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Bad weather cuts oil exports from Iraq's south to 1.24mn bpd: source BAGHDAD: Bad weather trimmed oil exports from Iraq's Basra ports to 1.24 million barrels per day (bpd) on Sunday from 1.89 million bpd a day earlier, a shipping source said."High winds in the Gulf stopped full loading from the single-point mooring," the shipping source said.Iraq exports the bulk of its crude from southern ports on the Gulf.Copyright Reuters, 2013 ...

In Libya east, a former rebel commander tests Tripoli BREGA: For Libyan militia leader Ibrahim al-Jathran, shutting down half the country's oil production with an armed militia is not a crime, it is the start of a just battle for a fair share of country's petroleum wealth. From his base near the Mediterranean oil terminal of Brega, the 33-year-old war hero from the uprising against Muammar Gaddafi has taken control of the main oil ports to demand more autonomy and oil for ...
Kenyan official seeks government action as oil drilling halted NAIROBI: Drilling was suspended for a second day on Sunday at Tullow Oil's two exploration blocks in northwest Kenya because of local protests, and a senior local official called for intervention by the government.Tullow Oil said late on Saturday it had temporarily suspended drilling operations on Block 10BB and Block 13T in northwest Kenya due to security concerns after local residents held protests demanding more jobs at the sites.Josphat Nanok, the governor for Turkana County, ...
Saudi oil exports rose to 7.79 bpd in August KHOBAR: Saudi Arabia increased its oil exports by 325,000 barrels a day (bpd) in August compared with July to 7.795 million bpd, the latest official data published by the Joint Data Initiative (JODI) showed on Sunday.The world's largest oil exporter produced 10.19 million bpd of crude, up 156,000 bpd from July, official Saudi government data available through the JODI website showed.Copyright Reuters, 2013 ...
Shell lifts force majeure on Nigerian oil exports LAGOS: Anglo-Dutch oil giant Shell on Friday lifted a force majeure on crude oil exports from Nigeria after repairing a supply pipeline that has been repeatedly sabotaged in the country's oil region.Shell's subsidiary in Nigeria (SPDC) said it "lifted the force majeure on Bonny Light exports effective noon today...following repair of recent spill points on the Trans Niger Pipeline (TNP)."Force majeure is a legal term releasing a company from contractual obligations due to circumstances beyond ...
UAE on track for 3.5mn bpd target: minister DAEGU: United Arab Emirates Energy Minister Suheil al-Mazrouei said Monday the country was on track to achieve its goal of a one-third increase in oil production by 2017."We are confident and the projects are on time," Mazrouei told AFP at the ongoing World Energy Congress in Daegu, South Korea.Back in April, the UAE said it wanted to hike its oil production capacity to 3.5 million barrels per day by 2017, from the then-level of 2.6 ...
Saudi shale gas drilling bears fruit: Aramco head SEOUL: The US shale gas boom will spread "far and wide," the head of Saudi Aramco said Monday, announcing the state oil giant was set to supply gas to a massive Saudi power plant project.The world's largest oil exporter launched an unconventional gas program in northern Saudi Arabia two years ago, as it sought alternative domestic fuel supplies that would allow an expansion of lucrative oil exports."We are now ready to commit gas for the ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln