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Norway's oil rig workers reach wage deal, strike threat averted OSLO: Workers operating oil rigs off Norway reached a deal in wage talks with employers on Wednesday to avert a strike after similar negotiations with other oil sector workers broke down in recent weeks. Two unions representing workers who operate oil drilling rigs reached a deal with the Norwegian Shipowners' Association, representing their employers, the Safe and Industri Energi unions said. "We achieved results for some of our demands but had to compromise on other demands in this particular instance," Hilde-Marit Rysst, head of Safe, said in a statement. "We are pleased with the overall financial settlement," Leif Sande, head of the Industri Energi union, said separately. Two years ago, about 10 percent of Norway's offshore workers went on strike for 16 days, cutting oil output by 13 percent and gas production by 4 percent. The dispute ended when oil firms threatened a full lockout and the government stepped in ...

Urals slump in north, CPC Blend sinks to a discount LONDON: Russian medium sour Urals prices sank to a 14-month low on Wednesday in a move that surprised many traders, given a shorter June Urals programme.Plentiful alternatives, relatively poor margins and a slow clearing of May loading sour grades has weighed on the market.In the Platts window, Glencore sold a 100,000 tonne Urals cargo to Statoil at dated Brent minus $2.35 cif Rotterdam, loading June 9-13 from Baltic ports, the lowest since early March last ...
Oil around $110 on Ukraine, Libya supply worries LONDON: Brent crude oil steadied just below $110 a barrel on Tuesday on supply worries as the Ukraine government launched air strikes to try to put down a separatist revolt and Libya struggled to rein in rebels controlling several of the country's oil ports.Brent was down 50 cents at $109.82 a barrel by 1010 GMT, not far below last Thursday's intraday peak of $111.04, its highest for more than two and a half months.U.S. light ...
Coal prices drop on weak demand combined with healthy supplies LONDON: European physical coal prices dropped on Tuesday, continuing a trend that has seen healthy supplies clash with weak seasonal and structural demand this spring.Cargoes for delivery in June to Amsterdam, Rotterdam and Antwerp (AR) were trading at $71.85 a tonne on Tuesday afternoon, their lowest level since late February and down almost 20 percent since the beginning of the year, according to the GLOBALcoal trading platform.The dropping prices are a result of two bearish ...
Gazprom says gas flows to Europe via Ukraine remain stable MOSCOW: Russian natural gas exports to European consumer nations via Ukraine remained stable on Tuesday, a spokesman for state-controlled gas producer Gazprom said. Russia has warned that it will cut gas supplies to Ukraine next month unless Kiev pays in advance, raising the possibility of deliveries to Europe being affected.Copyright Reuters, 2014 ...
Brent slips to near $110 after Ukraine election LONDON: Brent crude eased to near $110 a barrel on Monday, down from last week's two-and-a-half month high, as worries over Ukraine eased slightly following a presidential election.Resistance levels for Brent and U.S. crude, or West Texas Intermediate (WTI), on technical charts were also keeping a lid on gains. Market activity was expected to be limited as the U.S. and UK markets were closed for holidays.July Brent crude was down 41 cents at $110.13 a ...
Brent falls below $110 after Ukraine election LONDON: Brent crude fell below $110 a barrel on Monday, down from last week's two-and-a-half month high, as worries over Ukraine eased slightly following a presidential election.Resistance levels for Brent and U.S. crude, or West Texas Intermediate (WTI), on technical charts were also keeping a lid on gains. Market activity was expected to be limited as the U.S. and UK markets were closed for holidays.July Brent crude was down 62 cents at $109.92 a barrel ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln