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Oil prices up in Asia as Japanese stocks soar SINGAPORE: Oil prices rose in Asia on Monday, buoyed by strong Japanese equities as the market recovered from a downbeat US jobs report, analysts said.New York's main contract, light sweet crude for delivery in May added 21 cents to $92.91 a barrel and Brent North Sea crude for May delivery increased 45 cents to $104.57 in afternoon trade."The oil market is moving in sync with the Japanese stock market. Oil is also recovering from the selling that came after the US jobs report," Victor Shum, managing director at IHS Purvin and Gertz in Singapore, told AFP.Tokyo stocks soared 2.80 percent Monday as the yen plunged further following the Bank of Japan's sweeping monetary easing last week.Investors are cheering the weakening yen and its obvious impact on future corporate earnings, market watchers said.The BoJ on Thursday embarked on a new era of huge spending by releasing a flood of easy money, ...


Brent rises towards $105, BoJ supports; China data eyed CHENNAI: Brent crude rose towards $105 per barrel on Monday as Japan's ambitious plan to stimulate the world's third largest economy is expected to enhance liquidity in the markets, although weak US jobs data kept a lid on gains.Oil prices are expected to trade in a tight range this week ahead of a spate of economic data from China that will throw light on the pace of recovery in the world's second-biggest oil consumer and ...

Sinopec to build China's biggest coal-to-gas project BEIJING: China's state energy giant Sinopec Group envisages investing 70 billion yuan ($11.3 billion) to build the country's largest coal-to-gas project in 8-10 years to meet a rising demand for natural gas, a newspaper said on Sunday.Coal-to-gas production facilities in Zhundong in China's northwestern region of Xinjiang will have annual production capacity of 8 billion cubic metres of gas (bcm), the Xinjiang Daily said, citing Sinopec Xinjiang Energy Chemical Co Ltd, a unit of Sinopec ...

South Sudan restarts oil production THAR JATH: South Sudan restarted oil production on Saturday, ending a bitter 15-month row with former civil war foe Sudan and marking a major breakthrough in relations after bloody border clashes last year."The oil is now flowing," South Sudan oil minister Stephen Dhieu Dau shouted as he flicked a switch to restart production at a ceremony in the Thar Jath field in Unity state.Sudan and South Sudan came close to a return to all-out conflict ...

Oil falls to five-month low after US jobs data LONDON: Brent crude oil fell to a five-month low near $105 per barrel on Friday as bleak US jobs data and bulging inventories dimmed the outlook for economic growth and fuel demand. US employers hired at the slowest pace in nine months in March, jobs data showed, a sign that Washington's austerity drive could be stealing momentum from the economy. The US economy added just 88,000 jobs last month and the jobless rate ticked a ...

PGE scraps $3.6bn Opole project WARSAW: Poland's top utility PGE has scrapped plans to build coal-fired power units worth $3.6 billion at a plant near the southwestern city of Opole because of weakening demand and its effect on electricity prices, it said on Friday. Earlier this week Reuters reported that PGE's investment committee recommended pulling out of the plans to build two 900-megawatt units at Opole. "Changes on the energy market and the macroeconomic environment have limited the economic effectiveness ...

Oil prices mixed in Asia ahead of US jobs data SINGAPORE: Oil prices were mixed in Asia on Friday as traders waited cautiously for the release of US jobs data for March later in the day, analysts said.New York's main contract, West Texas Intermediate light sweet crude for delivery in May, shed 13 cents to $93.13 a barrel while Brent North Sea crude for May increased seven cents to $106.41 in the afternoon.Oil prices had fallen in New York on Thursday in the wake of ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln