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Egypt issues first tender in a year to buy crude oil LONDON: Egypt's state-owned oil company is seeking around 500,000 barrels of crude oil in its first tender in a year, traders said on Wednesday. The crude is for the 100,000-barrel-per-day Midor refinery at Alexandria. The tender specified it was seeking Iraqi Basra Light crude oil for March delivery. It closes on Feb 25.Copyright Reuters, 2014 ...

Supply risks keep Brent above $110, US crude up on cold LONDON: Brent oil held above $110 a barrel on Wednesday, underpinned by geopolitical concerns in Africa and Venezuela while a fresh bout of freezing weather kept US crude near a four-month high. An unusually cold winter in North America has sapped heating oil supplies in the United States and buoyed prices. Weekly data due on Thursday should show a 1.8 million barrels drop in distillates stocks, according to a Reuters poll. US crude touched an ...
Hedge funds increase Brent oil bets LONDON: Hedge funds and other large investors raised their bets on higher Brent crude oil prices in the week to February 11, data from the InterContinental Exchange (ICE) showed on Monday, rebounding after dropping to the lowest level in over a year. The money manager group increased its net long positions by 24,947 contracts to 109,223 in the week to February 11. The previous week's net longs had dropped to the lowest level since November ...
Shell to sell three assets in British North Sea LONDON: Royal Dutch Shell plans to put three oil and gas assets in the North Sea up for sale, as it seeks to ramp up disposals and focus on improving shareholder returns after a shock profit-warning. Like its industry peers, Shell has been facing increasing investor pressure to rein in spending as costs rise and prospects for oil prices wane. Glen Cayley, the Anglo-Dutch company's vice-president of its upstream business in Europe, has spoken to ...
Brent eases towards $108; supply disruptions support LONDON: Brent crude eased towards $108 a barrel on Friday as downbeat US economic data outweighed supply disruptions in Libya and Angola. An unexpected drop in US retail sales in January and a spike in weekly jobless claims have raised doubts over growth in the world's biggest economy and undermined expectations of higher global oil demand growth this year. Brent crude was down 20 cents at $108.32 a barrel at 1250 GMT. US crude traded ...
Oil markets tight, IEA warns PARIS: World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging OPEC to skip a seasonal output drop as stocks touch six-year lows.Analyst have warned of an oil glut and drop in prices for months.But the International Energy Agency said a pick up in demand in advanced countries, led by the United States, has more than compensated for a slowing of emerging market demand.The IEA, energy ...
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 ...

 



 
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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 23, 2014
Reserves $13.465 bln