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Middle East & Africa


Mozambique gas discoveries to 80trn cubic feet: Eni MILAN: Italian oil and gas giant Eni said on Wednesday it had completed its appraisal of gas discoveries at its Mozambique fields, and that they contained a more-than-expected 80 trillion cubic feet."The well results have exceeded expectations and Eni has updated the estimate of the Mamba Complex and Coral discoveries to 80 trillion cubic feet (Tcf) of gas in place," Eni said in a statement. Eni said it is now finalising the development plans. Eni is the operator of Area 4 field, with a 70% participating interest. The other partners of the joint venture are Galp Energia (10 percent), KOGAS (10 percent) and ENH (10 percent). Copyright Reuters, 2013 ...

Iraq oil exports up in March BAGHDAD: Iraq's overall oil exports, which account for the lion's share of government income, were up in March but average daily exports fell, oil ministry spokesman Assem Jihad said on Tuesday.Iraq exported 74.9 million barrels of oil in March, an average of about 2.4 million barrels per day, compared to 71 million barrels in February, or about 2.54 million bpd, Jihad said.Sales brought in $7.772 billion, up from $7.644 billion in February.Baghdad is almost entirely ...
Syria's oil industry choked by conflict and sanctions PARIS: The European Union was set Monday to ease its embargo on Syria's oil production, which has dwindled to just a third of the level before the conflict erupted in March 2011. Following is a rundown of the current state of Syria's oil sector:PRODUCTION AND EXPORTS: From around 400,000 barrels of oil a day in early 2011 -- ranking the country as the world's 30th biggest oil producer -- the International Energy Agency (IEA) estimates ...
Angola oil exports to dip in June-loading schedule LONDON: OPEC member Angola is due to export around 1.66 million barrels per day (bpd) of crude oil in June, a provisional loading programme showed on Monday.June's figure is down from a planned 1.83 million bpd in May. The oil was due to be shipped out in 52 cargoes, the list showed, against the 58 cargoes due for loading in May. A trader said that the fall did not indicate problems in production.Just one cargo ...
Uganda agrees to small refinery so oil output can start KAMPALA: Uganda agreed with France's Total and China's CNOOC to build a much smaller refinery than it had wanted, in a compromise removing one obstacle to commercial output of the country's oil. The Ugandan government said on Monday it agreed with the two energy companies on an initial processing capacity of 30,000 barrels per day - well below the 200,000 bpd it had earlier advocated. Rather than build a major refinery in Uganda, Total and ...
Kenya cuts fuel prices NAIROBI: Kenya's energy regulator lowered retail fuel prices for petrol, diesel and kerosene on Sunday, citing a stronger shilling versus the dollar, and slightly lower crude oil prices on the world markets. Fuel prices have a big impact on the rate of inflation in the east African economy. The rate, which slowed to 4.11 percent in March from 4.45 percent a month earlier. The Energy Regulatory Commission (ERC) trimmed the maximum price of a litre ...
KenolKobil posts 9bn shilling loss in 2012 NAIROBI: Kenyan oil marketer KenolKobil posted an 8.96 billion shilling ($105.66 million) pretax loss in 2012 from a 4.93 billion shilling profit the previous year, it said on Monday. KenolKobil, which operates in several countries including Ethiopia, blamed volatile international oil prices and foreign exchange rates, high inflation and high lending rates for the results it termed "disappointing". "The most significant impact on performance came from realised foreign exchange loss of 4.2 billion shillings during ...


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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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln