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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 barrels.Shell did not give a revised figure but a spokesman said the volume would not be a "key issue" in determining compensation.The compensation case is expected to be heard at the High Court in London next year.The two sides failed to agree a compensation deal in 2013.Leigh Day, the legal firm for the Bodo community, says the local environment was devastated by the two spills, depriving thousands of subsistence farmers and fishermen of their livelihoods."From ...

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 ...
UK gas prompt prices slip on mild November weather outlook LONDON: Prompt natural gas prices in Britain eased on Tuesday on expectations of weaker demand following forecasts for continued mild weather and above-average temperatures this month.Prices for within-day delivery were trading at 53.55 pence per therm at 1011 GMT, down 1.45 pence since their last settlement. Prices for delivery on Wednesday were down 0.70 pence at 53.50 pence per therm."An increase in the temperature forecast from the end of this week going forward has led ...
Brent crude oil falls more than $1 to 4-year low of $81.23 LONDON: Brent crude oil futures fell by more than $1 on Tuesday to a four-year low of $81.23, as a strong dollar and robust production from US shale oil fields weighed on prices.The US dollar hit a 7-year high against the yen and was up 0.2 percent on the day against a basket of currencies. Production from shale oil fields in the United States showed no signs of slowing despite falling prices, the Energy Information ...
Oil prices rally on Chinese data LONDON: World oil prices rose Monday, gaining strength from solid economic data in key consumer China, with extra support from the weaker US dollar, dealers said.Brent North Sea crude for delivery in December jumped $1.45 to trade at $84.84 a barrel around midday in London.US benchmark West Texas Intermediate for December rallied $1.06 to $79.71 a barrel compared with Friday's closing level."Brent ... futures rallied towards $85 per barrel, supported by solid Chinese economic data ...
Brent climbs above $84 on Libya disruptions, weaker dollar LONDON: Brent crude rose by $1 to above $84 a barrel on Monday, climbing for a second straight session as protests in Libya disrupted supply and the U.S. dollar fell away from four-year highs.Exports at the Hariga oil port in eastern Libya were halted on Saturday when state security guards began a sit-in protest over unpaid wages.The El Feel oil field in the south-west, also known as the Elephant field, was shut down on Sunday ...


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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