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Neste Oil cuts profit outlook due to refinery damage HELSINKI: Finland's Neste Oil on Friday cut its profit outlook for the full year due to previously announced hydrogen plant damage at its Porvoo refinery.Neste said it had reduced output and shut down one diesel production line at the refinery, adding that the total impact to operating profit would be about 60 million euros ($79 million) this year.The company said it now expects comparable operating profit for 2014 to be below 400 million euros.It had earlier this month said profit was expected to hit the lower end of its previously stated guidance range of 450 million euros plus or minus 10 percent.Copyright Reuters, 2014


Oil prices up on Ukraine tensions, rosy US data SINGAPORE: Oil prices rose in Asia Friday supported by renewed Russia-Ukraine tensions and upbeat US economic data, analysts said.US benchmark West Texas Intermediate for October delivery was up 11 cents at $94.66 while Brent crude for October advanced 24 cents to $102.70 in mid-morning trade. Ukraine and the West said Thursday that Russian troops are actively involved supporting pro-Kremlin separatists who have been fighting against Kiev's rule since April. NATO said at least 1,000 Russian ...

UK gas prompt prices rise on undersupplied system LONDON: Prompt natural gas prices in Britain rose on Thursday morning as a dip in supplies from from Norway left the system undersupplied.Prices for within-day delivery were trading at 43.90 pence per therm at 0853 GMT, up 0.70 pence since their last settlement. Prices for delivery on Friday were also up 0.70 pence at 43.70 pence per therm.Traders said demand for gas from power generators is high due to outages at nuclear plants in Britain ...

Middle East crude Oman weakens despite uptick in refining margins  SINGAPORE: The Middle East crude market weakened on Thursday as abundant supply and weak demand continued to weigh on the market despite a slight improvement in refining margins.Shell sold two Dubai partials to Vitol in the Platts window at $100.60 a barrel.Refining margins have improved slightly over the past 10 days, mainly due to improving middle distillate cracks.Murban was discussed at 80-90 cents a barrel below the official selling price (OSP), while Das Blend was ...

Asia Pacific crude brent/Dubai gap narrows; ESPO steady SINGAPORE: The Asia-Pacific crude market held steady on Thursday, although differentials could find support from Brent's narrowing premium to Dubai and lower inflows of West African grades.Differentials for Russia's ESPO crude held steady after Surgut sold three 730,000-barrel cargoes at $1.50-$1.80 a barrel above Dubai quotes.Premiums for the sour grade have ranged between $1.20 and $1.80 a barrel over the last couple of weeks, according to Reuters data.Differentials failed to improve despite lower supply expected ...

West Africa oil exports to China at near record in Sept LONDON: A surge in Chinese buying to near record highs pushed up West African crude oil exports to Asia in September, a Reuters survey of traders showed on Thursday.Exports from Nigeria, Angola and other West African oil producing nations are set to rise to around 2 million barrels per day (bpd) from the 1.59 million bpd originally planned in August, the survey indicated.There is set to be a substantial rise in exports to China, which ...

CNOOC H1 net profit falls 2.3pc, beats estimates HONG KONG: State-run Chinese offshore oil and gas producer CNOOC Ltd reported a 2.3 percent drop in its first-half net profit due to a surge in production costs, but the fall was less than analysts had forecast.CNOOC posted a consolidated net profit of 33.59 billion yuan ($5.47 billion) for the January-June period, lower than the 34.38 billion yuan profit for the same year ago period. That compared with an average forecast of 29.62 billion yuan ...


 



 
Index Closing Chg%
Arrow DJIA 17,079.57 0.25
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln