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Middle East & Africa


Iraq BAGHDAD: Iraq's oil exports so far this month are at an average of 2.6 million barrels per day with production at 3.2 million bpd, the country's oil minister told reporters on Saturday.   Copyright Reuters, 2012 ...

Kenya regulator raises fuel prices NAIROBI: Kenya's energy regulator raised fuel prices on Friday, saying this was due to rising international crude oil and refined product prices, increasing the likelihood of higher inflation. Fuel prices have a big effect on the year-on-year rate of inflation, which fell to 6.09 percent in August from 7.74 percent a month before. The Energy Regulatory Commission (ERC) raised the maximum price of a litre of super petrol in the capital, Nairobi, by 2.47 shillings to 108.95 ...
Iraq, Kurds reach preliminary oil deal: officials  BAGHDAD: The Iraqi government and Kurdistan struck a preliminary deal on Thursday on a months-long oil dispute that will see the autonomous region export 200,000 barrels of oil per day, officials said. Kurdistan halted its oil exports via the federal government on April 1 over $1.5 billion it said is owed to foreign oil companies working in the region that Baghdad has allegedly withheld, but then resumed them again on August 7, in what was billed ...
Rwanda to double power output with peat-fuelled plant  KIGALI: Rwanda plans to almost double its electricity generating capacity by burning peat under a 220 million euro ($283 million) deal it signed with a Turkish company on Tuesday to build and run a power plant, the government said. The project, which will be operated by Hakan Mining and Generation Industry and Trade Inc., is expected to produce 100 megawatts (MW) annually once it is running at full capacity. "The implementation of the peat-to-power plant will result ...
High oil price not justified by market fundamentals: Saudi RIYADH: Saudi oil minister Ali Naimi said on Monday the high price of crude was not justified by market fundamentals, stressing that supply and demand are balanced.   "Saudi Arabia is concerned about rising oil prices in the international oil market. The current high price of oil is simply not supported by market fundamentals," he said in a statement.   "The market is well balanced, forward cover remains within an acceptable range and inventories are more than adequate," he ...
Kurdish oil trade with Turkey rising, more to come  KHOR MOR: Kurdistan is taking its first steps towards gaining independence from Baghdad in the sale of its oil and gas with a convoy of trucks taking the condensate liquid fuel bi-products of a remote gas field directly into Turkey. At least 15 trucks a day are loading up with high quality condensate at Khor Mor's gas plant and then trundling down a bumpy road to start the two-day journey to Mersin on the Turkish Mediterranean. In ...
Gulf OPEC big three raise Aug oil output by 400,000 bpd  DUBAI: Oil output by the big three Gulf producers saw a net increase of around 400,000 barrels per day (bpd) in August from July as a sharp rise in Kuwaiti output outweighed cuts by Saudi Arabia and the United Arab Emirates (UAE), industry sources said.   Saudi Arabia and the UAE both cut their production by around 100,000 barrels per day (bpd) in August, to 9.7 million bpd and 2.7 million bpd, respectively, according to Gulf industry ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln