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Middle East & Africa


Egypt says preparing timetable for energy debts CAIRO: Egypt is preparing a timetable for repaying arrears on debts it owes to foreign oil companies operating in the country, the Petroleum Ministry said in an emailed statement on Sunday.The companies will be asked to agree to the proposal, which is being drawn up in coordination with various government entities. The debts have been accumulated over several years.It hopes that by paying back the arrears it will encourage companies to increase investments in oil exploration and development, it said.The government has accumulated debts of several billion dollars for oil and gas it has bought from companies producing within Egypt.Copyright Reuters, 2013 ...

Iraq Aug oil exports rise to average 2.579mn bpd BAGHDAD: Iraq's oil exports rose to an average of 2.579 million barrels per day (bpd) in August, the oil ministry said on Sunday, due to increased shipments from southern oil fields which have helped it move closer to a year-end target.Exports were higher than in July when Iraq exported 2.324 million bpd on average. OPEC's second-largest producer wants to export 2.9 million bpd per day by the end of the year.August oil exports, which have ...
Saudi Aramco signs deals for efficient power plants KHOBAR: Saudi Aramco has signed agreements (ECA) with a Japanese-Saudi consortium to build and operate cogeneration power plants, as the state-owned giant tries to make its operations more energy efficient, it said on Wednesday.Cogeneration saves energy and lowers carbon dioxide emissions by channeling excess heat from electricity generation for other purposes such as domestic heating or industrial processes.Saudi Aramco signed the agreements with Marubeni Corp and JGC Corp of Japan and Saudi Aljomaih Energy & ...
Nigeria to export around 1.79mn bpd in October LONDON: Nigeria is set to export around 1.79 million barrels per day (bpd) of crude in October on 61 cargoes, shipping lists indicated on Tuesday.This is below the 1.94 million bpd due to be exported in September after cargoes of Bonny Light were added to that programme.However it is above the 1.72 million bpd due to be exported in August, which was a four-year low.The programme excludes the Oyo grade, as the information was not ...
Libya says oil production drops to 665,000 bpd TRIPOLI: Libyan oil production has fallen to 665,000 barrels per day (BPD) due to a month long disruption by armed security guards who shut down main export ports, the country's oil minister said on Tuesday."In Libya we are precisely producing 665,000 bpd as a result of the strikes and the problems arising. We used to produce 1,550,000 bpd and when we produce now 665,000 bpd we are talking about a big difference," Abdelbari al-Arusi said ...
High oil price, boosting rival supplies, hurts Iran exports DUBAI: Iran's oil exports are being hurt by current high prices that make it more economical for rivals like the United States to produce more costly oil, Iran's new energy minister said in an interview published by his ministry's website on Saturday.A week into the job, returning oil minister Bijan Zanganeh, who previously filled the post under the reformist president Mohammad Khatami, told oil ministry news service Shana that current prices of over $106 a ...
Iraq, Turkey oil flow resumes: Iraqi officials BAGHDAD: Crude oil flows have resumed through a pipeline running from Iraq's Kirkuk oil fields to the Mediterranean port of Ceyhan in Turkey, two officials from Iraq's North Oil Company said on Saturday.Flows resumed on Friday at around 1700 GMT. They had been halted on Wednesday after three bombs were planted close to the pipeline. It was at least the sixth attack this month.Copyright Reuters, 2013 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln