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Middle East & Africa


Libya crude exports over 39mn barrels in January: NOC ALGIERS: Libya's crude oil exports totalled 39.075 million barrels in January this year, state energy firm National Oil Corporation (NOC) said on Monday. NOC itself exported 29.48 million barrels for $3.3 billion, it said in a statement on its website, adding the rest was exported by its partners, without giving a value. Local refineries consumed 4.326 million barrels, it said. Copyright Reuters, 2013 ...

Libya gas exports to Italy halted after militias clash TRIPOLI: Gas exports to Italy from the Mellitah complex in northwestern Libya have been suspended since Saturday following clashes between rivals militias in the area, Libya's National Oil Corporation (NOC) and Italy's ENI said.Mustafa Sunalla, an NOC deputy chairman, said NOC officials, the Libyan prime minister's office and defence ministry were holding round-the-clock meetings to try to resolve the situation."Gas exports have been completely halted," he told Reuters on Sunday.Thousands of former rebels who fought ...
Saudi Arabia may cut April OSP on weak Dubai SINGAPORE: Top oil exporter Saudi Arabia may lower official selling prices in April for all crude grades for its Asian buyers after the Dubai crude and DME Oman prices weakened, a Reuters survey showed on Friday.Saudi Arabia may lower the OSPs for Arab Extra Light and Arab Light by 40 to 60 cents per barrel, while Arab Medium and Arab Heavy may be cut by 80 to 90 cents, according to the median of estimates ...
South Africa petrol price to rise by 7pc JOHANNESBURG: The retail price of petrol in South Africa will jump by nearly 7 percent a litre next Wednesday, while the wholesale diesel price will increase by 5 percent, the energy department said on Friday. South Africa is a net importer of oil and adjusts its fuel price each month to account for changes in the rand exchange rate, the international oil price and government levies. "During the period under review, the average international ...
Nigeria losing ground in changing oil world ABUJA: Nigeria will earn less for its oil and struggle to replace reserves unless it can end years of industry stagnation, at a time its biggest customer is becoming self-sufficient and African rivals are boosting supplies. A domestic energy boom in the United States has already sharply cut demand for Nigerian oil, while legal uncertainty, political wrangling, corruption and insecurity plague an oil industry which is still Africa's biggest. In addition, rivals on the continent ...
Algerian gas plant resumes production after attack: minister ALGIERS: Algeria's Tiguentourine gas plant resumed some production on Sunday, more than a month after 37 foreign workers were killed in an Islamist attack on the plant, Energy Minister Mohamed Zerguine told state radio."It is a partial resuming of production, we will get 3 billion cubic metres per year," Zerguine was quoted as saying.The plant produces about 9 billion cubic metres per year of gas, about 11.5 percent of the country's annual total.Copyright Reuters, 2013 ...
Nigeria LNG asks BNP Paribas to raise $1.6bn to buy six ships LAGOS: Nigeria Liquefied Natural Gas Company has appointed French Bank BNP Paribas and GT Bank as financial advisers to raise around $1.6 billion to acquire six LNG carrier ships, a banking source close to the deal said on Wednesday.   The company, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, told Reuters a year ago it had contacted global banks to appoint advisers in other to explore the best option ...


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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 $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln