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Urals stronger in Med; Baltic seen tight in early Sept LONDON: Russian Urals crude prices in the Mediterranean strengthened slightly on Tuesday as traders said the final loading plan for September looked lower than expected in the south and tight for the first part of September in the Baltic.In the Platts window, Litasco bid for a 80,000-tonne Aframax tanker in the Mediterranean at dated Brent minus $1.05 a barrel, some 5 cents stronger than previous price estimates, but found no sellers, traders said. Russia is set to boost its seaborne Urals crude blend exports by 15 percent in September from August, a preliminary programme showed on Tuesday, as refineries embark on scheduled maintenance. Supplies of Urals from the Baltic Sea port of Primorsk are set at 3.5 million tonnes next month, compared to 3.3 million tonnes scheduled for August. Traders said exports from Primorsk will be thin in the first half of September, when 1.4 million tonnes will be shipped ...

EU carbon prices slip on weak auction demand LONDON: European Union carbon prices dipped on Tuesday in a thinly traded market, weighed down by weak demand in an auction of carbon permits.Front-year EU Allowance (EUA) futures closed at 6.33 euros ($8.35), down 2 cents on Monday's settlement. "There isn't much interest from utilities over the summer months and you can see from the auction result there is a lack of demand for permits at the moment," a carbon trader said.The European Union sold ...
Brent rises above $103 after US consumer data LONDON: Brent crude rose over $103 a barrel on Tuesday as bullish U.S. consumer data overshadowed the effect of persistent supply pressure and weak economic data in most countries that are major users.The benchmark is headed for a second straight monthly decline in August as slow growth in China and Europe has curbed oil demand and led to a supply glut in the Atlantic Basin, offsetting the impact on prices from world political tensions.Brent crude ...
Oil prices climb on tensions LONDON: Oil rose on Tuesday on geopolitical tensions in crude producers Iraq and Libya as well as Ukraine, a key conduit for Russian gas exports to Europe, dealers said.However, market gains were capped by ongoing jitters over abundant crude supplies and weak demand amid poor global economic data.Brent North Sea crude for October added 19 cents to stand at $102.84 per barrel in midday London deals.US benchmark West Texas Intermediate for October delivery gained 25 ...
UK gas prices up as cool weather, low Norway flows leave system short LONDON: British wholesale natural gas and power prices rose on Tuesday morning as relatively cold weather and low imports from Norway left the system undersupplied.Gas prices for delivery within Tuesday as well as for use on Wednesday were both trading at 43.50 pence per therm at 0830 GMT on Tuesday, up 1.5 pence since their last close, and power prices for baseload (24 hours) delivery on Wednesday were up 1.5 pounds per megawatt-hour (MWh) to ...
Brent inches up towards $103, supply glut caps gains LONDON: Brent crude climbed towards $103 a barrel on Tuesday, rising for a second session, although persistent supply pressure and weak economic data in major consumer countries curbed gains.The benchmark is set for a second straight monthly decline in August as slow growth in China and Europe has curbed oil demand and led to a supply glut in the Atlantic Basin, offsetting the impact on prices from world political tensions.Brent crude rose 16 cents to ...
Statoil to keep Rosneft partnership despite Russia sanctions OSLO: Norwegian energy group Statoil said on Monday it intended to continue its partnership with Russia's Rosneft, despite Western economic sanctions imposed on Moscow for its role in the Ukranian crisis. "Of course, (the imposition of sanctions) hasn't made it any easier for either Rosneft or companies working with that company and other Russian companies," Statoil chief executive Helge Lund told Dow Jones Newswires."But our aim is to continue the (Rosneft) partnership, and we hope ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln