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Brent tops $61 as Iraq, Libya offset US stockpile jump LONDON: Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish US inventories data to focus on tensions in Iraq and Libya. A deteriorating security situation led Libya's state oil company to declare force majeure on 11 of its oilfields on Wednesday. In Iraq, Islamic State militants have set fire to oil wells in the Ajil field east of the city of Tikrit to try to hinder aerial attacks aimed at driving them from the oilfield, a witness and military source said. "I think this was one of the key triggers for the move higher (in prices). It seems to be that the market does seem to be paying a little bit of attention to geopolitical factors, namely Iraq and Libya," said Virendra Chauhan, oil analyst at Energy Aspects. Output from Libya was at more than 400,000 barrels per day on March 1, higher ...

Rosneft says no plans to halt oil products output at Achinsk oil refinery MOSCOW: Russia's top oil producer Rosneft said on Thursday it had no plans to halt oil products output and sales to consumers from its Siberian Achinsk oil refinery, after Energy Ministry data showed an outage at the plant. According to the data, Rosneft stopped five secondary units, which produce gasoline and diesel, at the refinery starting from March 1 for up to six days. Copyright Reuters, 2015 ...
Oil prices higher LONDON: Oil prices climbed Thursday as Libyan unrest offset a jump in US crude stockpiles, analysts said.US benchmark West Texas Intermediate for delivery in April added 59 cents to $52.12 a barrel.Brent North Sea crude for April also gained 59 cents to $61.14 a barrel approaching midday in London.The US Department of Energy (DoE) on Wednesday said commercial crude inventories jumped by 10.3 million barrels in the week February 27, higher than analyst forecasts.Inventories have ...
Brent above $61 as Iran news offsets US stockpiles LONDON: Brent crude future prices rose above $61 a barrel on Thursday, as investors brushed aside bearish US inventories data to focus on the lack of a deal in talks over Iran's nuclear programme.Tehran's ambassador to the International Atomic Energy Agency (IAEA) said on Wednesday no deal had been reached on the duration of any possible final agreement with world powers on Iran's programme. That allayed investors' fears of an imminent rise in Iranian oil ...
Oil prices fall on surprise jump in US crude stocks LONDON: Oil prices fell Wednesday as US official data showed that the country's crude stockpiles rose stronger than expected last week.US benchmark West Texas Intermediate for delivery in April fell 34 cents to $50.18 a barrel.Brent North Sea crude for April slipped 63 cents to stand at $60.39 a barrel in late London deals.The US Department of Energy said commercial crude inventories jumped by 10.3 million barrels last week. Analysts surveyed by Bloomberg News had ...
Brent below $60 on US crude build, Saudi sees recovery LONDON: Brent crude oil extended losses to fall below $60 a barrel on Wednesday after a much larger-than-expected build in US crude stocks, while Saudi Arabia's oil minister said he expected the market to balance itself and prices to recover. The US Energy Information Administration said US crude stocks jumped by 10.3 million barrels last week, more than double the amount predicted by analysts and the eighth weekly rise in succession. US crude inventories are ...
Russia's Rosneft says 2014 net profit falls 10pc MOSCOW: Rosneft, Russia's top oil producer, said on Wednesday that its 2014 net profit was 350 billion roubles ($5.7 billion), down 10 percent year-on-year, due to unfavourable economic conditions. Rosneft said its 2014 revenues were 5.5 trillion roubles, up 17 percent, while earnings before interest, taxes, depreciation and amortization (EBITDA) were 1.06 trillion roubles, up 11.6 percent from 2013, the company said. In its presentation, Rosneft said its oil production was at 205 million tonnes ...

 



 
Index Closing Chg%
Arrow DJIA 17,856.78 1.54
Arrow Nasdaq 4,927.37 1.11
Arrow S&P 2,071.26 1.42
Arrow FTSE 6,911.80 0.71
Arrow DAX 11,550.97 0.41
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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%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln