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Oil prices dips as Iran nuclear deadline approaches LONDON: Oil fell Tuesday as dealers tracked last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. Brent North Sea crude for delivery in May slid $1.23 to $55.06 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May shed $1.11 to $47.57 a barrel."Today marks the deadline by which a solution is supposed to be found in the nuclear talks with Iran," said Commerzbank analyst Carsten Fritsch."The considerable efforts undertaken in recent weeks, plus the fact that the foreign ministers of those nations taking part in the negotiations have travelled to Lausanne, make it unlikely that the talks will fail completely."Marathon talks aimed at preventing Iran from acquiring nuclear weapons went into a final nail-biting day Tuesday, with Russia saying the chances were "high" of reaching a historic framework deal by midnight.Russian Foreign ...

UK gas prompt prices rise as outage tightens nearby supply LONDON: Prompt natural gas prices in Britain were higher on Tuesday, as an outage at Centrica's North Morecambe Barrow terminal cut Continental Shelf gas flows, tightening an undersupplied system.Gas prices for within-day delivery were up 1.8 percent at 48.20 pence per therm at 0955 GMT.Gas flows at Britain's North Morecambe gas terminal were cut to zero in an unplanned outage on Monday, operator Centrica said.National Grid data showed the system was expected to be around ...
Oil drops to $55 as Iran nuclear talks intensify LONDON: Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets.With a self-imposed deadline set for the end of the day, the United States, Britain, France, Germany, Russia and China ramped up the pace of negotiations with Iran in Switzerland over an outline deal on Tehran's nuclear ...
Gazprom proposes extending Ukraine gas deal for three months MOSCOW: Russian gas giant Gazprom on Monday offered to extend a supply deal with Ukraine for another three months ahead of a looming deadline that had raised fears for deliveries to Europe. Ukraine's gas operator Naftogaz said earlier that it had asked Gazprom to prolong an agreement -- inked after a cut-off last year that followed a collapse in relations between the ex-Soviet neighbours -- to spring 2016. A pact covering the crucial winter months ...
Oil prices drop on prospect of Iran nuclear deal LONDON: Global oil prices sank Monday as traders mulled a potential deal over key oil producer Iran's controversial nuclear energy programme that could worsen the global supply glut, analysts said.Foreign ministers of Iran and major world powers meeting in the Swiss city of Lausanne raced to beat a midnight Tuesday deadline to nail down a framework deal they hope will put an atomic bomb out of Tehran's reach.In late afternoon London deals on Monday, Brent ...
Oil eases as big powers negotiate with Iran LONDON: Oil prices slipped on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring an end to sanctions and allow an increase in Iranian oil exports.The two sides have until the end of Tuesday to come up with an agreement at talks in Lausanne, Switzerland.Officials close to the talks have said progress has been made and many investors believe a deal is in the ...
Oil prices drop as oversupply fears outweigh Yemen LONDON: Oil sank Monday as an oversupplied market offset concerns over unrest in the crude-rich Middle East, where Saudi-led warplanes have struck rebel targets in Yemen. Brent North Sea crude for delivery in May slid $1.04 to $55.39 a barrel in London afternoon deals.US benchmark West Texas Intermediate (WTI) for May shed $1.10 to $47.77 a barrel."Crude oil prices remain under pressure," said Myrto Sokou, senior energy analyst at the Sucden Financial brokerage in London."The ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln