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UK gas prompt gas prices rise on lower Norwegian supplies LONDON: Prompt natural gas prices in Britain rose on Thursday morning as lower supplies from Norway led to an undersupplied system.Prices for within-day delivery were trading at 56.20 pence per therm at 0940 GMT, up 1.15 pence from their last settlement. Prices for delivery on Friday were up 0.90 pence at 56.00 pence per therm.With supply flows at about 229.7 million cubic metres per day (mcm/d) and demand expected to be about 254.9 mcm, the system was 25.2 mcm undersupplied, National Grid data showed.Norwegian imports via the Langeled pipeline were down by around 10 mcm/d on Thursday morning, according to National Grid data.Langeled is Britain's main sub-sea gas import route with a total capacity of around 70 million mcm/d.The drop in flows through Langeled was a result of an unplanned outage at Statoil's Troll field off Norway.Gas output from the field will be reduced by 16 mcm/d on Thursday due ...

Oil slips below $78 a barrel hit by Europe, China data LONDON: Brent crude oil fell below $78 a barrel on Thursday, as the demand outlook was hit by weak economic data in China and Europe, outweighing support from possible cuts in oil output at an OPEC meeting next week."We've had disappointing data from China and Europe, and U.S. crude inventories are high, so there's plenty of supply, but tepid demand," said Michael Hewson, chief market analyst at CMC Markets.Brent crude futures fell 42 cents to ...
Ineos to invest $1bn in UK shale exploration LONDON: Refiner and petrochemical group Ineos will invest around $1 billion in shale gas exploration in the United Kingdom, it will announce on Thursday, according to the BBC.The BBC, without citing sources, said Ineos believes shale gas will transform the economics of its Grangemouth refinery and petrochemical plant in Scotland, which was at the centre of a bitter industrial dispute last year.Ineos declined to comment ahead of a press conference later in the day.In September, ...
Oil climbs above $79 on speculation OPEC may cut LONDON: Brent oil gained slightly, heading towards $78 a barrel on Wednesday on speculation OPEC may act to stabilise prices that have fallen by almost a third in five months when it meets next week.However gains were trimmed after weekly U.S. government data showed a rise in crude inventories there.Brent was up 27 cents at $78.74 a barrel at 1552 GMT, after settling 84 cents lower in the previous session.U.S. crude was up 1 cent ...
Oil rebounds before US energy report LONDON: Global oil prices rebounded slightly on Wednesday as traders awaited key US stockpiles data and eyed next week's crucial OPEC output meeting.Brent North Sea crude for delivery in January rose 56 cents to $79.03 a barrel nearing midday in London.US benchmark West Texas Intermediate for December added 24 cents to $74.85 per barrel. Later on Wednesday, all eyes will be on the weekly commercial crude stockpiles report from the US government's Department of Energy ...
UK prompt gas prices rise as demand outstrips supply LONDON: Prompt natural gas prices in Britain rose on Wednesday morning as solid demand from utilities outstripped supply.Prices for within-day delivery were trading at 55.00 pence per therm at 0916 GMT, up 1.55 pence since their last settlement. Prices for delivery on Thursday were up 0.40 pence at 55.00 pence per therm.With supply flows at about 246 million cubic metres (mcm) on Wednesday and demand expected to be about 255 mcm, the system was 9 ...
Oil steadies below $79 as market awaits OPEC LONDON: Brent crude oil steadied below $79 a barrel on Wednesday as data showed Saudi Arabia increased crude exports in September despite signs of an oversupplied market and producers appeared divided ahead of an OPEC meeting to discuss output.All eyes are on OPEC's response to a drop in oil prices of nearly one-third in recent months, with some smaller members calling for production cuts at the Nov. 27 meeting in Vienna.OPEC heavyweight Saudi Arabia has ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln