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Norway's Troll and Kvitebjoern outages extended OSLO: Outages at Norway's biggest offshore gas field Troll and the smaller Kvitebjoern field have been extended and will cut the country's production capacity by 104.7 and 22 million cubic metres (mcm) respectively on Thursday, gas system operator Gassco said on Wednesday. Both outages are now seen lasting for one to three days compared to an earlier estimate of one to two days, but the duration was uncertain, Gassco added on its website. Statoil shut Troll late on Tuesday after smoke was detected in an electrical switchboard, but quickly determined that there was no fire. Statoil said earlier on Wednesday it is preparing to start up gas production at Troll but has no estimate yet on when exports will start to flow. Copyright Reuters, 2015 ...

Norway's gas production hit by massive outages OSLO: Gas output from Norway, Western Europe's main natural gas supplier, will be hit by a massive outage at the country's biggest gas field Troll, the country's gas system operator Gassco said.The Troll's production capacity will be reduced by 117 million cubic metres (mcm) per day on Wednesday, and the outage could last for one to two days, Gassco said on its website. The outage impact is calculated for the gas day, which starts at ...
Premier Oil expects $300mn impairment charge due to weak prices LONDON: Oil and gas explorer Premier Oil said it expected to book a $300 million impairment charge on some of its assets for 2014 due to weak oil prices.The London-listed company also expects to spend around 40 percent less, or $600 million, on planned development this year, it said.Premier Oil added this figure was subject to change as it was negotiating rates with contractors.The oil producer also expects production to fall to 55,000 barrels of ...
Oil slides but bets on ECB action lift Europe shares LONDON: Oil prices slid on Tuesday to their lowest in almost six years, but European shares rose as investors focused on expectations that policymakers would soon take action to prevent the euro zone slipping into deflation.Strength in European shares and the prospect Wall Street would open higher saw the dollar reverse earlier losses against the safe-haven yen. Weaker-than-expected British inflation data pushed sterling towards an 18-month low against the U.S. currency.Brent crude fell as low ...
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 ...
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, ...


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln