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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 and as lighting demand rises on a reduction of daylight hours in the country due to seasonal changes.With supply flows at about 158.6 million cubic metres (mcm) per day on Thursday and demand expected to be about 165.9 mcm, the system was 7.3 mcm undersupplied, National Grid data showed.Norwegian imports via Langeled were slightly down to 15 mcm/day from 19 mcm/day, analysts at Thomson Reuters Point Carbon said.Britain has six nuclear reactors offline with a ...


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 ...

Oil slips towards $102 on ample supply LONDON: Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid. Oil supply is expected to exceed demand this year, analysts forecast, and crude oil benchmarks on both sides of the Atlantic Basin are on track to post a second monthly decline. "It looks like there is crude everywhere," said Tony Nunan, a risk manager at Mitsubishi Corp. "There's just too much ...

Preparations for Rosneft's privatisation under way MOSCOW: Russia's Economy Minister said on Tuesday that preparations to sell a part of the state's stake in Rosneft, the world's top oil producer by output, are under way and it could be sold in two tranches, RIA Novosti news agency reported. The Russian government has said it plans to sell 19.5 percent of Rosneft. Russia set out privatisation plans covering a number of companies in 2010, aiming to boost state coffers and improve corporate ...


 



 
IndexClosingChg%
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ArrowS&P 2,000.12 0.01
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ArrowDAX 9,569.71 0.19
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ArrowH.Seng 24,918.75 0.62
ArrowSensex 26,560.15 0.44





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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 25, 2014
Reserves $13.925 bln