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Oil prices rebound LONDON: Oil prices rebounded on Monday from earlier losses as traders eyed supply concerns and digested a weekend meeting of the world's 20 major economies.New York's main contract, West Texas Intermediate (WTI) for delivery in April, rallied $1.12 to $103.32 a barrel.Brent North Sea crude for April added 73 cents to $110.58 a barrel in London late afternoon deals."Oil prices are starting the new week of trading with slight gains," said Commerzbank analyst Carsten Fritsch."Supply risks such as the ongoing production outages in Libya, the fighting in South Sudan and the unrest in Venezuela, not to mention low stock levels of middle distillates on both sides of the Atlantic, are lending support to prices."Crude futures had meanwhile pulled lower in earlier deals on Monday amid milder weather in the United States.Markets also pored over the outcome of the Group of 20 meeting in Sydney on Sunday. Finance ministers and central ...

Gasoline barge price rises, cargo trade brisk LONDON: Gasoline barge prices rose on Monday, boosted by spot exports of the motor fuel to the United States, where refinery maintenance is in full swing and the switch to pricier summer blends is looming."The arbitrage window is open," said one trader."US maintenance is helping and as a fair percentage of naphtha makes it into the trans-Atlantic cargoes; a wider gasoline-naphtha spread normally helps open the arb."US refinery maintenance will peak in February and March, ...
India's Essar Energy rejects full takeover bid LONDON: Indian energy company Essar rejected on Monday a full takeover bid from its majority owner Essar Global Fund Limited, saying that the offer undervalued the group.On February 17, EGFL, which owns 78.02 percent of London-listed Essar Energy, had offered 70 pence a share for the stock it does not own.Philip Aiken, chairman of an independent committee of the Essar board, formed to consider the bid, said in a statement that "the current proposal from ...
EU carbon prices ended above LONDON: EU carbon prices ended above 7 euros for the third consecutive day on Friday as traders were reluctant to sell permits ahead of a procedural step towards regulators cutting supply. The ICE December 2014 carbon contract was up 16 cents at 7.24 euros, just off the day's peak of 7.25 euros, the highest it has traded since December 2012. The benchmark carbon contract posted a 7 percent weekly gain, marking the sixth consecutive weekly ...
North Sea Forties crude traded three-month low LONDON: North Sea Forties crude traded at a three-month low on Friday as refiners tried to offload unwanted barrels ahead of the maintenance season."It doesn't seem as if the refineries are running much," one trader said. "The sellers are all refining names." Total, ENI and Phillips 66 all offered cargoes in the Platts price assessment window.Traders said differentials could weaken further if demand remained so lacklustre. "We are slowly getting closer to trading maintenance barrels, ...
Oil markets retreat after upbeat week LONDON: Oil prices fell on Friday as signs of weakness in Chinese economy offset upbeat US energy demand that lifted crude futures to four-month highs earlier in the week.Brent North Sea crude for delivery in April slid 33 cents to $109.97 a barrel in London trade.New York's main contract West Texas Intermediate (WTI) for April lost 35 cents to $102.40 a barrel.Crude futures fell as poor Chinese manufacturing data heightened concerns about waning demand from ...
Shell sale of Italy retail operation reshapes pump network MILAN: Royal Dutch Shell has agreed to sell its Italian retail business to Kuwait Petroleum International (KPI) in a move that could shake up Italy's inefficient petrol distribution network. Italy has about 24,000 petrol stations dotted across the country, twice the number in France and almost three times the number in British. Successive Italian governments have called for a reduction in the number of petrol stations and the introduction of more self-service pumps to make ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln