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Middle East & Africa


South Africa's petrol price to drop by 5.2pc on December 5 JOHANNESBURG: The retail price of 95-grade petrol in South Africa will drop by 69 cents or 5.2 percent a litre from next Wednesday, while wholesale diesel will decrease by 4.6 percent, local radio said on Friday. Petrol will cost 12.47 rand ($1.13) a litre while the wholesale diesel price will be 11.31 rand in the main Gauteng inland region. Copyright Reuters, 2014 ...

Qatar oil minister says sees OPEC harmony, no crisis VIENNA: Qatar Oil Minister Mohammed al-Sada said on Thursday that he sees harmony among OPEC members and does not see a crisis.Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in ViennaCopyright Reuters, 2014 ...
Saudi's Naimi says oil market will stabilise eventually VIENNA: Saudi Arabian Oil Minister Ali al-Naimi told reporters on Wednesday that he believed the oil market "will stabilise itself eventually".Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna.Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut.Copyright Reuters, 2014 ...
Saudi Aramco says cyclicality of oil markets won't affect long-term strategy DUBAI: The cyclicality of oil markets won't take Saudi Aramco's long-term corporate strategy off track, its Chief Executive Khalid al-Falih told a chemical industry conference in Dubai on Monday.Copyright Reuters, 2014 ...
US says welcomes oil deal between Iraqi Kurdistan and Baghdad ISTANBUL: The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, US Vice President Joe Biden said on Saturday.Biden told an Atlantic Council summit in Istanbul that Washington also supported the development of an oil pipeline from Iraq's Basra to Turkey's Mediterranean port of Ceyhan.Copyright Reuters, 2014 ...
Gulf to reject OPEC cuts to guard oil market share KUWAIT CITY: Gulf oil producers led by Saudi Arabia will likely reject output cuts at an OPEC meeting next week unless they are guaranteed their market share in a highly competitive market, analysts say.The stance of Kuwait, Qatar, United Arab Emirates and Saudi Arabia is seen as crucial for a positive OPEC decision on reducing supplies to boost crude prices, which have shed a third of their value since June.The four pump a total 16.2 ...
Saudi crude oil exports edge up to 6.72mn bpd in Sept DUBAI: OPEC heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day (bpd) while volumes used by domestic refineries remained high, official data showed on Tuesday.The world's top oil exporter shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July's 6.989 million, data published by the Joint Organisations Data Initiative (JODI) showed.Production rose to 9.704 million in September from 9.597 million ...


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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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln