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Middle East & Africa


Nigerian oil exports revised up LONDON: Nigeria will export about 1.86 million barrels per day (bpd) of crude oil in October, slightly more than earlier scheduled, according to revised loading schedules obtained by Reuters on Tuesday. The total is up from 1.83 million bpd initially planned because one 950,000-barrel cargo of the EA crude grade will go for export in October, traders said. There were no exports of EA scheduled in August or September. The upward revision, while slight, adds supply to an oil market already under downward pressure from a glut of crude in the Atlantic Basin. Royal Dutch Shell, the EA operator, declared force majeure on EA in June to repair equipment damaged by bad weather.Shell spokesman Jonathan French said on Tuesday the force majeure was still in place. Oil exports from Nigeria, Africa's top exporter, have recovered from the lowest in at least five years set earlier this year.Copyright Reuters, 2014 ...

Iraq oil exports average 2.375mn bpd in August: officials BAGHDAD: Iraq's oil exports fell in August to an average of 2.375 million barrels per day (bpd) from 2.442 million bpd in the previous month, officials from the state-run South Oil Company (SOC) said on Monday.Iraq exports the bulk of its oil from its southern ports. But shipments from the northern oilfields of Kirkuk have been shut since March 2 due to attacks on a pipeline to Turkey, keeping total exports below their potential."Some days ...
Shell sells some Nigerian onshore oil fields LONDON: Royal Dutch Shell said it had reached deals on some of the four Nigerian oil fields it has offered for sale as the oil major pushes ahead with divesting global assets to cut costs.Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta Oil Mining Licences (OML) 18, 24, 25, 29 - as well as a major pipeline, the Nembe Creek Trunk Line."We have signed ...
Kuwait's KPC in oil deal to export 300,000 bpd to China KUWAIT: Kuwait has concluded a deal with a China's Sinopec trading arm to export 300,000 barrels per day (bpd) of crude oil over 10 years, the head of international marketing at state-owned Kuwait Petroleum Corporation (KPC) said on Monday.Nasser al-Mudaf told Reuters the exports, which will amount to 15 percent of Kuwait's oil export output, start from Monday and are estimated to be worth $120 billion.Mudaf said the contract replaces a previous one for between ...
Israeli tycoon claims huge oil find in DR Congo KINSHASA: A company owned by Israeli mining magnate Dan Gertler said it has discovered vast potential reserves of oil in the strife-torn east of the Democratic Republic of Congo.Oil of DRCongo, a subsidiary of the Fleurette Group, said in a statement that seismic testing from Lake Albert, which forms part of the northeastern border with Uganda, indicated reserves of around three billion barrels of oil.It said exporting the oil from North Kivu province could boost ...
UAE's Dana Gas Q2 net profit jumps 70pc on higher production DUBAI: Dana Gas, the United Arab Emirates energy firm, said on Wednesday that its second-quarter net profit jumped 70 percent as production across the group rose. Dana made a net profit of 169 million dirhams ($46.0 million), the company said in a bourse filing.This compares with 100 million dirhams in the year-earlier period. Revenues for the second quarter were 685 million dirhams, up from 528 million dirhams.Dana said its average overall production volume was up ...
Iraq oil exports reach 2.442mn bpd in July BAGHDAD: Iraq's oil exports increased in July to an average of 2.442 million barrels per day (bpd) from 2.423 in the previous month, the oil ministry said on Monday.Shipments from the northern oilfields of Kirkuk are still suspended, the statement said.The selling price for Iraq's crude is $102.8 per barrel and revenues of $7.8 billion have been generated in July.Iraq exports the bulk of its oil from its southern terminals.Copyright Reuters, 2014 ...


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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 25, 2015
Reserves $15.019 bln