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Oil prices dip on easing Ukraine tensions LONDON: Oil prices fell Thursday on easing concerns over potential supply disruptions after Russian President Vladimir Putin held out a hand to crisis-hit Ukraine, traders said. US benchmark, West Texas Intermediate for delivery in July, dropped 41 cents to $102.23 a barrel.Brent North Sea crude for July lost 39 cents to stand at $108.01 in London trading."Benchmark prices fell due to the easing of tensions between Ukraine and Russia," said Sanjeev Gupt at consultancy firm EY.Speaking to French media on Wednesday, Putin said he was ready to meet Ukraine's newly elected president Petro Poroshenko as well as Western European leaders at the sidelines of World War II ceremonies in Normandy, France. Group of Seven leaders, meeting without Putin as Russia was ejected from the G8 grouping in March, however urged Moscow to stop destablising Ukraine or face further sanctions.The West has accused Russia of fomenting unrest in neighbouring Ukraine since ...

Rosneft's Sechin says may speed up Arctic exploration with Exxon ASTRAKHAN: Rosneft, the world's top listed oil producer, and U.S. major ExxonMobil may start exploring Russia's Arctic ahead of schedule, despite Western sanctions over Ukraine, said Igor Sechin, head of the Russian company.An early start to the project would send a clear signal to the energy industry that Russia is still open for business from the West despite sanctions, which threaten to push an already weakened economy into recession.Sechin, a long-standing ally of President Vladimir ...
Statoil sticks to 2016 cost savings plan OSLO: Statoil is sticking to its 2016 cost-cutting plans and has no public cost-saving target for 2020, it said after Bloomberg reported the Norwegian oil major plans to cut costs to generate an extra $5 billion a year by 2020."This (report) is based on internal working documents," Statoil communications chief Jannik Lindbaek said on Thursday. "(The documents) cover some early scope and ambition ... and the efficiency programme work that we do."Lindbaek said the documents ...
Oil falls to 3-week low under $108 on hopes for Ukraine talks LONDON: Oil fell to a three-week low below $108 a barrel on Thursday as worries about risks to supply caused by violence in Ukraine eased on hopes that talks could resolve the situation. Ample supply in top oil consumer the United States has also dragged down prices, with Brent crude on its longest losing streak since the start of the year. Brent crude futures fell for a fifth session, their longest losing streak since early ...
Urals rebound in south despite still weak margins LONDON: Russian Urals firmed in the Mediterranean on Wednesday, reversing a decline which saw prices hit 15-month lows as very weak refining margins hit demand.Prices in northwest Europe were unchanged with no trades heard after levels sunk to two-year lows in the previous session.In the Platts window, Lukoil bid for an 80,000 tonne Urals cargo at dated Brent minus $2.30 cif Augusta loading June 24-28. The bid marks a 60 cent a barrel rebound to ...
Brent above $109, WTI rises $1 after US oil stock data LONDON: Brent crude rose above $109 a barrel on Wednesday and U.S. crude jumped by $1 a barrel following a sharper-than-expected drop in U.S. oil inventories.The U.S. Energy Information Administration (EIA) said U.S. crude stocks fell by 3.4 million barrels last week due to a large drop in imports, surpassing both forecasts for a 300,000 barrel draw and the drop reported by an industry group on Tuesday.Crude stocks at Cushing, Oklahoma, delivery point of the ...
Oil prices rise ahead of US supply report LONDON: Oil prices edged higher on Wednesday as investors awaited the latest US supply report for clues about demand in the world's biggest crude consumer. The US benchmark, West Texas Intermediate for delivery in July, gained 63 cents to $103.29 a barrel.Brent North Sea crude for July climbed 57 cents compared with Tuesday's closing level to stand at $109.29 a barrel in midday deals.The official weekly US stockpiles report Wednesday is expected to show inventories ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln