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Middle East & Africa


South Africa's petrol price to stay flat in August JOHANNESBURG: The retail price of petrol in South Africa will remain unchanged at 14.33 rand ($1.34) a litre from next Wednesday, while wholesale diesel will dip by 0.4 percent, the Department of Energy said on Friday. Copyright Reuters, 2014 ...

Nigerian crude exports to hit 16 month high in Sept LONDON: Nigeria will export around 1.90 million barrels per day (bpd) of crude oil in September including deferred cargoes, the highest monthly total in more than a year, according to loading schedules seen by Reuters on Friday. September's total will load in 61 cargoes and is up from August's revised rate of 1.82 million bpd.The total includes two cargoes of Qua Iboe crude, which were delayed to September from August. Nigeria's exports in September will ...
Uganda orders Tullow Oil to pay $407mn tax bill KAMPALA: A Ugandan tax appeals court on Wednesday ordered the Anglo-Irish firm Tullow Oil to pay a $407 million tax bill related to the sale of local assets in 2012.Tullow Oil, which had already paid $142 million or 30 percent of the bill to appeal an earlier ruling, contested the decision and said it might seek international arbitration.The ruling holds that the firm is fully liable to pay capital gains tax on the $2.9 billion ...
Saudi June oil production rises to 9.780mn bpd RIYADH: Saudi Arabia produced 9.780 million barrels per day (bpd) of crude oil in June, up from 9.705 million bpd in May, an industry source familiar with the matter said. The world's largest oil exporter supplied 9.745 million bpd to the market. Supply to the market may differ from production depending on the movement of barrels in and out of storage. Copyright Reuters, 2014 ...
Yemen oil export income tumbles 64pc in May, reserves sink DUBAI: Yemen's income from oil exports tumbled by over 64 percent to $73.4 million in May from a year ago, due to attacks on an export pipeline, and the central bank's foreign asset reserves shrank to their lowest since end-2011, data showed on Sunday.Sanaa's finances have deteriorated as it has been caught in a nationwide fight against al Qaeda militants and other rebel groups. It has suffered power cuts and petrol shortages with the government ...
Egypt says to pay $1.5bn oil debt this year as energy crisis mounts CAIRO: Egypt will pay $1.5 billion of the money it owes to foreign energy companies by the end of 2014, its oil minister said on Thursday, as the government tries to stave off a worsening power crisis.Political turmoil and violence since the 2011 revolt that ousted autocrat Hosni Mubarak has hit the economy hard and deepened problems in the chaotic and underdeveloped energy sector with generous state subsidies stoking demand.The latest government figures put Egypt's ...
Libya's oil output around 270,000 bpd, Hariga still closed: NOC TRIPOLI: Libya is currently producing around 270,000 barrels of oil, a spokesman for state-owned National Oil Corp (NOC) said on Tuesday.NOC spokesman Mohamed El Harari also said the eastern port of Hariga had been closed again by protesters. A first tanker had loaded oil on Saturday but protesters are blocking the docking of a second.The 340,000-bpd-El Sharara oilfield also remains closed, he said, adding that the El Feel oilfield was pumping around 95,000 bpd.Copyright Reuters, ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln