The government declared that it may reimpose the duty on crude oil imports, its biggest source of Customs revenue before the levy was scrapped last year, as it looks for fresh revenue streams to rein in mounting fiscal deficit. For full story, click here
Continue reading "Crude Oil is likely to get duty recall"
Tuesday, March 24, 2009
Nigeria, Africa’s biggest oil producer, will post a wider budget deficit of 3.02 percent of gross domestic product this year as revenue from crude exports dips. Finance Minister Mansur Muhtar stated: The projected deficit is higher than what it has been in recent years. For full story, click here
Continue reading "Nigerian budget deficit will widen on lower oil revenue"
Sunday, March 15, 2009
US trade deficit sinked in January 2009 to the lowest level in 6 years as a deepening recession cut demand for imported goods at an even faster rate than for exports. The slump in imports was led by a 25.2% dip in imported crude oil, which fell to USD 11.9 billion in January, the lowest [...]
Continue reading "US trade deficit fell to a six year low"
Thursday, November 20, 2008
Vietnam will cut imports of petroleum products by about 3 million metric tons next year as it seeks to curb the widening trade deficit. For full story, click here
Continue reading "Vietnam to reduce petroleum imports to curb trade deficit"
Monday, August 25, 2008
According to the Ministry of Knowledge Economy and Korean Customs, the country accrued a whopping US$6 billion trade deficit this month alone, as of Aug. 20. A ministry official said: Crude oil is still being imported at over $130 a barrel. For full story, click here
Continue reading "Crude Oil Keeps Korea in Red"
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Thursday, June 18, 2009