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Bowleven aims to start Cameroon oil output next year YAOUNDE: U.K.-based energy firm Bowleven plans to start production from its Etinde project offshore Cameroon in mid-2013, an official from Bowleven's Cameroon unit EurOil said on Monday. "After going through the exploration phase in the permit since 1999, we shall soon be embarking on the development and production phase," EurOil chairman Nfon Tabetando told reporters in Yaounde at a news briefing. He declined to provide a production target for the field, but said tests carried out at the permit site had resulted in daily output of 14,576 barrels of liquid hydrocarbons and 50 million cubic feet of natural gas. Tabetando said development of the project is expected to cost as much as $1 billion. Bowleven is the operator of the Etinde permit area and holds a 75 percent stake through its wholly-owned local unit EurOil. Cameroon is one of sub-Saharan Africa's oldest oil producers and is struggling to maintain output levels. Production so far this ...

Libya oil exports at 70 percent of 1.6mn output  TRIPOLI: Libya's oil output has reached around 1.6 million barrels per day and exports are at around 70 percent of that figure, Libyan Oil Minister Abdulrahman Ben Yazza said on Monday. "The challenge is to maintain and increase this production," Ben Yazza told an oil conference in Tripoli. Asked about Libya's oil exports figures, he said: "Almost 70 percent of this production." Copyright Reuters, 2012 ...
Kurdistan seals oil products deal with Baghdad  BAGHDAD: Iraq's autonomous Kurdistan said on Thursday it will receive 147,000 barrels of oil products p e r day, as part of a deal concluded with Baghdad to end a dispute over oil payments.  The deal, which was first outlined last week, will solve only few points of a broader feud between Baghdad and Kurdistan over oil exports, energy policy and territory which have become increasingly contentious topics.  "This deal cannot solve all the problems currently but ...
Angolan oil exports steady at 1.67mn bpd in November  LONDON: Angola is due to export around 1.67 million barrels per day (bpd) of crude oil in November, little changed from the initial loading schedule for October, a preliminary export programme showed on Monday. Fifty-two cargoes are due to load a total of 49.96 million barrels from Angolan export terminals in November, the preliminary programme showed. Preliminary crude oil export programmes are published well ahead of loading dates and are subject to change. Angola's loading programme for October ...
Uganda ups oil reserves estimate 40pc to 3.5bn bbls  KAMPALA: Uganda has officially revised upwards its estimated oil reserves by 40 percent to 3.5 billion barrels after appraisal activity in two blocks revealed more crude deposits, a senior government official told Reuters on Monday.  The east African country discovered commercial hydrocarbon deposits in its western region along the border with the Democratic Republic of Congo in 2006 and estimated reserves at 2.5 billion barrels. However, production has been repeatedly delayed by contractual disagreements, tax disputes ...
Uganda ups oil reserves estimate 40pc to 3.5bn bbls  KAMPALA: Uganda has officially revised its estimated oil reserves to 3.5 billion barrels from 2.5 billion barrels, the commissioner for a state agency in charge of petroleum exploration and production said on Monday.   Uganda discovered commercial hydrocarbon deposits in its western region along the border with the Democratic Republic of Congo in 2006 and estimated reserves at 2.5 billion barrels. Production of the oil has not begun, however.   "We have been doing a lot of appraisal work ...
Blast briefly halts Iraq oil flow: ministry  BAGHDAD: A blast briefly halted the flow of Iraqi crude through the Kirkuk-Ceyhan pipeline with Turkey on Sunday before officials were able to reroute the exports, an Iraqi oil ministry spokesman said. "A blast inside Turkey halted oil exports through one of the Kirkuk-Ceyhan pipelines early on Sunday. We managed to switch the crude flow to another line at 1400 GMT Sunday," Asim Jihad told Reuters. Before the blast, the Kirkuk-Ceyhan pipeline exports were were at normal ...

 



 
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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