall 61pc MOSCOW: Russia's largest private oil firm Lukoil said Monday its profits dropped 61 percent in the third quarter compared with a year earlier due to the slide in oil prices.The company reported its net income was $623 million in the July-September period. Analysts interviewed by Interfax news agency had estimated net profits at $795 million.Lukoil's revenues slightly exceeded analysts' expectations, even though they dropped 39 percent to $23.4 billion in the third quarter compared with the same period last year.The company said its financial results had been affected by crude oil prices that "dropped nearly two-fold" and accounting costs related to asset sales and project terminations. Lukoil -- which has massively invested to reverse a decline in its output -- said its production had increased by 1.1 percent to an average of 2.3 million barrels a day. The company has benefitted from commercial production at the West Qurna-2 field in ...

Oil prices rise awaiting OPEC gathering LONDON: Oil prices rose Monday as the market looked ahead to the end of the week when OPEC decides on whether to change its crude production target.Attention is also on the United States ahead of Friday's jobs data and on China as the world's biggest energy consumer prepares to publish manufacturing numbers.Ministers representing members of the Organization of Petroleum Exporting Countries begin arriving in Vienna on Tuesday ahead of the cartel's meeting Friday.Analysts said traders ...
Gazprom's Medvedev to meet EU antitrust chief next month BRUSSELS: Gazprom's deputy chief executive is expected to meet EU antitrust chief Margrethe Vestager next month in a meeting that could determine the outcome of the EU's case against the Russian gas giant, a person familiar with the matter said on Friday. The Russian state-controlled company is fighting accusations of over-charging customers and blocking rivals in eastern Europe, a case which could end in a hefty fine and changes to its business model. At the ...
Oil prices retreat LONDON: Oil prices retreated Friday, pushed down by excess supplies, but managed a rise over the week thanks to support from geopolitical tensions in the crude-rich Middle East.At about 1300 GMT, US benchmark West Texas Intermediate for delivery in January was down 94 cents at $42.10 a barrel.Brent North Sea crude for January dipped 27 cents from Thursday's close to stand at $45.19 a barrel.This week's oil price falls were capped by the shooting down ...
Oil market dips in Thanksgiving lull LONDON: World oil prices drifted lower Thursday in muted trading conditions amid the Thanksgiving Day holiday in top consumer United States.At around 1200 GMT, US benchmark West Texas Intermediate for delivery in January was down 12 cents at $42.92 a barrel.Brent North Sea crude for January shed 51 cents compared with Wednesday's close to $45.66 a barrel.Despite the slender losses, WTI prices held close to $43 after US commercial crude supplies rose at a slower ...
UK gas prompt prices rise as Norway outage tightens supplies LONDON: British gas prices rose on Thursday on short supplies as flows from Norway were reduced after extended maintenance at one of its fields.Gas for within-day delivery rose 0.45 pence to 37.75 pence per therm by 0904 GMT, while gas for next-day delivery rose 0.25 pence per therm to 37.75 pence per therm.The system was 22 million cubic metres (mcm) short, with demand forecast at 288 mcm while supply was pegged at 266 mcm, National ...
Oil eases on glut, production outlook LONDON: Oil fell on Thursday, after six days of gains, as concerns that escalating violence in the Middle East would disrupt supply faded, and the focus returned to a persistent market glut.Brent crude was down 32 cents at $45.71 a barrel at 1122 GMT.Concerns that the downing of a Russian jet by Turkey on Monday helped push up oil prices this week on the risk that rising geopolitical tension could hit Middle East supplies.By Thursday, ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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WeeklyNovember 23, 2015
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