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Kenya raises price caps for diesel, petrol; lowers kerosene NAIROBI: Kenya's energy regulator said on Friday that it was raising the maximum retail fuel prices for petrol and diesel and lowering that for kerosene for the month until mid-March. Fuel prices have a big impact on inflation in east Africa's biggest economy, which depends heavily on diesel for transport, power generation and agriculture, while kerosene is used in many households for cooking and lighting. The Energy Regulatory Commission raised maximum prices charged in the capital Nairobi for super petrol by 0.96 shillings a litre to 111.55 shillings ($1.29) and diesel by 1.07 shillings a litre to 105.80 shillings. It lowered the price of kerosene by 2.00 shillings to 83.07. The prices are effective from Saturday until March. 14. The regulator reviews domestic fuel prices every month, with adjustments made depending on changes in international energy prices and the shilling's exchange rate. Kenya's year-on-year inflation rate rose slightly to 7.21 ...

Iraq cuts March crude prices to Asia; ups US and Europe BAGHDAD: Iraq raised the price of Basra light crude to US buyers for March by 20 cents to 50 cents per barrel below the Argus (ASCI) benchmark and cut the prices to Asia, the State Oil Marketing Organisation (SOMO) said on Sunday. The price for Basra light crude for Asian buyers was set at a discount of 60 cents to the average of Oman-Dubai quotes versus a discount of 30 cents for the previous month. ...
Nigeria faces questions over 'missing' oil money LAGOS: Africa's biggest oil producer Nigeria is facing questions about where billions of dollars in oil money is going, amid suspicions of fraud and it being syphoned off to fund election campaigns. The issue has been rumbling on since September, when the governor of the Central Bank of Nigeria accused the Nigerian National Petroleum Corporation of withholding $49.8 billion in oil revenue. Sanusi Lamido Sanusi, who steps down as central bank chief in the coming ...
UAE's Dana Gas says Q4 profit rises 12pc DUBAI: Dana Gas made a net profit of 128 million dirhams ($34.9 million) in the fourth quarter of 2013, up 12 percent from a year earlier, the United Arab Emirates energy company said on Sunday. Net profit for the full year fell 6 percent to 571 million dirhams, due in part to rising royalty payments to the Egyptian government and lower sales of liquid petroleum gas (LPG) in the Kurdistan Region of Iraq. Dana Gas ...
Middle East Crude: Weakens; ESPO premiums slump SINGAPORE: The Middle East crude market softened on Tuesday, following a slump in Russian ESPO premiums on weak demand. Russian producer Surgutneftegas sold three ESPO cargoes for March loading via a tender to Shell. Two of the cargoes were priced at premiums below $5 to Dubai quotes, down from premiums between $6.2 and $6.9 fetched for cargoes sold last week. The March 23-27 cargo was priced at $6.40 while the March 19-23 and 26-30 cargoes ...
Angola's onshore oil potential over 7 billion barrels: firm LUANDA: Angola has over seven billion barrels of oil potential in onshore blocks and production rights will soon go on sale, state-owed company Sonangol said Monday."The ten blocs that we will award have great potential, with on average 700 million barrels each," said Severino Cardoso, head of exploration at the firm."But that can increase with more exploration," he told a news conference after an information session with prospective investors.Earlier this month Sonangol announced ten new ...
Iraq oil exports dip in 2013: official data BAGHDAD: Iraq's oil exports in 2013 declined compared with the previous year, new figures showed on Wednesday, despite the country's efforts to dramatically ramp up crude sales to fund much-needed reconstruction.Exports in December recovered from multi-month lows earlier in the year, but were still below their peak, with overall exports and revenues for the year lower than similar figures for 2012, according to oil ministry data compiled by AFP.Overall, Iraq exported 72.6 million barrels of ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln