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Statoil's oil find in North Sea bigger than expected OSLO: An oil find by Statoil in the Norwegian sector of the North Sea is much bigger than earlier thought and the find could be tied into the Grane field, the firm said in a statement on Tuesday. The discovery, first proven in 1992, contains between 30 and 80 million barrels of recoverable oil, well above previous estimates for about 6 million barrels, the Norwegian Petroleum Directorate added. The find is 7 kilometres north of the Grane field and near Statoil's Grane F oil discovery made in 2013. Statoil owns 57 percent of the production licence, state holding firm Petoro has 30 percent and ExxonMobil has 13 percent.Copyright Reuters, 2014


Oil prices mixed as caution returns SINGAPORE: Oil prices were mixed in Asian trade Tuesday as caution returned after a weak rally spurred by upbeat industrial production data from China, the world's top energy consuming nation, analysts said.US benchmark West Texas Intermediate for November delivery advanced 30 cents to $83.01 a barrel in afternoon trade, but Brent crude for December reversed earlier gains and fell three cents to $85.37.Daniel Ang, investment analyst with Phillip Futures in Singapore, said investors were cheered ...

Brent extends gains at above $85 as China oil demand rises SINGAPORE: Brent edged up on Tuesday, holding above $85 a barrel as robust China oil demand supported prices, although gains were capped by oversupply and lingering fears of a weak global economy. Implied oil demand at the world's largest energy consumer jumped 6.2 percent in September from August to 10.3 mln barrels per day, the highest since February, as crude throughput and imports reached their second-highest level this year amid a continued stockbuild. Front-month Brent ...

China Sept crude oil throughput climbs 9.1pc on year BEIJING: China's refinery throughput rose 9.1 percent in September from a year earlier to 42.0 million tonnes, or 10.22 million barrels per day (bpd), data from the National Bureau of Statistics showed on Tuesday. The daily run rate is up 4.8 percent compared with the 9.75 million bpd recorded in August.Copyright Reuters, 2014

Oil prices up on China industrial output data SINGAPORE: Oil prices rose in Asian trade Tuesday, buoyed by strong industrial production data from China, the world's top energy consuming nation, analysts said.US benchmark West Texas Intermediate for November delivery advanced 17 cents to $82.88 a barrel in late-morning trade and Brent crude for December added four cents to $84.44.Daniel Ang, investment analyst with Phillip Futures in Singapore, said investors were cheered after China said industrial production, which measures output at factories, workshops and ...

Oil prices dip after brief recovery LONDON: Oil prices fell on Monday after a brief rebound, with the market weighed down by weak demand growth in an oversupplied market.US benchmark West Texas Intermediate for delivery in November slipped five cents to $82.70 a barrel.Brent North Sea crude for December lost 48 cents to stand at $85.68 a barrel in London midday deals.Both contracts had risen at the end of last week as investors snapped up bargains after prices had tanked to ...

Middle East crude slumps as sellers depress market SINGAPORE: December differentials for DME Oman and Dubai slumped into discounts in the Middle East crude market on Monday despite continued buying by Chinaoil on the Platts window."Chinaoil didn't appear on the bid side, it only came out to lift the offers," a trader with a Western firm said."So the sellers offered it down."Shell and Gunvor will deliver an Upper Zakum cargo each to Chinaoil while Unipec sold an Oman cargo following Monday's trade.The market ...


 



 
IndexClosingChg%
ArrowDJIA 16,399.67 0.12
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ArrowS&P 1,904.01 0.91
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ArrowDAX 8,717.76 1.50
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ArrowNikkei 15,111.23 3.98
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ArrowSensex 26,429.85 1.23





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln