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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. Copyright Reuters, 2014 ...

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. ...
Russia's Rosneft considers $66bn rouble bond offer: report MOSCOW: Russia's biggest oil company Rosneft is considering offering 2.4 trillion rubles ($66.2 billion) in ruble-denominated bonds to finance its colossal debt in possible response to the weakening ruble and the risk of sanctions over Russia's seizure of Crimea, a report said Tuesday.The Kommersant business daily said the state-controlled company was "discussing the possibility" of launching the unprecedented high-volume bond offering if the ruble comes under further market pressure, which would make it more expensive ...
Statoil gas output down due to Nyhamna outage OSLO: Norwegian oil and gas firm Statoil expects its gas output to be down 9 million cubic metres per day until midday local time on Wednesday, it said in a market message. The outage is related to a production stop at the Nyhamna natural gas processing plant on Norway's west coast, the firm added. Statoil earlier expected the outage to end on Monday.Copyright Reuters, 2014 ...
Rosneft mulls $66bn worth of rouble bond issues MOSCOW: Russia's top oil producer Rosneft is studying the possibility of issuing bonds worth 2.4 trillion roubles ($66.1 billion) to refinance its debts, Kommersant business daily reports on Tuesday, citing sources. The newspaper quoted sources familiar with the situation as saying Rosneft may be preparing itself against western sanctions over Moscow's involvement in Ukraine. A Rosneft spokeswoman declined to comment. The paper also reported that Rosneft planned to place 11 issues of bonds worth around ...
Nigeria oil diffs supported by Forcados outage LONDON: Nigerian crude oil differentials remained elevated on Monday by a problem with a key grade having its output curtailed due to a problem with a pipeline.Shell said on Friday it had suspended third-party exports of Nigeria's Forcados grade of crude oil due to a leak in the pipeline which it is repairing. It said there was no change in the situation on Monday.There were less than 10 cargoes available for purchase in April. Cargoes ...


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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 20, 2014
Reserves $13.436 bln