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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, said that local lawmakers also had spurred residents in the area to hold demonstrations over unspecified grievances."These protests have now turned more or less violent to a point where national government has to intervene. It's also been fuelled by the local members of parliament. The grievances are not so clear," he told Reuters by phone."This is an issue now with the national government. It's escalated to (a matter of) security, so let national government deal ...

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 ...
Shell lifts force majeure on Nigerian oil exports LAGOS: Anglo-Dutch oil giant Shell on Friday lifted a force majeure on crude oil exports from Nigeria after repairing a supply pipeline that has been repeatedly sabotaged in the country's oil region.Shell's subsidiary in Nigeria (SPDC) said it "lifted the force majeure on Bonny Light exports effective noon today...following repair of recent spill points on the Trans Niger Pipeline (TNP)."Force majeure is a legal term releasing a company from contractual obligations due to circumstances beyond ...
UAE on track for 3.5mn bpd target: minister DAEGU: United Arab Emirates Energy Minister Suheil al-Mazrouei said Monday the country was on track to achieve its goal of a one-third increase in oil production by 2017."We are confident and the projects are on time," Mazrouei told AFP at the ongoing World Energy Congress in Daegu, South Korea.Back in April, the UAE said it wanted to hike its oil production capacity to 3.5 million barrels per day by 2017, from the then-level of 2.6 ...
Saudi shale gas drilling bears fruit: Aramco head SEOUL: The US shale gas boom will spread "far and wide," the head of Saudi Aramco said Monday, announcing the state oil giant was set to supply gas to a massive Saudi power plant project.The world's largest oil exporter launched an unconventional gas program in northern Saudi Arabia two years ago, as it sought alternative domestic fuel supplies that would allow an expansion of lucrative oil exports."We are now ready to commit gas for the ...
Saudi Aramco to expand Shaybah, Khurais oil output in 2016-17 DAEGU: The world's largest oil exporter, Saudi Aramco, will increase light sour crude output from two fields - Shaybah and Khurais - by 550,000 barrels per day (bpd) in 2016-2017, to rebalance its crude quality and extend the lifespan of mature fields.The expansions of the fields will start up "within a few months of each other," Chief Executive Khalid al-Falih said on Sunday.Shaybah would come first, by the end of 2016 or early 2017, the ...
Iraq's Majnoon oilfield output rises to 175,000 bpd BAGHDAD: Production from Iraq's Majnoon oilfield, run by Royal Dutch Shell, has risen to 175,000 barrels per day (bpd), Deputy Prime Minister for Energy Affairs Hussein al-Shahristani said on Sunday.Majnoon is one of four giant southern fields vital to Iraq's ambition to at least double output that is now around 3 million bpd.The 12 billion barrel oilfield was pumping about 45,000 bpd when Shell took over in 2010, but the Anglo-Dutch major later suspended operations ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln