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Middle East & Africa


Adnoc finalises 2015 jet fuel term contracts at lower premium SINGAPORE: Abu Dhabi National Oil Co has finalised its 2015 jet fuel term contracts at slightly lower levels than the current year, industry sources said on Tuesday. The refinery finalised its January to December 2015 jet fuel contract at a premium of $1.90 a barrel above Middle East quotes, about 14 percent lower than the $2.20 a barrel it set for its 2014 term cargoes. Buyers include Total, BP, Mitsui, Petrobras and Emirates National Oil Company, they said, although this could not immediately be confirmed. Volumes could also not immediately be verified but are likely to be the same as 2014, one of them said. ADNOC skipped term exports of jet fuel for its July to June term contract this year, due to an increase in domestic demand, sources said. ADNOC will not be offering term exports of diesel outside the local market until production is stable at its Ruwais ...

Kuwait oil minister says doesn't think OPEC will cut ABU DHABI: OPEC is unlikely to decide to cut its oil output ceiling at its next meeting on Nov. 27, Kuwait's oil minister Ali al-Omair told reporters on Monday."It's too early to decide, but I don't think so," he said in response to a question on the sidelines of a major energy industry conference in Abu Dhabi. "It will be a hard decision but I don't think there will be any cut."Omair also said he ...
Fall in oil prices costs Iraq 27pc of expected revenues BAGHDAD: The sharp decline in global oil prices has "greatly affected" Iraq, costing the country 27 percent of its projected revenues for the year, the oil ministry said on Saturday."The Iraqi economy and the federal budget were greatly affected by the projected decline in revenues, and more than 27 percent of its projected revenues for this year were lost," the ministry said.Oil prices have declined sharply since June, hitting the state coffers of energy-dependent countries.Iraq ...
Saudi Aramco says operations unaffected by pipeline leak RIYADH: Saudi Aramco operations are unaffected by a leak and fire which hit a diesel fuel pipeline near the capital Riyadh, a company statement received on Thursday said.The state-owned firm is the world's largest oil company in terms of crude production and exports."There were no injuries reported and there were no interruptions to the company's core business activities," the statement said.On Wednesday evening, fire broke out after a leak occurred in the diesel line along ...
Jordan Petroleum seeks 120,000 tonnes gasoline for Dec-March SINGAPORE: Jordan Petroleum Refinery is seeking about 120,000 tonnes of gasoline for delivery over late December to March, similar volumes to a previous purchase, a tender document showed on Thursday.The refiner is seeking four cargoes of 33,000 tonnes each of 95-octane gasoline for delivery over Dec. 25 to March. Each cargo has a tolerance level of 10 percent.The cargoes are to be delivered into Aqaba port and will be priced off Mediterranean quotes, according to ...
Italy's ENI sees first oil from Congo's Nene field soon CAPE TOWN: Italian oil and gas firm ENI expects first oil from its Nene field, off the coast of Congo, before year-end and first gas from its Litchjendily field in 2015, a senior official said on Tuesday. The fields are located in the Marine 12 Block, about 35 kilometres from the shore and close to where ENI announced a recent discovery of the Minsala Marine with an estimated 1 billion barrels of oil. Copyright Reuters, ...
Frontier fund selling weighs on UAE, Qatar DUBAI: Selling by foreign frontier funds sparked heavy profit-taking in the United Arab Emirates and Qatar on Thursday. Saudi Arabia also declined, but Egypt rose for a third day. A number of companies from the UAE and Qatar remain part of MSCI's Frontier 100 benchmark even though the index compiler upgraded both countries to emerging market status in May. MSCI's opted to gradually phase those stocks out of the frontier index through monthly weighting reductions ...


Index Closing Chg%
Arrow DJIA 18,096.90 0.58
Arrow Nasdaq 4,967.14 0.26
Arrow S&P 2,098.53 0.44
Arrow FTSE 6,919.24 0.44
Arrow DAX 11,390.38 0.98
Arrow CAC-40 4,917.35 0.99
Arrow Nikkei 18,703.60 0.59
Arrow H.Seng 24,465.38 0.96
Arrow Sensex 29,380.73 0.72

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln