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Middle East & Africa


Iraq oil sales recover from lows, but still below peak BAGHDAD: Iraq's oil exports in October recovered from a 19-month low, but remained far below their peak due to ongoing maintenance and sabotage of pipelines, figures released on Saturday showed.Iraq exported 69.8 million barrels of oil in October, or 2.25 million barrels per day, resulting in overall revenues of $7.16 billion (5.28 billion euros), according to the oil ministry.The figures marked an increase from September's 19-month low of 2.07 million bpd, but remained below the 2.62 million bpd exported in April."There was an increase in the amount of production compared to September, despite ongoing maintenance in the southern terminals and the suspension of pumping along the Kirkuk-Ceyhan pipeline several times due to sabotage," the ministry statement said.Most of Iraq's crude is exported via its southern terminals near the port city of Basra, but a significant portion goes through a northern pipeline to the Turkish port of Ceyhan.The southern terminals have ...

Angolan oil exports for Jan at lowest since June 2011  DAKAR: Angola's oil exports are expected to fall to their lowest in two and half years, loading programmes showed on Wednesday.OPEC member Angola will export 1.52 million barrels per day (bpd) of oil in January, down from a planned 1.70 million bpd in December.The export level for January is slightly lower than a previous Reuters estimate of 1.55 million bpd, which was based partially on shipping lists from previous months.Angola will load no cargoes of ...
West Africa Crude-Angolan supported by low January exports LONDON: Angolan crude oil differentials were expected to be firm after a partial loading programme on Tuesday indicated that January volumes could be the lowest in nearly two and a half years, traders said.The partial cargo list indicated exports of around 1.55 million barrels per day (bpd) of crude oil in January, down from 1.70 million bpd planned for December.This would be the lowest export level since June 2011, according to Reuters data. The figure ...
Colombia Jan-Sept coal output falls 11.2pc from year ago BOGOTA: Colombia's coal production from January to September fell to 60 million tonnes, down 11.2 percent from the same period of 2012, the National Mining Agency said on Friday, a drop attributed to strikes at the biggest miners and guerrilla attacks on railways.The world's No. 4 coal exporter has a nationwide target to produce 94 million tonnes of coal this year, up from 89.2 million tonnes for all of last year, but it will now ...
OPEC not expected to change output next month: Kuwait KUWAIT CITY: Kuwait Oil Minister Mustafa al-Shamali said Wednesday that he does not expect the OPEC oil cartel to change production at its next ministerial meeting in December."I don't expect it to be changed because the production till now goes with the needs of consumers and that's enough," Shamali told reporters outside parliament."I think it won't be changed," he said, but added that the decision will ultimately depend on a review of statistics by ministers ...
Oil market stable, prices steady, say two OPEC members ABU DHABI: The oil market is stable and prices are steady, two oil ministers said on Sunday, weeks ahead of an OPEC meeting to decide whether the group needs to adjust its output target. "I think no, now the market is stable," Angola's oil minister Jose Botelho de Vasconcelos told Reuters in Abu Dhabi, when asked if OPEC needs to change its oil policy when the group meets next on Dec. 4 in Vienna. "The ...
Kuwait expects OPEC to keep crude output target unchanged NEW DELHI: Kuwait's oil minister said on Saturday he expected OPEC to keep its crude oil output target unchanged at its next meeting.Kuwait is a member of the Organization of Petroleum Exporting Countries (OPEC), the producer group that pumps more than a third of the world's oil. It will meet next on Dec. 4 in Vienna to decide whether to adjust its output target."It will be a normal meeting. We will consider everything regarding every ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln