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Tullow to shut Ghana Jubilee production ACCRA: Tullow Oil Plc will shut production at Ghana's Jubilee offshore oil field on September 20 for three weeks of maintenance on an $800 million processing and storage vessel, the company said on Monday.Tullow said in its second quarter results maintenance would take place during the third quarter but did not give a date. It began production in December 2010 from the field, which has estimated reserves up to 1 billion barrels.It expects 2013 full year production at 95,000 barrels per day down in part because of the shutdown from 104,000 for the year's first half.Thomas Manu, general manager at state-run Ghana National Petroleum Corporation (GNPC), said the shutdown will be the first major interruption since production began."It is a planned shutdown which has been scheduled to enable us to undertake mandatory service work on the FPSO (Floating, Production, Storage and Offloading)," he said..Copyright Reuters, 2013 ...

Libya oil production slumps to 'below 100,000 bpd' TRIPOLI: A weeks-long blockade by guards at key Libyan oil terminals has sent production plunging to under 100,000 barrels per day in a major blow to the economy, an official said Monday.Guards, mostly ex-rebels who helped topple veteran strongman Moamer Kadhafi in a 2011 uprising, have been on strike since late July and imposed a blockade on oil terminals.They accuse the authorities of corruption by selling crude in excess of documented cargo, while the government ...
Saudi Aramco says Midyan field to produce 75 mcf/day of gas DOHA: Saudi Arabia's Midyan gas field project in the Red Sea is expected to produce 75 million cubic feet of gas per day, Saudi Aramco's chief executive said, production that would help supply the growing domestic market.The world's top oil exporter is trying to boost its gas production quickly enough to meet rapidly rising domestic power demand and feed its booming petrochemical industry."The field development of Midyan is going ahead steadily as planned in all ...
Egypt says preparing timetable for energy debts CAIRO: Egypt is preparing a timetable for repaying arrears on debts it owes to foreign oil companies operating in the country, the Petroleum Ministry said in an emailed statement on Sunday.The companies will be asked to agree to the proposal, which is being drawn up in coordination with various government entities. The debts have been accumulated over several years.It hopes that by paying back the arrears it will encourage companies to increase investments in oil ...
Iraq Aug oil exports rise to average 2.579mn bpd BAGHDAD: Iraq's oil exports rose to an average of 2.579 million barrels per day (bpd) in August, the oil ministry said on Sunday, due to increased shipments from southern oil fields which have helped it move closer to a year-end target.Exports were higher than in July when Iraq exported 2.324 million bpd on average. OPEC's second-largest producer wants to export 2.9 million bpd per day by the end of the year.August oil exports, which have ...
Saudi Aramco signs deals for efficient power plants KHOBAR: Saudi Aramco has signed agreements (ECA) with a Japanese-Saudi consortium to build and operate cogeneration power plants, as the state-owned giant tries to make its operations more energy efficient, it said on Wednesday.Cogeneration saves energy and lowers carbon dioxide emissions by channeling excess heat from electricity generation for other purposes such as domestic heating or industrial processes.Saudi Aramco signed the agreements with Marubeni Corp and JGC Corp of Japan and Saudi Aljomaih Energy & ...
Nigeria to export around 1.79mn bpd in October LONDON: Nigeria is set to export around 1.79 million barrels per day (bpd) of crude in October on 61 cargoes, shipping lists indicated on Tuesday.This is below the 1.94 million bpd due to be exported in September after cargoes of Bonny Light were added to that programme.However it is above the 1.72 million bpd due to be exported in August, which was a four-year low.The programme excludes the Oyo grade, as the information was not ...

 



 
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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