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Oil market stable, prices steady, say two OPEC members ABU DHABI: The oil market is stable and prices are steady, two oil ministers said on Sunday, weeks ahead of an OPEC meeting to decide whether the group needs to adjust its output target. "I think no, now the market is stable," Angola's oil minister Jose Botelho de Vasconcelos told Reuters in Abu Dhabi, when asked if OPEC needs to change its oil policy when the group meets next on Dec. 4 in Vienna. "The market is stable and the price is stable too," Iraq's oil minister Abdul Kareem Luaibi told Reuters. Iraq and Angola are members of the Organization of Petroleum Exporting Countries (OPEC), the producer group that pumps more than a third of the world's oil. OPEC expects global demand for its crude to fall in the next five years because of increasing supplies outside the 12-member group from the boom in shale energy and other sources, according ...

Kuwait expects OPEC to keep crude output target unchanged NEW DELHI: Kuwait's oil minister said on Saturday he expected OPEC to keep its crude oil output target unchanged at its next meeting.Kuwait is a member of the Organization of Petroleum Exporting Countries (OPEC), the producer group that pumps more than a third of the world's oil. It will meet next on Dec. 4 in Vienna to decide whether to adjust its output target."It will be a normal meeting. We will consider everything regarding every ...
Shell 'manipulates Nigeria oil spills probes': Amnesty LAGOS: Amnesty International alleged on Thursday that Shell has repeatedly misrepresented the cause of oil spills in Nigeria, blaming criminal sabotage to avoid liability, in a charge the Anglo-Dutch energy giant dismissed as "unsubstantiated".The number of spills in the southern Niger Delta region, home to Africa's largest oil industry, was "staggering", the London-based rights group said in a new report, "Bad Information. Oil Spill Investigations in the Niger Delta".Shell, the largest onshore operator in the ...
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 ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln