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Oil prices dip on faltering demand but Libya chaos threatens output LONDON: Brent crude oil prices slipped on Monday as manufacturing growth faltered in Europe and China at a time of ample supplies, although the risk of production setbacks remained high in Libya where the government has lost control of most of the capital.Euro zone manufacturing growth slowed more than expected last month and factory activity in several key countries appeared to be stagnating. French factory output fell at its fastest in 15 months in August.Chinese factory growth slipped to a three-month low in August as foreign and domestic demand cooled, muddying the outlook for demand from the world's key consumer of most commodities.Brent crude was 18 cents lower at $103.01 a barrel by 1030 GMT. U.S. crude traded 27 cents lower at $95.69 a barrel. Floor trading in the United States is closed on Monday for the Labor Day holiday.Ample supply is adding to the recent downward pressure on oil ...

Oil falls below $103 as supply rises, demand falters LONDON: Brent crude oil dipped below $103 a barrel on Monday as data showed manufacturing growth faltering in Europe and China at a time of ample fuel supply. Euro zone manufacturing growth slowed more than expected last month and factory activity in several key countries appeared to be stagnating. French factory output fell at its fastest in 15 months in August.Chinese factory growth slipped to a three-month low in August as foreign and domestic demand ...
Russia's Rosneft restarts Achinsk refinery after fire MOSCOW: Russia's largest oil producer, Rosneft, said on Monday it restarted primary oil processing at its Siberian Achinsk refinery following a fatal fire in June. State-controlled Rosneft said Achinsk started to produce gasoline and diesel starting from Sept 1, along with some other motor fuels. The refinery will produce over 400,000 tonnes of refined products in September, Rosneft added. Eight people died in the fire at the refinery. The outage has led to additional volumes ...
Statoil says normal operations at In Amenas gas plant resuming OSLO: Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by militants killed forty employees, one of the plant's operators, Statoil, said on Monday. "The corporate executive committee has decided that ordinary rotation is to be resumed at the plant as all defined security measures have been implemented," Statoil said in a statement. The plant is operated by BP, Statoil and Algeria's Sonatrach.Copyright Reuters, 2014 ...
Brent rises on Ukraine crisis but heads for monthly fall LONDON: Brent crude oil prices rose towards $103 a barrel on Friday as escalating violence in Ukraine kept Europe's markets on edge, but prices were still on track for a monthly loss as ample supply and weak demand outweighed political concerns. The European benchmark oil contract had plunged over 12 percent from a nine-month high in June to a 14-month low last week as weak demand led to an oil supply glut. Prices rose on ...
Oil climbs on Ukraine tensions, bright US data LONDON: Global oil prices rose on Friday, supported by renewed Russia-Ukraine tensions and bright US economic growth data, analysts said.Brent North Sea crude for October added 42 cents to $102.88 per barrel in midday London deals.US benchmark West Texas Intermediate for October delivery gained 57 cents to $95.12 a barrel.Ukraine and the West said on Thursday that Russian troops are actively involved supporting pro-Kremlin separatists who have been fighting against Kiev's rule since April. NATO ...
Neste Oil cuts profit outlook due to refinery damage HELSINKI: Finland's Neste Oil on Friday cut its profit outlook for the full year due to previously announced hydrogen plant damage at its Porvoo refinery.Neste said it had reduced output and shut down one diesel production line at the refinery, adding that the total impact to operating profit would be about 60 million euros ($79 million) this year.The company said it now expects comparable operating profit for 2014 to be below 400 million euros.It had ...

 



 
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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 28, 2014
Reserves $13.582 bln