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West Africa Crude-Differentials pressured LONDON: West African crude oil differentials stayed under pressure on Monday, with sales slow as buyers awaited lower offers before picking up the ample supply available for February loading. Highlighting fading demand from the biggest customers of West African crude oil, exports to Asia will fall to around 1.86 million barrels per day from 2.16 million bpd in December, a Reuters survey showed on Monday. Traders said that signs of increasing exports from Libya were adding to pressure on Nigerian crude oil grades, which are of similar quality. Libya's El-Sharara oilfield production is at 205,000 barrels per day (bpd) after protests there ended, and should reach full output capacity of 340,000 bpd later on Monday or by Tuesday, National Oil Corp. spokesman Mohamed al-Harari said. Traders of Angolan crude oil were watching developments in South Sudan as supply from both nations is typically relatively heavy and high in sulphur. ...

UAE's ADNOC sets Dec Murban crude price at $113.85/bbl DUBAI: Abu Dhabi National Oil Company (ADNOC) set the December retroactive selling price for its benchmark Murban crude at $113.85 per barrel, ADNOC said on Sunday. Copyright Reuters, 2014 ...
Libya warns against buying crude from seized oil ports in east TRIPOLI: Libya warned customers against buying any crude offered by a pro-autonomy group which seized three oil ports in the east of the OPEC producer more than five months ago, the state oil firm said on Saturday. The heavily-armed group calling for autonomy and a greater share of oil sales is occupying the eastern Ras Lanuf, Es-Sider and Zuweitina ports, which previously accounted for 600,000 barrels a day of oil exports. ...
Libya Hariga port stays shut as oil deadlock drags on TRIPOLI: An eastern oil port, which officials had said was to open soon, remained shut on Monday, as the paralysis of Libya's oil sector continued, caught in a struggle between Tripoli and the regions. Hariga has been shut since August due to an occupation by local people. The 110,000 barrels per day oil port was still closed but officials were "looking forward to hearing good news," National Oil Corp spokesman Mohamed al-Harari said. ...
Libya's Hariga port to resume exports within days BENGHAZI: Libya's eastern Hariga port will resume oil exports within days after authorities reached an agreement with protesters to end four months of blockage, an oil official said on Friday.Tribesmen and other protesters have occupied Hariga, located in Tobruk in the far east of Libya, since August to press for political and financial demands despite several government attempts to reopen the terminal.A reopening of the export port would be a victory for Prime Minister Ali ...
South Africa's petrol price to increase 3pc on Jan. 1 JOHANNESBURG: The retail price of petrol in South Africa will increase by up to 39 cents or nearly 3 percent a litre from next Wednesday, while wholesale diesel will rise by 32 cents or 2.5 percent, the Department of Energy said on Friday. Petrol will cost 13.57 rand ($1.31) a litre and diesel 12.87 rand in the main Gauteng inland region, the department said in a statement. Copyright Reuters, 2013 ...
Kenya seeks over 470,000 tonnes oil products for Jan-Feb SINGAPORE: Kenya's oil importers are seeking over 470,000 tonnes of oil products for delivery over January to February, slightly lower than its previous purchases for November to January, industry sources said on Monday.They are seeking 111,672 tonnes of jet fuel, 196,772 tonnes of 500 ppm sulphur gasoil and 129,648 tonnes of gasoline for delivery over January to February.The cargoes are for delivery into Kipevu Oil Terminal, the sources said.The importers are also seeking a combination ...

 



 
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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