01192017Thu
Last update: Thu, 19 Jan 2017 09pm

Asia

Markets - Energy - Asia

Thailand's oil demand seen up 4.4pc in 2016 BANGKOK: Thailand's oil demand is expected to rise 4.4 percent in 2016, up from an earlier forecast of 2.6 percent, due to higher consumption of gasoline and diesel and an improving economy, Thai Oil Plc, the country's largest oil refiner said on Tuesday.Thai Oil is the refinery flagship of PTT Pcl, the country's largest energy firm, with a share of 33 percent of domestic refined oil products.Total oil demand rose 7.4 percent in the first quarter this year, versus 6.6 percent growth in the whole 2015, according to a company presentation."Lower oil prices and better economy helps boost oil demand this year," Chatchai Siriwit, manager for investor relations, said during a quarterly earnings presentation.Demand for jet fuel is forecast to rise 4.4 percent this year, up from an earlier forecast of 2.6 percent, driven by an increasing number of foreign tourists, he said.Demand for gasoline is projected to rise 7.1 ...

Markets - Energy - Asia

China April crude imports from Russia top Saudis, hit record BEIJING/SINGAPORE: Russia was China's largest crude oil supplier for a second month this year, customs data showed on Monday, with shipments in April surpassing imports from Saudi Arabia and hitting a record high as demand from independent refiners remained strong.Crude imports from Russia surged 52.4 percent in April from a year ago to reach 1.17 million barrels per day (bpd), topping the previous record of 1.13 million bpd in December.April imports from Saudi Arabia fell ...

Markets - Energy - Asia

Boss of China solar firm Hanergy steps down after losing billions SHANGHAI: The controversial boss of Chinese solar energy firm Hanergy Thin Film Power Group -- once listed as China's richest man -- has stepped down as chairman and executive director, the company said, almost a year after its shares imploded.Li Hejun stepped down from Friday "for the reason of strengthening corporate governance", Hanergy said in a statement to the Hong Kong stock exchange, where its shares have been suspended since May last year after plunging ...

Markets - Energy - Asia

Asia-Pacific Crude-Pertamina offers prompt Banyu Urip  SINGAPORE: Asia-Pacific crude market softened on Monday after Pertamina offered a prompt cargo of Banyu Urip, adding to ample supplies.Pertamina will close on Tuesday a tender to sell 650,000 barrels of the crude for June loading, traders said, even as the market is trading July cargoes this month.Sweet crude supplies elsewhere remained abundant.Supply disruptions in Nigeria did not help ease the West African oil glut as June-loading cargoes are still unsold.Libya's crude production has also ...

Markets - Energy - Asia

Oil prices dip after Iran says it won't freeze output SINGAPORE: Oil prices dipped in Asia Monday after Iran said it has no plans to join any output freeze by other major producers.The Organization of the Petroleum Exporting Countries -- of which Iran is a member -- is due to meet in Vienna on June 2, after talks in Doha in April involving OPEC members and other major producers such as Russia failed to reach a deal to cap production.Despite a recent rebound, world crude ...