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Oil falls below $109 as Syria deal eases supply concerns LONDON: Global oil prices fell to a five-week low below $109 a barrel on Monday after the United States agreed to call off military action against Syria, easing supply concerns.Benchmark front-month Brent futures touched a six-month high of $117.34 a barrel in late August amid worries that a possible US military strike against Syria would disrupt Middle East oil supplies already hit by outages in Libya and Iraq.But prices began to drop after Russia offered to help put Syria's chemical weapons under international control.On Saturday, US Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov agreed to back a nine-month UN programme to destroy Syrian President Bashar al-Assad's chemical arsenal.Brent crude for delivery in November dropped by $2.71 to trade around $108.99 at 0907 GMT, after hitting $108.73, its weakest level since Aug. 12.The October contract expired on Friday, settling at $112.78.US oil for October delivery was trading ...

Rosneft says plans energy projects in Belarus: reports MOSCOW: Igor Sechin, the head of oil giant Rosneft, says it is planning energy projects in Belarus, Russian media reported on Saturday, a sign the close Kremlin ally will not let a potash dispute undermine the Russian state firm's business in Belarus.The collapse of a potash trading agreement in July triggered a diplomatic spat between Russia and its ex-Soviet ally, including Belarus's arrest of the head of Russian fertiliser firm Uralkali.The arrest put a new ...
Hungary MOL won't give up management control at INA BUDAPEST: Hungarian oil and gas group MOL won't give up management control of Croatian utility INA, a senior MOL official told Reuters, ahead of talks with the Croatian government which wants a bigger say in INA.Gyorgy Mosonyi, chairman of MOL's supervisory board, said on Friday some changes to the existing shareholder agreement with Croatia could be considered, such as over veto rights, and he was optimistic a deal could be reached that could set out ...
Oil slips below $112 as Middle East war fears ease LONDON: Brent crude oil fell below $112 a barrel on Friday after the US and Russian foreign ministers agreed to push for a conference to end Syria's civil war as talks on removing chemical weapons raised hopes for broader negotiations.Expectations of an imminent US attack on Syria helped push Brent above $117 at the end of August as investors worried the conflict would affect the huge oil exporters of the Gulf, which pump around a ...
IEA sees oil market improving, but emerging markets face rough ride PARIS: An increase in output should help cushion oil markets seized by tension over a possible conflict in the Middle East, the IEA said on Thursday, with emerging market nations facing difficulties due to their falling currencies.The slow pace of the global economy led the International Energy Agency to keep its forecast for oil demand growth for this year unchanged, while rising it slightly in 2014.However a dip in supply by 770,000 barrels per day ...
Urals edge lower on weak demand LONDON: Spot differentials on Russia's medium sour Urals weakened on Wednesday on the back of weak margins and refinery maintenance.But traders said the market was slow due to a lack of direction to what degree seasonal European refinery maintenance would compensate for sour crude supply uncertainties.Iraqi oil exports from the Basra Oil Terminal are being watched for disruptions due to a port upgrade while the Kirkuk-Ceyhan pipeline has constantly had problems.One trader pointed out that ...
UK spot gas prices rise as Norwegian supply rerouted to Germany LONDON: British prompt gas prices rose on Tuesday morning as Norway rerouted supplies away from Britain towards Germany, leaving the UK system undersupplied.Gas prices for delivery within the day were at 66.15 pence per therm by 0815 GMT, 0.65 pence above Monday's close, and prices for delivery the next day rose 0.3 pence to 66.25 pence a therm.Flows through the Langeled pipeline, the UK's main subsea gas import route, fell by 20 million cubic metres ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln