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Brent steady below $83 as oversupply neutralises shocks LONDON: Brent crude oil was steady below $83 a barrel on Thursday as apparent momentum towards a deal between Iran and world powers over its nuclear programme and higher U.S. inventories offset supply shocks in the Middle East.U.S. Secretary of State John Kerry said on Wednesday that a deal between Iran and six world powers would be harder to achieve after a Nov. 24 deadline, suggesting a degree of urgency ahead of planned talks in Oman next week."If sanctions on Iran are eased, one needs to review once again the supply and demand balance," said Olivier Jakob of Petromatrix, a Swiss energy consultancy.Jakob said a breakthrough could increase Iran's exports by up to 500,000 barrels a day in 2015, depending on the nature of any deal.Samuel Ciszuk, senior advisor on supply security at the Swedish Energy Agency, told the Reuters Global Oil Forum on Wednesday that he saw the odds ...

Statoil suspends Transocean, Songa rigs OSLO: Norway's Statoil suspended two drilling rigs on Thursday until the end of the year and may even extend the suspension due to overcapacity in its fleet, it said on Thursday. "The suspension is a result of overcapacity in Statoil's rig portfolio, and unsuccessful attempts to mature alternative assignments for the rig," Statoil's said. It has suspended work with Transocean's harsh environment ultra-deepwater Spitsbergen rig and with Songa's semi-submersible Trym vessel. Copyright Reuters, 2014 ...
North Sea Brent oil loadings to fall in December LONDON: The North Sea Brent crude oil production stream will load about 116,000 barrels per day (bpd) in December, down from the 140,000 bpd originally planned for November, a trade source said on Thursday. The December programme lists six cargoes of 600,000 barrels each, compared with seven for November. Copyright Reuters, 2014 ...
Danish ship fuel supplier OW Bunker says hit by fraud COPENHAGEN: Danish ship fuel supplier OW Bunker on Thursday said it had been hit by fraud committed by senior employees in its Singapore-based subsidiary, with potential losses of about $125 million."OW Bunker is currently in discussions with the syndicate banks. OW Bunker will inform the market further as soon as possible," the company said in a statement.Copyright Reuters, 2014 ...
Brent oil falls below $82 on weak Chinese and European data LONDON: Brent oil touched a new four-year low on Wednesday, briefly sinking below $82 a barrel after weak Chinese and European data, but U.S. crude rose on strong employment figures and a surprise fall in inventories.Services sector growth in China weakened in October as new business cooled, a private survey showed, coming just days after data revealed sluggish factory growth in the world's second-largest economy.Euro zone business growth picked up less than expected in October ...
Oil prices tumble further before US energy report LONDON: Oil prices sank further Wednesday, with Brent striking another four-year low on the back of the rebounding dollar, as traders awaited US energy stockpiles data.Brent North Sea crude for delivery in December dropped 32 cents to $82.50 a barrel in London midday deals. It had earlier hit a four-year low at $81.63.US benchmark West Texas Intermediate for December slid one cent to $77.18 a barrel compared with Tuesday's closing level."Crude oil prices extended losses... ...
UK gas prices decline after Naftogaz pays first gas debt tranche LONDON: British wholesale gas prices fell on Wednesday after Naftogaz's first debt repayment to Gazprom eased disruption concerns, overshadowing domestic undersupply.Gas for delivery on Thursday (day-ahead) was down 0.30 pence or 0.57 percent at 52.70 pence per therm at 0932 GMT.Further along the curve, December gas was down 0.48 pence at 53.90 pence per therm, and gas for the first quarter next year declined by 0.30 pence to 55.05 pence per therm.Before Russia and Ukraine ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln