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UK gas prompt edges higher on less Norwegian supply LONDON: Prompt natural gas prices in Britain rose on Thursday as lower supplies from Norway led to an undersupplied system.Prices for within-day delivery were trading at 49.50 pence per therm at 0808 GMT, up 0.15 pence since their last settlement.With supply flows at about 158.2 million cubic metres (mcm) per day on Thursday and demand expected to be about 174.5 mcm, the system was 16.3 mcm undersupplied, National Grid data showed.Norwegian imports via Langeled were around 25 mcm/d on Thursday according to National Grid data, down from around 30 mcm on Wednesday.Langeled is Britain's main sub-sea gas import route with a total capacity of around 70 mcm/d.A maintenance round at a gas field off Norway due to start on Thursday will cut gas output by a greater amount, but for a shorter time, than earlier planned, North Sea infrastructure operator Gassco said late on Wednesday.The unnamed field will see its ...

Oil dips further below $97 on over supply and strong dollar LONDON: Brent crude oil dipped further below $97 a barrel on Thursday as abundant supply and a strong dollar outweighed concerns about threats to supply posed by fighting in the Middle East.The dollar hit a four-year high, dampening demand for commodities priced in the U.S. currency at a time when global economic growth is already lacklustre, particularly in the euro zone and China. The euro reached a 22-month low as speculation grew that the region ...
Rosneft may back out of Morgan Stanley oil unit deal LONDON: Rosneft, Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley 's oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations, three sources close to the state-controlled company said.The people said the chances of the deal going through range from "possible" to "highly unlikely." A spokesman for Rosneft said that "the work over the deal is still ongoing."The business in question trades actual barrels ...
Russia's Rosneft continues work on deal with Morgan Stanley MOSCOW: Russian oil company Rosneft is continuing work on a deal to buy Morgan Stanley's oil-trading unit, RIA news agency quoted an official at the state-run company as saying."Work on the deal is ongoing," the official, who was not identified by RIA, was quoted as saying. Three sources close to Rosneft have told Reuters that Rosneft could back out of the deal because Western sanctions make it virtually impossible to finance day-to-day operations.Copyright Reuters, 2014 ...
UK gas prices slightly lower on expectations of improved supply LONDON: Prompt natural gas prices in Britain eased slightly on Wednesday on expectations of improved supply as domestic flows resume after maintenance.Gas prices for day-ahead delivery were trading at 49.70 pence per therm at 0823 GMT, down 0.05 pence since their last close. Prices for within-day delivery were also down 0.05 pence at 48.75 pence per therm.Traders said they expected supply to improve as UK Continental Shelf flows start to resume after maintenance at some ...
Oil slips towards $96 on ample supply, slack demand LONDON: Oil fell towards $96 a barrel on Wednesday as rising supply from Africa and Iraq offset mounting tensions in the Middle East and better-than-expected data in China.Weak European economic data and a rise in oil exports from Iraq, Libya and Nigeria have hammered the oil price, which is down nearly 14 percent this quarter.Brent for November delivery fell 34 cents to $96.51 a barrel by 1048 GMT. It was down more than 6 percent ...
Gazprom says eyes condensate exports from Kirinskoye fields YUZHNO-SAKHALINSK: Russia's top gas producer Gazprom is considering gas condensate exports from its Sakhalin offshore group of Kirinskoye oil, gas and condensate fields, an official at the state-run firm said on Wednesday. "Of course we are eyeing options for monetization of (condensate) reserves," Viktor Timoshilov, who is overseeing Gazprom's Russian Far East gas development programs, told reporters. Gazprom believes the condensate reserves of two offshore deposits, Kirinskoye and the yet-to-be-launched Yuzhno-Kirinskoye, could exceed the currently ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln