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Middle East & Africa


Libya PM hopes oil ports will reopen on Sunday TRIPOLI: Prime Minister Ali Zeidan expects Libyan oil ports seized by a group demanding autonomy for the country's east would reopen on Sunday, state news agency Lana said on Saturday, although it was unclear if the government had concluded a deal with the group.Zeidan also promised that oil sales would be properly accounted for going forward, one of the demands of the group, which has seized three eastern ports that previously accounted for around 600,000 barrels a day in exports.On Tuesday, the autonomy group said it would end its hold on the ports on Sunday if Tripoli allowed it to take a share of oil sales and verify claims of oil sale corruption.Abd-Rabbo al-Barassi, prime minister of the group's self-declared government, said on Friday talks would be held with government officials on Saturday to see whether Tripoli would meet the demands. Otherwise it would sell crude on its own.The group ...

Exxon sells Iraq oil stake to PetroChina: ministry BAGHDAD: American energy giant Exxon Mobil on Thursday sold part of its controversial stake in a massive Iraqi oilfield to PetroChina and Indonesia's Pertamina amid a long-running row with Baghdad.The sale of the stake in the West Qurna-1 field in south Iraq, one of the country's largest, marks a key step towards resolving the dispute with the central government over Exxon's contracts with the autonomous Kurdish region."The agreement was signed for Exxon Mobil to sell ...
Iran nuclear deal shipping insurance element may help oil sales DUBAI: Iran's nuclear deal with the West is not intended to let more of its oil into the market, the White House said, but an easing of the ban on European shipping insurance may help smooth crude exports to its big Asian customers.Iran and six world powers reached a deal early on Sunday to curb Tehran's nuclear programme in exchange for limited sanctions relief.U.S. and European Union sanctions that prevent energy companies from investing in ...
Iraq oil sales recover from lows, but still below peak BAGHDAD: Iraq's oil exports in October recovered from a 19-month low, but remained far below their peak due to ongoing maintenance and sabotage of pipelines, figures released on Saturday showed.Iraq exported 69.8 million barrels of oil in October, or 2.25 million barrels per day, resulting in overall revenues of $7.16 billion (5.28 billion euros), according to the oil ministry.The figures marked an increase from September's 19-month low of 2.07 million bpd, but remained below the ...
Angolan oil exports for Jan at lowest since June 2011  DAKAR: Angola's oil exports are expected to fall to their lowest in two and half years, loading programmes showed on Wednesday.OPEC member Angola will export 1.52 million barrels per day (bpd) of oil in January, down from a planned 1.70 million bpd in December.The export level for January is slightly lower than a previous Reuters estimate of 1.55 million bpd, which was based partially on shipping lists from previous months.Angola will load no cargoes of ...
West Africa Crude-Angolan supported by low January exports LONDON: Angolan crude oil differentials were expected to be firm after a partial loading programme on Tuesday indicated that January volumes could be the lowest in nearly two and a half years, traders said.The partial cargo list indicated exports of around 1.55 million barrels per day (bpd) of crude oil in January, down from 1.70 million bpd planned for December.This would be the lowest export level since June 2011, according to Reuters data. The figure ...
Colombia Jan-Sept coal output falls 11.2pc from year ago BOGOTA: Colombia's coal production from January to September fell to 60 million tonnes, down 11.2 percent from the same period of 2012, the National Mining Agency said on Friday, a drop attributed to strikes at the biggest miners and guerrilla attacks on railways.The world's No. 4 coal exporter has a nationwide target to produce 94 million tonnes of coal this year, up from 89.2 million tonnes for all of last year, but it will now ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln