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UK gas and power prices rise as supply tightens LONDON: Wholesale natural gas and power prices rose in Britain on Thursday as reduced gas flows from Norway and the Netherlands and the extension of nuclear plant outages tightened supply.Gas for delivery on Friday was trading at 49.25 pence per therm by 0816 GMT, 1.25 pence or 2.6 percent higher than the previous settlement. Gas for immediate delivery was up 1.75 pence or 3.65 percent at 49.75 pence/therm.Britain's gas system was under-supplied by around 12 million cubic metres (mcm) on Thursday, National Grid data showed, as flows were forecast at 162.3 mcm and demand at 174.4 mcm.The shortfall was due to reduced physical gas flows from Norway and the Netherlands.Weekend temperatures in Britain are also forecast to be slightly cooler than now but still above the seasonal norm.In Britain's power market, prices also rose. Day-ahead baseload (24 hours) power prices were up 0.20 pounds at 43.40 pounds per megawatt hour.Five ...

Oil slips, buffeted by dollar moves, Ukraine situation LONDON: Oil slipped to around $102 a barrel on Thursday, partially reversing a sharp rise the previous day, with more volatility expected as traders await the European Central Bank meeting and developments on Ukraine. Oil futures on both sides of the Atlantic have seen sharp swings, buffeted by moves in the dollar and hopes that the peace talks in Ukraine may help the demand outlook in Europe. Brent crude for October delivery fell 80 cents ...
EDF says to re-start UK nuclear reactors by end-2014 LONDON: EDF Energy said on Thursday that four of its nuclear reactors, closed in northern England last month after the discovery of a crack, should resume operations by the end of the year.The group, the British unit of French giant EDF, had decided on August 11 to shut down two reactors at each of the Heysham and Hartlepool nuclear plants as a precaution after a "defect" at Heysham 1 Reactor 1 was found during regular ...
LNG tanker Mourad Didouche set to arrive in Britain around Sept. 8 LONDON: Liquefied natural gas tanker Mourad Didouche is set to arrive at Britain's Isle of Grain terminal around Sept. 8, shipping data showed on Thursday. The tanker has a capacity of around 126,200 cubic metres and its previous port was Arzew in Algeria. > ...
Statoil fails to find oil in highly anticipated Angola well OSLO: Norwegian oil and gas producer Statoil has drilled a dry well in Angola's pre-salt formations and failed to find commercially viable resources in a well in the Martin prospect in the US Gulf of Mexico, the company said on Thursday. Both wells will be abandoned, it added.The Angola Dilolo 1 well, drilled in Block 39 in the Kwanza Basin, was the first of eight attempts Statoil plans to make in order to strike oil ...
Urals weakens, Saudi cuts October prices LONDON: Russian Urals crude weakened in the Mediterranean and Baltic on Wednesday despite healthy margins, and the paper market showed a further weakening was expected on a likely rise in supply and uncertainty over regional demand. In the Platts window, Litasco offered a 80,000 tonne Aframax Urals cargo in the Mediterranean at dated Brent minus $1.15 a barrel, some 30 cents weaker than previous price estimates, but it saw no bids, traders said. In the ...
Gasoline cracks rise, exports still weak LONDON: Gasoline refining margins in northwest Europe rose on Wednesday above $12 a tonne, supported by gains in crude oil prices which offset relatively weak buying.Exports from the region remained scant, with around five cargoes booked so far this week out of Europe to go to Latin America, West Africa and the US East Coast, according to Reuters shipping data.The transatlantic arbitrage significantly dropped this summer compared to a year earlier, prompting several trading houses ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln