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UK gas prices ease as supply surpasses demand in mild weather LONDON: Wholesale natural gas prices in Britain fell on Thursday as gas flows were more than enough to meet demand with temperatures remaining above seasonal trends.UK gas for delivery on Friday was 0.45 pence lower at 54.25 pence per therm at 0944 GMT, while gas for immediate delivery was 1.25 pence lower at 53.25 pence per therm.Flows were expected to be around 226 million cubic metres (mcm) on Thursday, and demand was around 217 mcm, leaving the system around 9 mcm oversupplied, National Grid data showed."The UK system opened long this morning, which could be bearish also for the DA (day ahead) contract as we forecast a continued need for storage injections also for DA," Thomson Reuters Point Carbon analyst Anette Einarsen said.UK Continental Shelf flows have been reduced by ongoing outages at St Fergus gas terminal and North Morecambe gas sub-terminal.Flows from Norway via the Langeled pipeline, however, were ...

Oil below $80 hits rouble, naira; politics weighs on Ukraine LONDON: A renewed downward lurch in oil prices put emerging market commodity currencies under more pressure on Thursday, with Russia's rouble facing additional headwinds from a flare-up in tensions with Ukraine.As Brent crude dropped through $80 and Ukraine deployed troops amid fears of a new separatist offensive in the country's east, the rouble sank more than 1.5 percent against the dollar."There is a risk of oil prices dropping further and the geopolitical risk is making ...
Oil falls to four-year low below $80, awaits OPEC LONDON: Brent crude oil fell to a four-year low below $80 a barrel on Thursday after Chinese data showed a further slowdown in activity in the world's biggest energy consumer and Saudi Arabia remained silent about a possible cut in production.China's economy lost momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, reinforcing expectations of a slower increase in fuel demand from emerging nations.Developing economies had been a major ...
Russia's Rosneft considers selling Saratov refinery MOSCOW: Rosneft, Russia's top oil producer, is considering selling its Saratov refinery, Kommersant daily newspaper reported on Thursday.The Saratov plant, which has a refining capacity of 6.8 million tonnes of oil a year, became part of Rosneft last year, after the company bought its peer TNK-BP for $55 billion.It is one of a total 13 refineries owned by Rosneft in Russia. Quoting sources, Kommersant said Rosneft was valuing the plant at around $400-$500 million and ...
Shell says 2008 Nigeria spills bigger than thought LONDON: Royal Dutch Shell said Thursday that two 2008 oil spills in Nigeria were larger than earlier thought, ahead of a compensation court case in England's High Court.The Anglo-Dutch energy giant's Nigerian arm said in a statement that the spills had been greater than the previously-reached total figure of 4,144 barrels.Lawyers bringing a compensation bid for 15,000 members of Nigeria's Bodo community have in the past claimed the spills could be as large as 600,000 ...
Oil falls further on dim prospect of OPEC output cut LONDON: Crude prices fell further Tuesday on dimming prospects of a production cut by the OPEC oil cartel despite a global supply glut, analysts said. Brent North Sea crude hit a four-year low at $81.23 a barrel. The contract for delivery in December later recovered to $81.88 in London midday deals, though still down 46 cents compared with Monday's close.US benchmark West Texas Intermediate (WTI) for December lost 23 cents to $77.17 a barrel.WTI had ...
Brent oil falls to $82 after hitting four-year low LONDON: Brent crude traded close to $82 per barrel on Tuesday after hitting a four-year low, as a firm dollar and robust production from U.S. shale oilfields outweighed a drop in Libyan output.Brent for December fell $1.11 to $81.23 per barrel, its lowest since October 2010, and was around $82 by 1045 GMT. U.S. crude was down 20 cents at $77.20 per barrel.The U.S. dollar hit a seven-year high against the yen and was up ...


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Banking Review 2013

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