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Canadian Oil Sands in early-stage talks with potential bidders TORONTO: Canadian Oil Sands, which is trying to attract a white knight after a hostile bid from Suncor Energy, needs more time to review its options as more than two dozen parties have expressed an interest in the company, according to a regulatory filing. An affidavit submitted to the Alberta Securities Commission by the Royal Bank of Canada, which has been retained by Canadian Oil Sands to lead a review of the company's options, said "four highly credible parties" have already signed confidentiality agreements. Following Suncor's hostile C$4.3 billion ($3.23 billion) offer last month, Canadian Oil Sands adopted an extended poison pill to thwart the bid. Suncor is attempting to get the pill quashed and a hearing on the matter is due to take place before the provincial securities regulator on Thursday. A source familiar with the matter, who spoke off the record without authorization to discuss the matter publicly, ...

North Sea Crude-Forties steady, Asian fixtures in focus LONDON: North Sea Forties crude price differentials held steady on Tuesday, drawing support from indications that Asia could absorb more December-loading barrels. Forties is still valued at a discount to dated Brent, where it has traded since the start of October due to ample supply in the Atlantic Basin. A third fixture of a supertanker to take Forties to Asia in December has emerged, raising the chances that at least some of the North Sea's ...

Oil falls as spotlight returns to growing glut, dollar up LONDON/NEW YORK: Crude oil futures fell back towards $45 per barrel on Wednesday as the dollar gained and investor focus shifted back to a deep global supply glut. Brent was down 57 cents at $45.55 a barrel at 1554 GMT, having touched a low of $45.11. The benchmark hit its highest since Nov. 11 at $46.50 on Tuesday after Turkey shot down a Russian jet. It had risen for five consecutive days, its longest run ...

US crude stocks rise, gasoline inventories exceed expectations NEW YORK: US crude stocks rose less than expected last week, while gasoline and distillate inventories also increased, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1 million barrels in the last week, compared with analysts' expectations for an increase of 1.2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.744 million barrels, EIA said. Refinery crude runs rose by 304,000 barrels per day, EIA data ...

Rosneft CEO says calls for non-OPEC output cuts are 'strange' YEKATERINBURG: Igor Sechin, the chief executive of top Russian oil company Rosneft, on Wednesday described calls by OPEC members for non-OPEC members to cut oil output as "strange". Sechin said Rosneft was considering whether to take part in talks with the Organization of the Petroleum Exporting Countries but that no decision had been made. Copyright Reuters, 2015

Bulgaria says Russian gas supplies at normal levels SOFIA: Bulgaria's energy ministry said on Wednesday that Russian gas imports and gas which Moscow pipes through the Balkan country to Turkey, Greece and Macedonia were flowing normally at volumes in line with agreed levels. Russian gas exporter Gazprom said on Wednesday it was halting supplies to Ukraine until Kiev makes a prepayment for supplies and warned of a risk to gas piped to Europe via Ukraine. Bulgaria is almost completely dependent on Russian gas ...

Asia Fuel Oil-Cracks, spreads remain tight as bunker prices climb SINGAPORE: Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of reduced arbitrage volumes from the West next month even as the market remained quiet, traders said.The spread for the benchmark also remained tight, holding around a four-month high, at a discount of $2.75 - a further indication of possible lower arbitrage volumes, traders said."We don't see much arbitrage ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
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WeeklyNovember 23, 2015
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