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West Africa Crude-Angolan supported by low January exports LONDON: Angolan crude oil differentials were expected to be firm after a partial loading programme on Tuesday indicated that January volumes could be the lowest in nearly two and a half years, traders said.The partial cargo list indicated exports of around 1.55 million barrels per day (bpd) of crude oil in January, down from 1.70 million bpd planned for December.This would be the lowest export level since June 2011, according to Reuters data. The figure could be revised higher, however, as traders said more cargoes might be added.A trader said that Sonangol, the state oil exporter, had put out initial indications for differentials to dated Brent at around 50 cents higher than where it sold December cargoes."Looks a bit adventurous, but limited availability may allow them to achieve better numbers," a trader said.Nigerian differentials were under pressure, with around four cargoes of the benchmark Qua Iboe grade still available for ...

Colombia Jan-Sept coal output falls 11.2pc from year ago BOGOTA: Colombia's coal production from January to September fell to 60 million tonnes, down 11.2 percent from the same period of 2012, the National Mining Agency said on Friday, a drop attributed to strikes at the biggest miners and guerrilla attacks on railways.The world's No. 4 coal exporter has a nationwide target to produce 94 million tonnes of coal this year, up from 89.2 million tonnes for all of last year, but it will now ...
OPEC not expected to change output next month: Kuwait KUWAIT CITY: Kuwait Oil Minister Mustafa al-Shamali said Wednesday that he does not expect the OPEC oil cartel to change production at its next ministerial meeting in December."I don't expect it to be changed because the production till now goes with the needs of consumers and that's enough," Shamali told reporters outside parliament."I think it won't be changed," he said, but added that the decision will ultimately depend on a review of statistics by ministers ...
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 ...
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 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln