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Hungary MOL says selling its INA stake is an option BUDAPEST: Hungarian oil group MOL said on Friday it was prepared to sell its stake in Croatian peer INA, which is at the centre of a wrangle with the Croatian government. A meeting of Croatian and MOL officials earlier on Friday made little headway in talks in which Croatia aims to claw back influence in INA, one of its largest companies and biggest employers, after MOL bought nearly 50 percent of it. "The Company's Board of Directors authorized the Executive Board to conclude an agreement with the Croatian Government that can lead to value creation through the execution of INA's growth strategy," MOL said in a statement. "However, the Executive Board is also authorized to start the preparations for the sale of MOL's stake in INA in order to be able to maximize the value of its investment," it added. Copyright Reuters, 2013 ...

Oil rises to $106, lifted by Libya, gasoline stock drop LONDON: Brent oil rose to $106 a barrel on Wednesday, supported by an unexpectedly large fall in US gasoline stocks and worries about prolonged supply weakness from Libya as the peak northern hemisphere winter heating season looms. Brent crude gained 60 cents to $105.93 a barrel by 1543 GMT after touching the day's high of $106.41. US oil rose $1.38 to $94.75. Data from the Energy Information Administration (EIA) showed US ...
UK prompt gas falls on oversupply, shrugs off higher demand LONDON: British gas prices eased on Wednesday, with the market oversupplied and the system coping better than expected in the face of higher demand as colder weather spurred consumption.The day-ahead gas contract shed 0.80 pence to 66.50 pence per therm, while gas for immediate delivery edged 0.65 pence lower to 66.65 pence.The UK gas market was more than 15 million cubic metres per day (mcm/d) oversupplied as Britain's largest storage site at Rough flowed at ...
Oil rises to $106, lifted by Libya, product supply drop LONDON: Brent oil rose to $106 a barrel on Wednesday, supported by a fall in U.S. oil product inventories and worries about prolonged weakness in supply from Libya as the peak northern hemisphere winter heating season looms.Brent crude gained 74 cents to $106.07 a barrel by 1217 GMT, after settling 90 cents lower at a four-month low in the previous session. U.S. oil rose 70 cents to $94.07, after ending $1.25 down at its lowest ...
Poland Lotos says may be interested in shale gas in Lithuania VILNIUS: Polish energy company Lotos said it might be willing to explore for shale gas in Lithuania, provided the conditions on offer are improved, after Chevron pulled out as the sole bidder in a tender for a license. The Baltic Basin, which extends from northern Poland to southwestern Lithuania through Russia's Kaliningrad exclave is seen as one of the most promising regions for shale gas exploration in Europe. "Yes, if conditions ...
Euro Coal-Coal drops as oil weakens LONDON: Coal prices continued November's downward trend on Tuesday as cheaper oil weighed, but traders said that the market could receive support around current levels as the drops had pulled prices close to marginal costs for miners. Physical coal for destination into Europe's main import terminals at Amsterdam, Rotterdam and Antwerp (DES ARA) in December was offered at $83.50 a tonne on globalCOAL's trading platform on Tuesday afternoon, but traders said buyers would ...
Oil prices diverge amid US supply glut LONDON: Global oil prices diverged on Tuesday, with New York crude weighed down by a US stockpiles glut, while Brent gained slender support from Libyan supply disruptions, dealers said.New York's main contract West Texas Intermediate (WTI) for delivery in December fell 28 cents to $94.34 a barrel.Brent North Sea crude for December firmed nine cents to $106.32 a barrel in late morning deals, having struck a four-month low at $105.13 Monday on Libyan output concerns.Traders ...


Index Closing Chg%
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Foreign Debt $61.805bn
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WeeklyAugust 15, 2014
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