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Gabon oil refinery output to fall in 2014 LIBREVILLE: Production from Gabon's state-run oil refining company is set to fall by one third to 600,000 tonnes this year because of disruptions in the supply chain, oil minister Dieudonn? Ngoubou said on Friday.The production slump at SOGARA has led to a shortage of fuel for domestic consumption and long lines at petrol stations."The problems that we have had in the last week are due to poor organization of the distribution chain," said Ngoubou, who added that gas stations would be replenished soon."We are forced to import 300,000 tonnes from Ivory Coast to meet the need." He referred to an estimate of imports from Ivory Coast in 2014. Gabon's domestic fuel needs were estimated at 900,000 tonnes per year in 2013."There is nothing. No more gasoline. Everything was emptied yesterday," said Laurent, a petrol pump attendant in the Arambo district near the centre of the capital.State-run Gabon Oil Company plans ...

Kenya raises diesel, kerosene prices, lowers petrol NAIROBI: Kenya's energy regulator raised the maximum retail price of a litre of diesel and kerosene on Saturday, and lowered that of petrol, reflecting their import costs.Fuel prices have a big effect on inflation in east Africa's biggest economy, which relies heavily on diesel for transport, power generation and agriculture, while kerosene is used in many households for cooking and lighting.The government started carrying out a monthly review of retail fuel prices in 2010 after ...
Kuwait sets July crude OSP to Asia at Oman/Dubai minus $0.10/bbl SINGAPORE: Kuwait set the official selling price (OSP) for its crude oil sales to Asian buyers for July at $0.10 a barrel below the average of Oman/Dubai quotes, up 90 cents from the month before, a source familiar with the matter said on Wednesday.Kuwait's crude price formula is loosely linked to that of Saudi Arabia's Arab Medium grade. Copyright Reuters, 2014 ...
Iraq says southern oil facilities ‘very, very safe’ VIENNA: Iraq's southern oil export facilities, currently its only export outlet, were secure, with shipments now running at around 2.6 million barrels per day, Oil Minister Abdul Kareem Luaibi said on Wednesday.An al Qaeda splinter group seized control of the northern Iraqi city of Mosul on Tuesday, putting security forces to flight in a spectacular show of strength against the Shi'ite-led Baghdad government."All our exports now are from the Basra terminal in the south - ...
Cameroon banks earn $13.5m in oil transit fees YAOUNDE: Cameroon's state oil firm SNH earned 6.49 billion CFA francs ($13.46 million) in transit fees for Chadian oil shipped to Cameroon's coast from January through April, triple the amount during the same period last year.The spike in revenues comes after Cameroon last year more than tripled the transit fee land-locked Chad would pay to ship its oil to Cameroon's coast.SNH said in a statement issued on Monday that 10.45 million barrels of Chad's oil ...
Iraq oil exports continue rebound in May: ministry BAGHDAD: Iraqi oil exports rose for a second consecutive month in May, figures showed Sunday, despite a northern pipeline remaining disabled and a central government row with the country's Kurdish region.Crude exports averaged around 2.58 million barrels per day (bpd) last month, all of which were shipped from Iraq's southern export terminals, the oil ministry said in a statement.The sales raised $8.68 billion in revenues.The average daily exports marked an increase from April's figure of ...
Egypt opens tender to import fuel in July-Sept 2014: official CAIRO: Egypt has launched a tender to import hundreds of thousands of tonnes of petroleum products in the third quarter of 2014, an energy official said on Saturday, as the country tries to stave off a summer energy crisis.Egypt's government wants to avoid major power blackouts during the months of increased consumption in the summer, when outages are worsened by a dilapidated grid and a wasteful subsidies system.The tender comes in addition to supplies from ...

 



 
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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