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UK gas prompt prices rise on undersupplied system LONDON: Prompt natural gas prices in Britain rose on Thursday morning as a dip in supplies from from Norway left the system undersupplied.Prices for within-day delivery were trading at 43.90 pence per therm at 0853 GMT, up 0.70 pence since their last settlement. Prices for delivery on Friday were also up 0.70 pence at 43.70 pence per therm.Traders said demand for gas from power generators is high due to outages at nuclear plants in Britain and as lighting demand rises on a reduction of daylight hours in the country due to seasonal changes.With supply flows at about 158.6 million cubic metres (mcm) per day on Thursday and demand expected to be about 165.9 mcm, the system was 7.3 mcm undersupplied, National Grid data showed.Norwegian imports via Langeled were slightly down to 15 mcm/day from 19 mcm/day, analysts at Thomson Reuters Point Carbon said.Britain has six nuclear reactors offline with a ...

West Africa oil exports to China at near record in Sept LONDON: A surge in Chinese buying to near record highs pushed up West African crude oil exports to Asia in September, a Reuters survey of traders showed on Thursday.Exports from Nigeria, Angola and other West African oil producing nations are set to rise to around 2 million barrels per day (bpd) from the 1.59 million bpd originally planned in August, the survey indicated.There is set to be a substantial rise in exports to China, which ...
Oil slips towards $102 on ample supply LONDON: Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid. Oil supply is expected to exceed demand this year, analysts forecast, and crude oil benchmarks on both sides of the Atlantic Basin are on track to post a second monthly decline. "It looks like there is crude everywhere," said Tony Nunan, a risk manager at Mitsubishi Corp. "There's just too much ...
Preparations for Rosneft's privatisation under way MOSCOW: Russia's Economy Minister said on Tuesday that preparations to sell a part of the state's stake in Rosneft, the world's top oil producer by output, are under way and it could be sold in two tranches, RIA Novosti news agency reported. The Russian government has said it plans to sell 19.5 percent of Rosneft. Russia set out privatisation plans covering a number of companies in 2010, aiming to boost state coffers and improve corporate ...
Iraq's southern oil exports fall by 140,000 bpd so far in August LONDON: Iraq's oil exports from its southern terminals so far in August have fallen by about 140,000 barrels per day, according to loading data and industry sources, dropping further from a record high reached in May.Exports from Iraq's southern terminals have averaged 2.3 million barrels per day (bpd), according to shipping data for the first 26 days of August tracked by Reuters. Two industry sources who also monitor the exports had similar estimates.An advance by ...
Brent rises near $103, EIA shows fall in US oil stocks LONDON: Brent crude oil rose towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week as traders monitored maintenance work in the North Sea and as U.S. crude oil inventories fell.Oil benchmarks on both sides of the Atlantic have fallen by more than 10 percent since mid-June and remain on track to post a second monthly fall against a backdrop of lower imports by the United States and slowing growth in ...
UK gas prices down on slight oversupply, Ukraine-Russia talks LONDON: British wholesale natural gas prices fell on Wednesday morning in response to slight oversupply and after negotiations between Ukrainian and Russian leaders led to the promise of work on a ceasefire plan in Ukraine and talks on gas supplies.Gas prices for next-day delivery were down 2.9 percent to 41.85 pence per therm at 0831 GMT, compared to the previous settlement, while gas for immediate delivery was down 4.1 percent at 41.90 pence per therm.Britain's ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
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WeeklyAugust 28, 2014
Reserves $13.582 bln