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Kenya seeks over 670,000 tonnes oil products for July-August SINGAPORE: Kenya's oil importers are seeking more than 670,000 tonnes of oil products for delivery over July-August, continuing its persistently high imports during the summer, industry sources said.Kenya has been importing record volumes of oil products as its economy gathers steam, soaking up some of Asia's excess supply and helping put a floor under refining margins.Industrial expansion and a growing fleet of automobiles in a region that lacks refining capacity have stoked East African appetite for oil product imports.In the latest tender, Kenya's oil importers are seeking 357,141 tonnes of 50ppm sulphur diesel, 217,890 tonnes of gasoline and 97,625 tonnes of jet fuel.The tender will close on June 23.They last bought nearly 200,000 tonnes of oil products for delivery over June and July from KenolKobil, Gapco, Hashi Energy and Mogas Kenya.Copyright Reuters, 2015 ...

Saudi Arabia's April crude oil exports down slightly KHOBAR: Saudi Arabia's April crude exports fell slightly to 7.737 million barrels per day (bpd) from 7.898 million bpd in March, figures supplied by Riyadh to the Joint Organisations Data Initiative (JODI) showed.Output from the world's largest oil exporter inched up to 10.308 million bpd from 10.294 million bpd, according to JODI.Copyright Reuters, 2015 ...
UAE oil minister says studying fuel subsidies, report ready soon ABU DHABI: The United Arab Emirates' oil ministry is studying the country's system of fuel subsidies and a report will be submitted to the government soon, oil minister Suhail bin Mohammed al-Mazroui said on Monday.Speaking at an industry conference, he said the government had requested the report after there were questions over why domestic fuel prices didn't drop after the recent plunge of global oil prices.Mazroui did not elaborate. Government subsidies keep domestic prices of ...
Iraq oil production now 3.8mn bpd LONDON: Iraq's oil production is around 3.8 million barrels per day (bpd) and is set to rise to 5.5-6.0 million bpd by the end of this decade, Iraq's OPEC governor said in London on Tuesday, speaking on behalf of the country's oil minister.Copyright Reuters, 2015 ...
Nigeria's Bonny LNG tenders to sell one cargo mid-June-sources LONDON: Nigeria's Bonny liquefied natural gas (LNG) export plant has launched a tender to sell one cargo loading on June 14-16, two industry sources said on Tuesday. Bids are due by June 1, one of the sources said. > ...
Iran says OPEC unlikely to change output ceiling: Mehr news agency DUBAI: OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency."Lowering OPEC's production ceiling requires consensus between all members ... under current conditions it seems unlikely that the OPEC production ceiling will change," Zanganeh was quoted as saying.Last month, Zanganeh said the producing group should cut its target daily crude production by at least 5 percent, ...
Shell declares force majeure on Nigeria crude exports because of leaks LAGOS: Anglo-Dutch oil giant Shell has halted crude exports from a key terminal in southern Nigeria because of a leak in a supply pipeline, a spokesman said Thursday."We declared force majeure on Forcados exports effective 6:00 pm Tuesday due to a series of leaks on the NPDC-operated Trans Forcados pipeline," Precious Okolobo said in a text message to AFP in Lagos.Force majeure is a legal term releasing a company from contractual obligations when faced with ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln