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Russia's Gazprom says Western sanctions won't hurt YUZHNO-SAKHALINSK: Russia's Gazprom can substitute all imported equipment that is subject to Western sanctions against the company over Russia's role in Ukraine, and the sanctions would not succeed, Gazprom's depurty CEO told an industry conference. "In Gazprom we imported only 10 per cent of equipment and services, 90 per cent of our demand is covered by Russia's producers," Alexander Medvedev said at the conference on the eastern Russian island of Sakhalin. "No successful implementation of sanctions (in history) is known," Medvedev added, when asked if sanctions would hurt the company.Copyright Reuters, 2014 ...

Oil prices drop on strong dollar LONDON: Global oil prices fell Monday on the back of the strong dollar and plentiful supplies, on the eve of key manufacturing data from China, the world's top energy consumer.Brent North Sea crude for delivery in November slid 72 cents to stand at $97.67 a barrel in London deals. US benchmark West Texas Intermediate for October lost 43 cents to $91.98 a barrel."The strong dollar currently weighs heavily on market sentiment in the oil market," ...
Total to sell more assets, cuts oil output target LONDON: French oil company Total is to sell more assets and cut costs to generate more cash and is to revamp exploration plans after reducing its oil production target. Total, which has struggled with production outages in Libya, Kazakhstan and Nigeria, on Monday cut its 2017 output goal to 2.8 million barrels of oil equivalent per day from a previous 3 million. France's biggest company by market value and the West's fourth biggest oil and ...
UK gas prompt nudges higher on less Norwegian gas LONDON: Prompt natural gas prices in Britain rose on Monday morning as low imports from Norway left the system undersupplied.Prices for within-day delivery were trading at 49.60 pence per therm at 0836 GMT, up 0.20 pence since their last settlement. Prices for delivery on Tuesday were up 0.05 pence at 49.40 pence per therm.With supply flows at about 153.8 million cubic metres (mcm) per day on Monday and demand expected to be about 167.8 mcm, ...
Total to sell off more assets, cuts oil output target LONDON: French oil company Total is to step up plans to sell off assets, cut investments and reduce operating costs to deliver on a promise to generate $15 billion in free cash flow in 2017.The oil group, which has struggled with production outages in Libya, Kazakhstan and Nigeria, said on Monday it had reduced its 2017 output goal to 2.8 million barrels of oil equivalent per day from a previous 3 million."We have more than ...
Oil falls below $98 on sluggish demand, ample supply LONDON: Brent crude fell below $98 a barrel on Monday, dropping for the third session in four, as sluggish demand and ample supplies outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC).Comments from OPEC's secretary general last week that the group could cut output next year buoyed Brent, but investors' attention turned back to the gloomy economic outlook in Europe and China, which has curbed oil demand.A ...
EU carbon tops 6 euros as buyers lend support LONDON: European carbon prices were poised to end the week almost flat after buyers stepped in to lift prices from six-week lows and restore optimism that supply curbs would drive further gains.By 1547 GMT, front-year EU Allowances were up 4 cents at 6.03 euros ($7.75) a tonne, little changed in a quiet session with barely 5 million units changing hands. The benchmark carbon contract has crept above 6 euros in steady trade that traders said ...

 



 
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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