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UK gas prompt prices edge lower on robust supply LONDON: Prompt natural gas prices in Britain edged lower on Monday morning as robust supply led to a largely balanced system and as fears subsided of disruptions in Russian gas supplies to Europe.Gas prices for within-day delivery were trading at 37.45 pence ($0.64) per therm at 0903 GMT, down 0.65 pence on Friday's close. Prices for Tuesday delivery were down 0.25 pence at 37.50 pence per therm.With supply flows at about 169.5 million cubic metres (mcm) per day on Monday and demand expected to be about 171 mcm, the system was fairly well balanced, National Grid data showed.Day-ahead prices soared almost 5 percent just before the close on Thursday due to fears of a sharp deterioration of relations with major energy producer Russia after a Malaysian Airlines passenger jet crashed over eastern Ukraine.But traders said the risk premium relating to a potential disruption had subsided since Thursday.Europe obtains around a ...

Croatia launches oil, gas exploration tender ZAGREB: Croatia on Friday launched an international tender for oil and gas exploration in the east of the country that would hopefully bring investments to revive its sluggish economy.The tender follows the one launched by the European Union's newest member in April, for exploration and drilling for oil and gas reserves in the Adriatic, which raised concerns of environmental groups in the tourism-oriented country.A total of six exploratory areas in the Drava and Sava rivers ...
Shell abandons Qatar gas well LONDON: Royal Dutch Shell said on Friday that exploration of its majority-owned QSD-1 natural gas well in Qatar did not reveal commercial volumes.The oil and gas major said that it remains committed to future plans in the gas-rich Gulf producer. The well "reached total depth as planned; however, it did not encounter commercial volumes of hydrocarbons," Shell said in a statement. The QSD-1 project is 75 percent owned by Shell and 25 percent owned by ...
Oil pushes above $108 on downed airliner, Gaza LONDON: Brent crude oil climbed above $108 a barrel on Friday, extending sharp gains on heightened geopolitical risk after the downing of a Malaysian jetliner over eastern Ukraine and as Israeli ground troops advanced into Gaza. News of the crash of the Malaysian plane came a day after the United States imposed sanctions on Russia's biggest firms after what Washington sees as Moscow's failure to curb violence in Ukraine. Oil prices on both sides of ...
Oil market advances on US demand hopes LONDON: Global oil prices rebounded on Thursday as a bullish US stockpiles report raised hopes of resurgent demand in the world's top crude consumer, analysts said.Brent North Sea for delivery in September rose 37 cents to $107.54 a barrel in London early afternoon deals.New York's benchmark West Texas Intermediate for August gained 91 cents to $102.11 per barrel from Wednesday's closing level.WTI surged $1.25 in New York on Wednesday after the US Energy Information Administration ...
UK gas winter prices continue to bounce back from record lows LONDON: British natural gas prices for delivery next winter continued to rebound from recent record lows on Thursday morning as analysts pointed to an increase in demand at the end of the year.British gas for winter 2014 traded at 57.90 pence per therm at 0840 GMT, up 1.18 pence on Wednesday's settlement.The contract is now up almost 6 percent since hitting a record low of 54.70 pence per therm on July 11."The winter (contract) was ...
Oil market enjoys China-inspired gains LONDON: Global oil prices rebounded on Wednesday as traders seized on news of stronger-than-expected economic growth in top energy consumer China.Brent North Sea for delivery in August rose 33 cents to $106.35 a barrel in London early afternoon deals.New York's benchmark West Texas Intermediate for August gained 75 cents to $100.71 per barrel from Tuesday's closing level."Robust Chinese economic data offered some support to the oil market ... today, increasing hopes about a rebound of ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln