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UK gas spot prices rise on undersupplied system LONDON: Prompt natural gas prices in Britain rose on Tuesday morning as North Sea maintenance work left the system undersupplied although power prices dropped on the back of a warm weather outlook for the rest of the month.Natural gas prices for within-day delivery were trading at 49.80 pence per therm at 0845 GMT on Tuesday, up 0.55 pence since their last close, while prices for next-day delivery were up 0.30 pence to 49.50 pence per therm."Tight intra-day supplies are offering some support to day-ahead (gas prices)," one gas trader said.National Grid data showed that Britain's gas demand was expected to be around the seasonal norm of 175.5 million cubic metres (mcm), but that expected flows would be almost 15 mcm below that at 162.6 mcm."Despite today's undersupplied market, I'd expect the situation to ease as North Sea maintenance work at the Southern Area (gas field) facilities are ending today," another ...

Oil up above $97 as US launches air strikes in Syria LONDON: Brent crude rose above $97 a barrel on Tuesday as the United States and several Gulf Arab allies launched strikes against Islamic State strongholds in Syria, and as a surprise pick-up in China's factory activity boosted the demand outlook.Oil fell to a two-year low last week under the weight of a supply glut and tepid demand, but prices have stabilised as pockets of strength in the world economy have emerged and as tensions have ...
Russian gasoline exports up 10.2pc in August vs July MOSCOW: Russian gasoline and gas oil exports in August rose by 10.2 percent and 0.2 percent respectively, compared with July, while fuel oil exports were down by 3.4 percent, data from the Energy Ministry and Reuters calculations showed. According to the Energy Ministry data total production of gasoline rose 7.1 percent compared with the previous month.Russia's domestic supplies of gasoline and fuel oil increased by 6.8 percent and 11.0 percent respectively, while local shipments of ...
Russia's Gazprom says Western sanctions won't hurt YUZHNO-SAKHALINSK: Russia's Gazprom can substitute all imported equipment that is subject to Western sanctions against the company over Russia's role in Ukraine, and the sanctions would not succeed, Gazprom's depurty CEO told an industry conference. "In Gazprom we imported only 10 per cent of equipment and services, 90 per cent of our demand is covered by Russia's producers," Alexander Medvedev said at the conference on the eastern Russian island of Sakhalin. "No successful implementation of ...
Oil prices drop on strong dollar LONDON: Global oil prices fell Monday on the back of the strong dollar and plentiful supplies, on the eve of key manufacturing data from China, the world's top energy consumer.Brent North Sea crude for delivery in November slid 72 cents to stand at $97.67 a barrel in London deals. US benchmark West Texas Intermediate for October lost 43 cents to $91.98 a barrel."The strong dollar currently weighs heavily on market sentiment in the oil market," ...
Total to sell more assets, cuts oil output target LONDON: French oil company Total is to sell more assets and cut costs to generate more cash and is to revamp exploration plans after reducing its oil production target. Total, which has struggled with production outages in Libya, Kazakhstan and Nigeria, on Monday cut its 2017 output goal to 2.8 million barrels of oil equivalent per day from a previous 3 million. France's biggest company by market value and the West's fourth biggest oil and ...
UK gas prompt nudges higher on less Norwegian gas LONDON: Prompt natural gas prices in Britain rose on Monday morning as low imports from Norway left the system undersupplied.Prices for within-day delivery were trading at 49.60 pence per therm at 0836 GMT, up 0.20 pence since their last settlement. Prices for delivery on Tuesday were up 0.05 pence at 49.40 pence per therm.With supply flows at about 153.8 million cubic metres (mcm) per day on Monday and demand expected to be about 167.8 mcm, ...


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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
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WeeklyOctober 20, 2014
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