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Oil rises to $57 as Iran talks drag on LONDON: Brent oil bounced back from a three-month low to around $57 a barrel on Wednesday after an industry report showed a larger-than-forecast drop in US crude stocks and Iran nuclear talks failed to produce a deal.Oil had come under downward pressure as a plunge in China's stock market accelerated and the Greek debt crisis raised concern about fuel demand. Talks in Vienna between Iran and six world powers dragged on beyond a self-imposed deadline as officials on both sides talked of important differences preventing a deal to lift sanctions and so allow more Iranian oil onto world markets. "Those market participants who have been betting on a rapid Iranian return to the oil market are now likely to square their positions, which should lend short-term support to prices," said Carsten Fritsch, senior oil analyst at Commerzbank. Brent crude was up 50 cents at $57.35 a barrel by 1010 GMT, ...

Indonesia's Bontang LNG plant sells at least 12 cargoes LONDON/MILAN: Indonesia's Bontang liquefied natural gas (LNG) export plant has sold at least 12 cargoes to buyers including BG, Shell and BP , traders said. The sale included six cargoes to BG, four cargoes to Shell and 2 cargoes to BP, the traders said. One trader said the cargoes were for shipment between September and November. Copyright Reuters, 2015 ...
Oil prices drop amid high US output LONDON: Oil prices fell on Friday with the focus on high US output as traders looked ahead to Greece's weekend referendum that could determine whether it remains in the eurozone.West Texas Intermediate for August delivery fell 35 cents to $56.58 a barrel compared with Thursday's close.Brent North Sea crude for August dropped 44 cents to stand at $61.63 a barrel in London afternoon deals.Traders are worried about a global supply glut and the first rise ...
Oil prices recover as Iran talks, Greek crisis drag on LONDON: Oil prices recovered Thursday as markets tracked the latest diplomacy surrounding Iran and Greece, awaiting more key US data.US benchmark West Texas Intermediate (WTI) for August delivery climbed 21 cents to $57.17 a barrel compared with Wednesday's close, ahead of jobs data due Thursday in main crude consumer the United States.Brent North Sea crude for August gained 57 cents to stand at $62.58 a barrel in London afternoon deals.World powers negotiating a deal with ...
Shell gives green light to develop giant Gulf of Mexico field LONDON: Royal Dutch Shell has given the green light for the development of the Appomattox deepwater oil and gas field in the Gulf of Mexico, set to be the energy giant's largest floating platform in the region.The Appomattox project, some 80 miles (130 km) off the coast of Louisiana, is expected to reach peak production of around 175,000 barrels of oil equivalent (boe) per day, Shell said in a statement on Wednesday. Shell holds a ...
Eni to sell 1.4mn tonnes/year of LNG to Indonesia's Pertamina MILAN: Italian oil firm Eni on Tuesday signed agreements to sell 1.4 million tonnes per annum (mtpa) of liquefied natural gas from an Indonesian deepwater project to state-run company Pertamina. Production will start in 2017 and come from the Jangkrik Field Development Project offshore Indonesia, a block in which Eni holds a 55 percent operating stake. Gas from the project will be piped to the country's Bontang LNG plant, where it will be liquefied. "It ...
Oil prices retreat on Greece LONDON: Oil prices dropped on Monday, tracking a sell-off in global equity markets and the euro caused by fears of a Greek debt default, analysts said.US benchmark West Texas Intermediate for August delivery slid $1.40 to $58.23 compared with Friday's close.Brent North Sea crude for August lost $1.71 to stand at $61.55 a barrel in London midday trade.Daniel Ang, investment analyst at Phillip Futures, said the weakening euro "could see crude prices continue to drop, ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln