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Argentina's YPF buys local Apache branch for $800mn BUENOS AIRES: Argentina's state-controlled energy company YPF announced Wednesday it has inked a deal to buy out the local operations of US oil and gas firm Apache for $800 million.YPF said the deal would allow the company to "position itself as the country's number-one natural gas operation," noting it is already Argentina's biggest oil producer.President Cristina Kirchner's government nationalized YPF in 2012 when it seized Spanish firm Repsol's majority stake in the company.Apache's operations are in Neuquen, Rio Negro and Tierra del Fuego provinces. The company had been in Argentina since 2001."Apache's employees in Argentina have done an outstanding job finding and developing new reserves and creating commercial opportunities in the region since we entered the country in 2001, and we are grateful for their many contributions," chairman and CEO G. Steven Farris said in a statement.He said the acquisition was "consistent" with its efforts to focus its portfolio on ...

Eni says Q4 adj operating profit down 29pc MILAN: Italian oil and gas group Eni said on Thursday its fourth-quarter adjusted operating profit fell by 29 percent to 3.52 billion euros ($4.78 billion), hit by lower production in Libya and Nigeria and a stronger euro against the dollar. Eni's net adjusted profit came in at 1.30 billion euros for the quarter, down 14 percent but above an analyst consensus of 1.024 billion euros. Eni, which already paid in September an interim dividend of ...
Oil market rises on optimism over Chinese demand LONDON: Oil prices advanced Wednesday on upbeat Chinese data and after new Federal Reserve head Janet Yellen vowed to maintain US monetary policy.New York's main contract, West Texas Intermediate (WTI) for March, jumped to $100.69 per barrel -- the highest level since late last year. It later stood at $100.59, up 65 cents from Tuesday's close.Brent North Sea crude for delivery in March added 38 cents to stand at $109.06 a barrel in early afternoon ...
Total sees 2013 net profit slide 20pc to 8.4bn euros PARIS: French oil giant Total said Wednesday its 2013 net profit dipped 20 percent to 8.4 billion euros ($11.45 billion), on the back of higher exploration charges and crumbling refinery margins in Europe.Revenues fell 5 percent to 189.5 billion euros, the group said. Production was stable for last year, instead of showing the increase Total forecast.Copyright AFP (Agence France-Presse), 2014 ...
Rosneft approves $273mn worth of oil shipments to BP MOSCOW: The board of Russia's top oil producer Rosneft has approved deals to supply BP with crude oil and fuel oil worth up to $273 million, Rosneft said in a regulatory filing. Rosneft has increased direct supplies of crude oil and oil products to BP after it bought BP's Russian venture TNK-BP for $55 billion last year, and the British major ended up with 19.75 percent ownership of the Russian leading oil producer. Rosneft said ...
Oil slips below $109 after touching five-week high LONDON: Brent crude eased back after hitting a five-week high above $109 a barrel on Monday as investors bet the US central bank would maintain stimulus measures to support demand in the world's biggest economy and top oil consumer. The new head of the Federal Reserve, Janet Yellen, delivers her first testimonies to Congress this week and markets expect her to indicate monetary policy will stay loose. Economists assume Yellen will say gradual tapering of ...
Oil prices fall before US jobs data LONDON: Oil prices slipped on Friday as investors awaited the release of US jobs data, with some support coming from higher demand for heating fuel in the United States, analysts said.New York's main contract, West Texas Intermediate (WTI) for delivery in March, shed 39 cents to $97.45 a barrel.Brent North Sea crude for March dipped seven cents to $107.12 a barrel.WTI at one point on Thursday hit a peak of $98.83, its highest level this ...

 



 
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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
WeeklyOctober 20, 2014
Reserves $13.436 bln