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Oil prices recover as Iran talks, Greek crisis drag on LONDON: Oil prices recovered Thursday as markets tracked the latest diplomacy surrounding Iran and Greece, awaiting more key US data.US benchmark West Texas Intermediate (WTI) for August delivery climbed 21 cents to $57.17 a barrel compared with Wednesday's close, ahead of jobs data due Thursday in main crude consumer the United States.Brent North Sea crude for August gained 57 cents to stand at $62.58 a barrel in London afternoon deals.World powers negotiating a deal with major oil producer Iran to curb its nuclear ambitions were grappling for a breakthrough as last-ditch talks dragged into a sixth day Thursday.With the diplomatic drive playing out both in Vienna and Tehran, ministers held a flurry of meetings as the clock ticked down to a new July 7 deadline.Iran rejects allegations that it has been seeking to develop nuclear arms, and has resisted moves to give the International Atomic Energy Agency (IAEA) unbridled access ...

Shell gives green light to develop giant Gulf of Mexico field LONDON: Royal Dutch Shell has given the green light for the development of the Appomattox deepwater oil and gas field in the Gulf of Mexico, set to be the energy giant's largest floating platform in the region.The Appomattox project, some 80 miles (130 km) off the coast of Louisiana, is expected to reach peak production of around 175,000 barrels of oil equivalent (boe) per day, Shell said in a statement on Wednesday. Shell holds a ...
Eni to sell 1.4mn tonnes/year of LNG to Indonesia's Pertamina MILAN: Italian oil firm Eni on Tuesday signed agreements to sell 1.4 million tonnes per annum (mtpa) of liquefied natural gas from an Indonesian deepwater project to state-run company Pertamina. Production will start in 2017 and come from the Jangkrik Field Development Project offshore Indonesia, a block in which Eni holds a 55 percent operating stake. Gas from the project will be piped to the country's Bontang LNG plant, where it will be liquefied. "It ...
Oil prices retreat on Greece LONDON: Oil prices dropped on Monday, tracking a sell-off in global equity markets and the euro caused by fears of a Greek debt default, analysts said.US benchmark West Texas Intermediate for August delivery slid $1.40 to $58.23 compared with Friday's close.Brent North Sea crude for August lost $1.71 to stand at $61.55 a barrel in London midday trade.Daniel Ang, investment analyst at Phillip Futures, said the weakening euro "could see crude prices continue to drop, ...
Russia's Rosneft reports first quarter profit rise of 30pc MOSCOW: Russia's oil giant Rosneft said Friday its net profit rose by 30.2 percent in the first quarter from the same period last year to 56 billion rubles ($1 billion).The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles to exclude the exceptional profit from its sale of a stake in Yugragazpererabotka, a gas processing joint venture with Sibur.Sales were down 6.3 percent to 1,288 ...
Oil prices slip as Greece and Iran rattle market LONDON: Oil prices fell on Thursday as concerns over Greek debt negotiations and the potential easing of sanctions on crude-producing Iran overshadowed strong U.S. demand figures.North Sea Brent crude oil traded within a fairly narrow range as investors eyed a weak physical crude market in the Atlantic Basin amid reports of healthier demand for gasoline and diesel in the United States and Europe.But to-the-wire talks between Greece and its international creditors that have thus far ...
Oil prices mixed after falling LONDON: Oil prices were mixed Thursday after falls the previous day caused by high US output, while the market also tracked talks concerning Iran's nuclear programme.US benchmark West Texas Intermediate for August delivery fell 23 cents to $60.04 from Wednesday's close.Brent North Sea crude for August edged up three cents to stand at $63.52 a barrel in London midday deals.Prices had fallen Wednesday as the weekly US energy inventory report showed domestic output remaining at ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln