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Oil falls towards $61 on supply outlook LONDON: Oil fell towards $61 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output.Saudi Arabia is prepared to increase output and gain market share by meeting the demands of any new customers, Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister Ali al-Naimi as saying.On Sunday Naimi said lower crude prices would help demand by stimulating the economy.Brent fell 23 cents to $61.15 by 1215 GMT. It is down more than 46 percent from the year's peak in June above $115 per barrel. U.S. crude was down 28 cents at $56.85 a barrel."We are going down because you have some OPEC ministers who come every day making statements trying to drive the market down, said Olivier Jakob, an oil analyst at Petromatrix Oil in Zug, Switzerland."They come every day to convey the message that they are not doing anything to restrict ...

Oil falls towards $60 on Saudi supply comments LONDON: Oil fell towards $60 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output.Saudi Arabia convinced its fellow OPEC members that it is not in the group's interest to cut oil output however far prices may fall, the kingdom's oil minister Ali al-Naimi said in an interview with the Middle East Economic Survey (MEES).Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister Naimi as saying Saudi ...
UK gas prices ease on mild weather, strong wind supply LONDON: Prompt natural gas prices in Britain slipped on Monday as mild weather curbed consumption and strong wind supply helped to ease demand.The price for within-day delivery was down by 0.45 pence at 51.75 pence per therm at 0943 GMT.The gas system was close to balanced, less than one million cubic metres (mcm) oversupplied, with flows forecast at 233.7 mcm/day and demand at 233.4 mcm, National Grid data showed.Demand remains below a seasonal norm of ...
Russian gas flows to Ukraine stable KIEV: Russian natural gas flows to Ukraine have been stable since Dec. 9, when Gazprom resumed supplies after a six-month gap caused by a price dispute and unpaid debts, Ukraine's gas transport monopoly said on Monday. "The supplies are stable. Ukraine received 23.4 million cubic metres (mcm) of Russian gas on December 20," Ukrtransgaz spokesman Maxim Belyavsky said. Ukraine has had to cope with low temperatures and a lack of fuel to produce enough power ...
Shares in Monte Paschi down as capital raising plans weigh MILAN: Shares in Banca Monte dei Paschi di Siena fell as much as 4.5 percent in early trade on Monday as traders said the capital raising needs of the troubled Italian bank and its weak balance sheet continued to hurt its stock. MPS Chairman Alessandro Profumo told an Austrian newspaper at the weekend that the bank expects to complete its planned capital increase by July and can use divestment to help plug a hole in ...
Statoil makes small oil discovery in the North Sea OSLO: Norwegian energy firm Statoil has made a small oil discovery in the northern part of the North Sea, the Norwegian Petroleum Directorate said on Monday.The well, drilled about 25 kilometres southwest of the Oseberg South field, encountered an oil column of a total of 80 metres estimated to hold between 6 and 19 million barrels of oil equivalents.Statoil holds 50 percent in the license 035, where the discovery was made. The other partners include ...
Russian gas flows to Ukraine stable: Ukrtransgaz KIEV: Russian natural gas flows to Ukraine have been stable since Dec. 9, when Gazprom resumed supplies after a six-month gap caused by a price dispute and unpaid debts, Ukraine's gas transport monopoly said on Monday."The supplies are stable. Ukraine received 23.4 million cubic metres (mcm) of Russian gas on December 20," Ukrtransgaz spokesman Maxim Belyavsky said.Ukraine has had to cope with low temperatures and a lack of fuel to produce enough power to cover ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln