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Brent oil rises near $107 as US expands Russia sanctions LONDON: Brent crude rose towards $107 per barrel on Friday as fresh US sanctions against Russia, the world's second-largest oil exporter, increased fears of a disruption to supplies. Brent remained on track for a fourth weekly loss, however, with a seasonal slump in demand leading to a near 5 percent slide since the beginning of March, when prices briefly jumped to a three-month high above $112 as Russia took control of Ukraine's Crimea region. Washington expanded sanctions to 20 more prominent Russians and allies of Russian President Vladimir Putin on Thursday, including Gennady Timchenko, co-founder of oil trading firm Gunvor.Within hours Gunvor announced Timchenko had sold his near 50 percent stake in the company to allow the firm, which ships almost 3 percent of global oil supplies, to avoid disruptions to its operations. "The uncertainty is definitely back," Abhishek Deshpande, commodities analyst at Natixis in London said. "The US has ...

Oil slips on easing Ukraine tensions, strong dollar LONDON: Global oil prices dipped Thursday, hit by easing geopolitical tensions over Ukraine, and also by the strong dollar after the US Federal Reserve hinted at hiking interest rates soon.Brent North Sea crude for May sank to $105.60 in early morning trade, touching the lowest level since February.It later stood at $105.73, down 12 cents from Wednesday's closing level.New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, dipped 29 cents to ...
EU carbon rebounds 4.5pc after 7 days of losses LONDON: European carbon prices rose 4.5 percent on Wednesday, ending seven consecutive days of losses and rebounding as traders snapped up lower-priced permits. By 1605 GMT, the ICE December 2014 EU Allowance (EUA) traded at 6.09 euros per tonne, up 26 cents on Tuesday's settlement after moving in a 35 cent range from 5.79 to 6.14 euros. "Some people who had been long were cleaned out after the last few days and saw these levels ...
Russia's Rosneft says no plans to cut activity in Ukraine MOSCOW: Russia's top crude producer Rosneft has no plans to cut its activity in Ukraine, the company said on Wednesday. It said in a statement its Lisichansk oil refinery was undergoing scheduled maintenance and would be back in action only after an examination of its economic viability. "Rosneft has not rolled back and has no plans to make changes to the scale of its operations in Ukraine," the company said. Copyright Reuters, 2014 ...
Statoil makes small gas discovery in North Sea OSLO: Oil firm Statoil has made a small gas discovery, containing between 0.5 and 2 million standard cubic metres of recoverable gas, near the Visund field in the Norwegian part of the North Sea, the Norwegian Oil Directorate said on Wednesday. Statoil has a 59-percent take in the production license, called PL 120.The other partners are US major ConocoPhillips with 13 percent, France's Total with 11 percent and Norwegian state-owned firm Petoro with 17 percent. ...
Euro coal prices ease after upward run LONDON: European physical coal prices for delivery in April fell slightly on Tuesday, levelling off a three-week long trend of price gains.Cargoes for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) traded at $76.25 a tonne, down $0.05 from the previous settlement.ARA cargoes for delivery in July traded at $77.50 a tonne, according to price data on the globalCOAL platform.Sources said the losses were a corrective move in reaction to the ...
Diesel gains as strong euro tempts buyers LONDON: Diesel barge differentials in northwest Europe rose on Tuesday as buyers sought to benefit from weak outright prices and a strong euro to replenish stocks.The front-month gasoil futures continued to trade at a discount to the May contango which leads traders to store product rather than sell, further boosting prices."Germans have been buying quite a lot. The flat price and the euro-dollar are pretty good," a trader said.A stronger euro makes dollar-priced commodities cheaper. ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln