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Saudi oil output bounces back in June  DUBAI: Top oil exporter Saudi Arabia showed no sign of cutting back supply in June following last month's OPEC agreement to rein in production, instead raising output by 300,000 barrels per day (bpd) from May to 10.1 million bpd, an industry source said. After reducing output in May to 9.8 million bpd from April's 30-year high of 10.1 million bpd, the world's largest oil exporter raised production again in June, the source said on Wednesday. Internal demand for Saudi crude rises sharply in the hot summer months from June to August. Export volumes were not available.  In addition to the 10.1 million bpd pumped from Saudi fields, the kingdom topped supplies up last month with about 200,000 bpd from storage, the source added. OPEC ministers at a meeting in mid-June said they would adhere to a collective production limit of 30 million bpd, implying a 1.6 million bpd cut from actual supply of ...

Saudi oil output bounces back to 10.1mn bpd in June DUBAI: Top oil exporter Saudi Arabia pumped 10.1 million barrels per day (bpd) of crude oil in June, raising output by 300,000 bpd from May, an industry source said on Wednesday. After reducing output in May to 9.8 million bpd from April's 30-year highs of 10.1 million bpd, the world's largest oil exporter raised production again in June. In addition to the 10.1 million bpd pumped from Saudi fields, the kingdom topped supplies up with about 200,000 ...
Eni says oil spilling in Nigeria due to sabotage MILAN/YENAGOA: Italian oil major Eni said on Sunday there has been an oil spill on its Nembe-Obama pipeline in Nigeria's onshore Niger Delta due to sabotage. "Already this morning repair work has started. The wells of Nembe South have been closed with a minimal impact on production," a spokesman for the company said. Copyright Reuters, 2012 ...
Iraq Basra oil exports drop to 864,000 bpd  BAGHDAD: Bad weather further disrupted crude exports from Iraq's southern Basra terminals on Saturday, with shipments dropping down to 864,000 barrels per day, a shipping source said. Oil exports were at 1.512 million bpd on Friday as strong winds stopped ships loaded with crude from leaving the Gulf. Copyright Reuters, 2012 ...
Iraq Basra oil exports drop to 864,000 bpd BAGHDAD: Bad weather further disrupted crude exports from Iraq's southern Basra terminals on Saturday, with shipments dropping down to 864,000 barrels per day, a shipping source said. Oil exports were at 1.512 million bpd on Friday as strong winds stopped ships loaded with crude from leaving the Gulf. Copyright Reuters, 2012 ...
Iraq Basra oil exports cut due to weather  BAGHDAD: Bad weather disrupted oil shipments from Iraq's southern Basra terminals on Friday, with only 1.512 million barrels being exported compared to 2.61 million the previous day, a shipping source said. "The high winds in the Gulf are preventing the ships that are already loaded from leaving," the source said, adding that the weather was also making it impossible for incoming tankers to dock. Iraq exports the bulk of its crude from southern ports on the Gulf. Copyright ...
Africa Oil says finds additional oil in Kenya well NAIROBI: Canada's Africa Oil said on Wednesday its estimate of the amount of potential oil in its Kenyan well has increased by a third since the east African country announced its first oil discovery in March. The company said it has found an additional 43 metres of potential oil pay in its Ngamia-1 well in northern Kenya, which is operated by Africa Oil's partner British exploration firm Tullow. "The net oil pay logged in Ngamia-1 is more ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln