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Middle East & Africa


Dubai refiner ENOC hires M&A team, close to $1.5bn loan DUBAI: Dubai's Emirates National Oil Company (ENOC) has hired a five-person team to work on mergers and acquisitions for the company as it seeks to expand beyond its home emirate, banking sources told Reuters on Sunday. The state-owned company could use some of the proceeds from a $1.5 billion long-term loan, which it is close to agreeing with a group of seven local and international banks, to help fund this, the sources said. ENOC, a downstream-focused firm owned by sovereign fund Investment Corporation of Dubai, operates service stations, fuel terminals and oil tankers in the Gulf. It did not immediately respond to a request for comment. Copyright Reuters, 2015 ...

Tanker loads Libyan oil from Hariga storage, Sarir still disrupted BENGHAZI: A tanker has loaded 600,000 barrels of crude oil from storage at the Libyan port of Hariga, an oil official said on Wednesday.He said that crude supplies from the Sarir oilfield were still disrupted following a pipeline blast.Copyright Reuters, 2015 ...
Oil steadies around $61, Kuwait sees prices supported LONDON: Oil steadied around $61 a barrel on Monday, holding gains from last week, after Kuwait's oil minister said lower supply levels would support prices in the second half of the year.The recent rally "will start holding gains now and hopefully in the second half of 2015 we will see better prices", the minister, Ali al-Omair, said. Supported by signs of lower industry spending, the price of Brent crude has increased by more than 30 ...
Iraq's oil exports drop to 2.535mn bpd in Jan: statement BAGHDAD: Iraq's oil exports dropped to 2.535 million barrels per day (bpd) in January from a high of 2.940 million bpd the previous month, an oil ministry statement said on Thursday.Two weeks of bad weather in the south affected January's total, said a spokesman quoted in the statement.Exports from Iraq's southern terminals reached 2.39 million bpd, while exports from the north via the Kurdistan pipeline were 145,000 bpd in January, the statement said quoting a ...
Ethiopia cancels diesel import tender for March-August SINGAPORE: Ethiopia has cancelled an import tender for up to 120,000 tonnes of diesel fuel for delivery over March to August, and may have bought it through private negotiations instead, traders said on Thursday.Ethiopian Petroleum Supply Enterprise (EPSE) was seeking 80,000 to 120,000 tonnes of 500 ppm sulphur gasoil for delivery into Djibouti.PetroChina had placed the lowest out of three offers at a $5.75 a barrel premium above Middle East quotes for the diesel cargo ...
Kenya's state-run firm to raise $2bn to buy into oil blocks NAIROBI: Kenya's state-run National Oil Corporation will raise $2 billion to take stakes in oil blocks on behalf of the government once they near commercial production, it said on Wednesday.Kenya estimates its crude oil reserves to be about 1 billion barrels and the government can legally take a stake in oil blocks under commercial production through National Oil.The oil firm would raise the money through internal sources, external debt and other equity partners, Joram Temesi, ...
Cameroon hikes 2015 debt issuance to $1.56bn amid fall in oil revenues DAKAR: Cameroon has hiked its debt issuance for 2015 to 900 billion CFA francs ($1.56 billion) from 320 billion initially planned, a decree signed by President Paul Biya said, amid a shortfall in oil revenues due to the slump in global oil prices.The decree signed on Friday authorised the government to "issue debt including Treasury bills and bonds of up to 900 billion CFA francs to finance development projects."It did not give any further details, ...


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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 $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln