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Asia-Pacific Crude-Premiums for Vietnam grades rise SINGAPORE: Spot premiums for Vietnamese grades rose in the Asia-Pacific crude market on tighter supply as several cargoes had been diverted to meet domestic demand.PV Oil awarded a tender to sell 600,000 barrels of Bach Ho crude to Glencore at $1.30-$1.50 a barrel above dated Brent for May 15-21 loading, traders said, up from a premium of about $1 in a previous trade for this grade.PV Oil has also sold two 300,000-barrel Ruby crude cargoes to its subsidiary in Singapore and Japanese refiner Taiyo Oil at about $2 a barrel above dated Brent, up about 50 cents from the previous month. These cargoes will load on May 5-12 and 18-25. The deals could not be independently verified.For Russian grades, exports from the Pacific port of Kozmino will hold steady at 27 cargoes in May, same as the record level reached in April, a preliminary loading programme obtained by Reuters showed.Record ...


Middle East Crude-DME Oman firms slightly on Yemen crisis SINGAPORE: DME Oman firmed slightly in the Middle East crude market on Thursday after global prices surged on growing conflict in Yemen.Saudi Arabia and Gulf region allies launched military operations including air strikes in Yemen, officials said, to counter Iran-allied forces besieging the southern city of Aden where the US-backed Yemeni president had taken refuge.There is a concern that the crisis could escalate, exacerbating wider sectarian conflict in the Middle East.Trade sources said there was ...

Oil prices surge after Saudi air strikes in Yemen LONDON: Brent crude oil soared more than 4 percent towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, which sits on a key shipping passage between Europe and the Arab Gulf.The air strikes against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of Middle East oil shipments.Brent futures were up $2.32 at $58.80 by 1120 ...

South Africa's Eskom to cut 2,000 MW of power JOHANNESBURG: South Africa's Eskom will implement rolling power cuts from 1000 GMT to 2000 GMT on Wednesday, the power utility said on its official Twitter page.The state-owned power utility said it would cut 2,000 megawatts of electricity from the strained grid.Africa's most advanced economy is in the midst of its worst electricity crisis since 2008 and Eskom implements frequent power cuts to prevent the national grid from being overwhelmed.Copyright Reuters, 2015

Oil extends rise in Asia on Yemen crisis SINGAPORE: Oil prices jumped in Asia on Thursday after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in the Middle East.US benchmark West Texas Intermediate (WTI) for May delivery surged $1.90 to $51.11 while Brent crude for May rose $1.95 to $58.43 in afternoon trade.WTI advanced $1.70 while Brent gained $1.37 on Wednesday following news that Yemen President Abedrabbo ...

India's power plant operators surge; govt plans to boost LNG imports MUMBAI: Shares of India companies owning gas-operated power plants rose after the government said it will boost imports of liquefied natural gas (LNG) to improve electricity generation and revive plants in a bid to fuel economic expansion.Torrent Power Ltd jumped 7.1 percent, GVK Power & Infrastructure Ltd rose 3.2 percent, while Lanco Infratech Ltd rose 4.4 percent."Government will provide subsidy directly to the distribution companies for purchasing gas-based power. This will help the gas-based power ...

WEST Africa Crude-Angolan loadings rise further in May LONDON: Angolan crude oil loadings look more ample in May, adding to a well supplied market and potentially weighing on differentials, traders said on Wednesday. The loading programme for Saturno crude emerged on Wednesday after being delayed, bringing total exports in May to about 1.80 million barrels per day, up from April. "Refining margins look good on paper, but maintenance is taking a bit of demand away," said a trader. Some Angolan grades have sold ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln