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UK gas prices rise as colder weather lifts demand LONDON: British wholesale natural gas and power prices rose on Tuesday morning as growing demand met low supplies, leaving the system short.Gas prices for delivery within the day were trading at 49.85 pence per therm at 0920 GMT, up 4.5 pence since their last close, and prices for Wednesday delivery were up 1.85 pence to 51 pence a therm.The price rises were down to an undersupplied system. Britain's gas demand was expected to be 202.7 million cubic metres (mcm) on Tuesday, broadly in line with the seasonal norm, but with supplies seen at just 193.2 mcm, the system was left around 10 mcm undersupplied, implying the need for higher imports or storage withdrawals.Analysts said the short system was largely a result of rising demand."It's going to get quite a bit colder tomorrow, which will lift heating demand from 110-120 mcm today to 140 mcm tomorrow," one gas trader said.Meteorologists said ...

Oil prices hold near $86 on China oil demand rise LONDON: Brent crude oil held near $86 a barrel on Tuesday on news of robust Chinese oil demand, although gains were capped by oversupply and concerns over the health of the rest of the global economy.Implied oil demand in the world's largest energy consumer jumped 6.2 percent in September from August to 10.3 million barrels per day, the highest since February.China's factory output also beat expectations, rising 8 percent in September from a year earlier ...
Statoil's oil find in North Sea bigger than expected OSLO: An oil find by Statoil in the Norwegian sector of the North Sea is much bigger than earlier thought and the find could be tied into the Grane field, the firm said in a statement on Tuesday. The discovery, first proven in 1992, contains between 30 and 80 million barrels of recoverable oil, well above previous estimates for about 6 million barrels, the Norwegian Petroleum Directorate added. The find is 7 kilometres north of ...
Oil prices dip after brief recovery LONDON: Oil prices fell on Monday after a brief rebound, with the market weighed down by weak demand growth in an oversupplied market.US benchmark West Texas Intermediate for delivery in November slipped five cents to $82.70 a barrel.Brent North Sea crude for December lost 48 cents to stand at $85.68 a barrel in London midday deals.Both contracts had risen at the end of last week as investors snapped up bargains after prices had tanked to ...
Oil slips below $86 on global oversupply LONDON: Brent crude slipped below $86 a barrel on Monday, resuming a downward move that took the global oil benchmark to near a four-year low last week as supply overwhelmed weak demand in several key markets.Abundant global oil supplies, particularly of very high quality, light oil, coupled with a gloomy economic outlook from Europe to China pushed Brent last week below $83, to its lowest since 2010. Oil prices are down more than 25 percent ...
JSW curbs coal production, investment hit by lower coal prices WARSAW: Poland's JSW, the largest coking coal miner in the European Union, cut its 2014 production target by 9 to 12 percent and slashed investment in an effort to regain profitability after steep falls in coal prices.State-controlled JSW, which swung to a net loss of over $100 million in the first half of the year, said in a statement late on Friday it planned to produce 13.8 million to 14.0 million tonnes of coal in ...
Oil rises above $86 as investors say market oversold LONDON: Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices. "Prices have likely overshot ...

 



 
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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