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UK gas prompt gas prices flat as supplies ramp up LONDON: Prompt natural gas prices in Britain were flat on Tuesday as an end to outages in Norway and Britain increased supply.Prices for within-day delivery were trading at 47.50 pence per therm at 0932 GMT, flat with their last settlement.With supply flows at about 299.1 million cubic metres (mcm) per day on Tuesday and demand expected to be about 287.8 mcm, the system was 11.3 mcm oversupplied, National Grid data showed.Gas supplies from Norway rose after gas system operator Gassco said production capacity at Norway's Kollsnes gas processing plant would be cut by 10 mcm on Tuesday, down from a previously expected 20 mcm cut.The facility is ramping up to normal production after the outage, caused by power failures on Saturday as winter storm Nina battered Norway's western coast.Norwegian exports to Britain via the Langeled pipeline were over 50 mcm/d on Tuesday morning, up from less than 30 mcm/d during ...

Oil prices down again as UAE defends holding production LONDON: Brent and U.S. WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia.Rather than cutting output to try to balance the market, ...
Mexico's CFE tenders to buy 13 cargoes LNG MILAN/LONDON: Mexico's state-owned utility CFE has tendered to buy 13 cargoes of liquefied natural gas (LNG) for shipment from February to November, two traders said. The tender was for one cargo per month from February through to November, with the exception of August where this rose to two cargoes and September when three cargoes were required, one of the traders said. In a statement, the CFE that the tender was for up to 13 cargoes, ...
Oil prices sink further and give boost to European shares LONDON: Oil prices showed no sign of escaping their downward spiral on Monday and signs emerged that cheap crude may have a positive impact on the European economy, with airlines and the auto industry leading the region's shares higher.The U.S. dollar edged higher as the majority of investors who expect a stronger greenback were given a chance to reload after a weakening in the aftermath of a surprise fall in U.S. wages on Friday.German airline ...
Oil extends fall; Goldman Sachs cuts forecasts LONDON: Oil renewed its decline on Monday, dropping below $49 a barrel as Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no signs of curbing output.Brent and U.S. crude are near their lowest since April 2009, having fallen for seven straight weeks on a growing supply glut.The February Brent contract was down $1.33 at $48.78 a barrel at 1220 GMT. U.S. crude oil for February was down $1.20 at $47.16 per barrel.Analysts ...
Oil prices extend falls; Goldman Sachs slashes forecasts LONDON: Oil prices renewed their declines on Monday, dropping below $49 a barrel as Goldman Sachs slashed its short-term forecasts and Gulf producers showed no signs of cutting production.Both Brent and U.S. crude are around their lowest since April 2009 and have fallen for seven straight weeks on a growing supply glut.The February Brent contract was down $1.29 at $48.82 a barrel at 0917 GMT. U.S. crude oil for February was down $1.12 at $47.24 ...
Gas tanker runs aground off Nigeria MILAN: A liquefied natural gas (LNG) tanker has run aground off Nigeria after taking on a cargo at the country's Bonny Island export plant, two trading sources said. The 165,000-cubic-metre-capacity Magellan Spirit tanker, owned by Teekay LNG Partners, ran aground trying to leave the port bound for South Korea, traders said. Teekay could not be reached for immediate comment. A trader said that the tanker is not expected to disrupt inbound or outbound tanker traffic ...

 



 
Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
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Arrow FTSE 6,946.66 0.04
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Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln