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Total makes small gas find in Norwegian North Sea OSLO: French energy firm Total made a small gas and condensate discovery in the Norwegian sector of the North Sea, near the Skirne field, the Norwegian Petroleum Directorate said on Friday. Preliminary calculations put the discovery between 2.5 million and 9.4 million barrels of recoverable oil equivalents, the NPD added. Total owns 40 percent of the licence, while Centrica , Det norske and Faroe Petroleum each hold 20 percent.Copyright Reuters, 2015 ...

Oil prices rebound from slump LONDON: Oil prices rebounded Thursday on bargain-hunting after a surge in US crude stockpiles and record output in Saudi Arabia sparked a sell-off in the previous session, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in May advanced $1.33 from Wednesday's close to $51.75 a barrel.Brent North Sea crude for May rallied $1.66 to stand at $57.20 nearing midday in London.Shailaja Nair, of energy information provider Platts, said Thursday's price rebound was "due to ...
Oil drops towards $57 after largest US stock build since 2001 LONDON: Oil prices fell towards $57 a barrel on Wednesday after the largest weekly build in U.S. crude inventories since 2001 and as Saudi Arabia reported record output in March.The U.S. Energy Information Administration (EIA) reported that U.S. stocks of crude oil rose in the week to April 3 by 10.9 million barrels - the largest weekly build since March 2001 - to a record 482.39 million barrels.A Reuters poll of analysts had forecast a ...
Oil falls on US stock build, record Saudi output LONDON: Oil prices fell towards $58 a barrel on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March.The decline in prices followed a rally on Tuesday, when U.S. crude approached 2015 highs following strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil."We're going to need to see a very big uptick in demand to ...
Oil prices fall before US data LONDON: Oil prices fell Wednesday on profit-taking after the previous day's sharp gains, while traders expected another rise in US crude inventories.US benchmark West Texas Intermediate (WTI) for delivery in May declined $1.13 to $52.85 a barrel.Brent North Sea crude for May dropped 69 cents to stand at $58.41 a barrel around midday.On Tuesday WTI rose $1.84 and Brent was up 98 cents on easing worries that Iranian crude will flood the market soon after ...
Oil falls as Iran, China discuss more supply LONDON: Brent crude oil fell below $58 a barrel on Tuesday on signs of growing oversupply as Iranian officials visited Beijing to seek more oil sales after a framework nuclear deal that could lead to the lifting of sanctions.China is Iran's largest trade partner and has bought roughly half of its crude exports since 2012, when sanctions against the Islamic Republic were tightened.Oil markets were also pressured by a Goldman Sachs report saying prices needed ...
Oil prices slip after Iran-fuelled rally LONDON: Oil prices fell Tuesday, with profit-taking in evidence a day after the market rallied on doubts over an agreement with Iran over the crude producer's nuclear programme, traders said. US benchmark West Texas Intermediate (WTI) for delivery in May dropped 64 cents to $51.50 a barrel compared with Monday's close. Brent North Sea crude for May lost 46 cents to $57.66 in midday trade.The contracts had surged by three dollars each on Monday."The current ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln