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UK gas prices for Friday fall on warmer weekend weather outlook LONDON: British natural gas and power prices largely fell on Thursday as rising temperatures reduced demand and the weak oil market weighed on contracts, although a tight system during the morning did push up prices for delivery within the day.Britain's gas demand was expected to be 212 million cubic metres (mcm) on Thursday, around 5 percent above the seasonal norm, according to National Grid. With flows seen only at 194.4 mcm, the system would be 17.6 mcm undersupplied.As a result, gas prices for delivery within the day gained 0.5 pence per therm from their last close to 51 pence at 0915 GMT.The undersupplied system was a result of lower gas flows from Norway as well as a storage outage at Britain's Hornsea facility as well as an ongoing outage at the Britannia gas processing facility.Despite the tight system, gas prices for delivery on Friday dropped, 0.4 pence to 50 pence ...

Oil bounces from 4-year low to $85 as dollar falls LONDON: Brent crude bounced off a four-year low on Wednesday to above $85 a barrel, a level that was still down 25 percent since June, as a drop in the value of the dollar attracted some cautious buying in the oil market.On Tuesday, the Brent benchmark lost almost $4, its biggest daily fall in more than three years, after the West's energy watchdog slashed its forecasts for world oil demand.Brent for November delivery was up ...
Oil prices reach new depths on oversupply LONDON: Oil prices reached new multi-year low points on Wednesday owing to a supply glut and weak global demand, analysts said.Brent struck $83.37 a barrel -- the lowest level for nearly four years -- and the WTI contract dropped to $80.37, a point last seen more than two years ago.In later deals, Brent North Sea crude for delivery in November stood at $84.06 a barrel, down 98 cents compared with Tuesday's close.US benchmark West Texas ...
Oil falls to $84, near 4-year low, on oversupply LONDON: Brent crude fell to a fresh 47-month low on Wednesday before recovering to just above $84 a barrel as faltering global growth curbed demand for fuel at a time of heavy oversupply.Oil saw its biggest daily fall in more than three years on Tuesday after the West's energy watchdog slashed its forecasts for world oil demand for this year and 2015.Core members of the Organization of the Petroleum Exporting Countries appear to be focused ...
OPEC unlikely to hold emergency meeting on oil drop-sources LONDON: OPEC is unlikely to call an emergency meeting as proposed by Venezuela, two OPEC sources said on Tuesday, a sign the exporter group is in no rush to discuss a collective response to the sharp drop in oil prices.Venezuela last week became the first member of the Organization of the Petroleum Exporting Countries to call for an emergency meeting to arrest the slide in oil prices, which have slid to below $88 a barrel, ...
Oil falls to post-2010 low after IEA cuts demand forecasts LONDON: Brent crude fell to a fresh low below $88 a barrel on Tuesday, trading at the weakest level since 2010 after the West's energy watchdog cut its estimates for oil demand this year and next.The global oil benchmark has dropped almost 25 percent from its 2014 high in June as supplies have risen and global demand has slowed, creating a glut in many markets.The International Energy Agency said on Tuesday world oil demand growth ...
Statoil says Tanzania LNG plant to start in 2021/22 at earliest OSLO: Norwegian energy firm Statoil expects its Tanzania gas liquefaction plan to start up in 2021 or 2022 at the earliest, the firm said on Tuesday. "If we experience no delays, our preliminary schedule indicates that it is not realistic to start up production before 2021-22, at the earliest," Statoil spokesman Knut Rostad told Reuters. "Our focus is now on reducing the technical and commercial uncertainties and aligning some key outstanding framework conditions together with ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln