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IEA forecasts global coal demand slowing LONDON: Global coal demand growth will slow over the coming five years, as growth in Turkey, Korea and Japan will not be enough to offset falls in Europe and the United States, the International Energy Agency (IEA) said on Monday. The IEA forecasts annual global coal demand growth at 2.1 percent through to 2019, down from a 2010-2013 annual growth rate of 3.3 percent.The outlook for China, the world's largest coal consumer and importer, was uncertain due to a policy shift towards diversifying the country's energy supply, the IEA said in its medium-term coal market report."The world's biggest coal user, producer and importer has embarked on a campaign to diversify its energy supply and reduce its energy intensity, and the resulting increase in gas, nuclear and renewables will be staggering," the IEA said. Chinese coal consumption was not expected to peak during the outlook period, the IEA said, forecasting annual ...

Statoil restarts Snoehvit LNG plant after OSLO: Norwegian energy firm Statoil has resumed normal production at its Snoehvit liquefied natural gas plant in Hammerfest in the Norwegian Arctic after a week-long outage, it said on Monday. Statoil said last Monday that it shut the plant for an indefinite period due to a gas leak..Copyright Reuters, 2014 ...
LNG tanker British Merchant due to arrive in UK on Dec 22 LONDON: The liquefied natural gas (LNG) tanker British Merchant is due to arrive at Britain's Isle of Grain import terminal in Kent on Dec. 22, shipping data from Reuters showed. The 135,500 cubic metre capacity ship is coming from Trinidad and Tobago. Copyright Reuters, 2014 ...
Norway's gas output down 15 mcm on Monday due to Kollsnes failure OSLO: Norway's Kollsnes gas processing plant, the country's biggest, suffered a production outage early on Monday due to bad weather, and its output will be down by 15 million cubic metres on Monday, gas system operator Gassco said in a market message. The outage, due to a failure in its external power supply, is expected to last 10 to 14 hours and the plant started to ramp up shortly after the outage, Gassco said. Norway ...
Prices firm, supported by cooler weekend weather LONDON: Prompt natural gas prices in Britain were firm on Friday as expectations that cooler weather this weekend will drive up energy demand were only slightly tempered by an oversupplied system. Prices for next-day delivery edged up 0.15 pence to 54.60 pence per therm at 0950 GMT. The UK gas system was 4 million cubic metres oversupplied, with flows forecast at 308 mcm/day and demand at 304 mcm, according to National Grid data. Demand was ...
Oil sinks below $63 to over 5-year low on supply glut, weak demand LONDON: Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook. Brent is down around 9 percent this week, some 45 percent below its June peak above $115 per barrel. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in 2015 and predicted that ...
Oil resumes decline, falling toward $64, oversupply weighs LONDON: Oil resumed its downward move on Thursday, falling towards $64 a barrel and within sight of a five-year low, pressured by signs that already ample supply will be even more plentiful in 2015.Crude prices sank on Wednesday as OPEC forecast an increasing supply surplus in 2015, U.S. crude inventories unexpectedly rose and OPEC's most influential voice, Saudi Arabia's oil minister, shrugged off the need for an output cut.North Sea Brent crude gave up an ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln