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Oil prices down in Asia SINGAPORE: Oil prices fell in Asia Tuesday, with the possible return of Iranian crude to the global market stoking further concerns over a supply glut, analysts said.Iran and major western powers are racing to agree a deal by June 30 that would see Tehran open up its nuclear programme to allay concerns it is seeking atomic weapons, in return for the West lifting punishing economic sanctions.Any deal could result in Iranian crude returning to the world market, piling up on the current oversupply, which has sent prices plunging from more than $100 a barrel in June last year.US benchmark West Texas Intermediate for August delivery was down 17 cents at $60.21 a barrel in late-morning Asian trade, and Brent crude for August dropped 14 cents to $63.20."The key issue is about Iranian crude possibly coming back to the market," said Daniel Ang, an investment analyst with Phillip Futures in Singapore.He ...


Oil down on gasoline buildup fear; Greek debt worry NEW YORK: Crude oil futures fell for a second straight session on Monday on concerns that U.S. demand for gasoline may fade after a strong stretch and on worries about the potential fallout from the Greek debt crisis.The slide came despite data from market intelligence firm Genscape suggesting a big draw on the week on stockpiles at the Cushing, Oklahoma delivery point for U.S. crude futures.Gasoline fell almost 2 percent, retreating from last week's near ...

Japan JOGMEC buys 44,000 tonnes LPG for national reserves TOKYO: State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Monday bought liquefied petroleum gas (LPG) via a tender to store in its national reserves, a trade ministry official said on Monday.JOGMEC was seeking 44,000 tonnes of propane, which is to be delivered to the stockpiling base in Namikata in Ehime prefecture by Aug. 10.The ministry official did not identify the winning bidder.Japan, which in April stored 952,000 tonnes of LPG at five national ...

Oil falls to $63, ample supplies and Greece weigh LONDON: Oil fell to around $63 a barrel on Friday as concern over Greece and a forecast that US shale oil output would keep growing this year countered signs of a pickup in demand. Greece has been less of a driver for oil than other markets such as equities, but analysts said the situation represented a bearish risk heading into the weekend. Euro zone leaders will hold an emergency summit on Monday to try to ...

Kenya seeks over 670,000 tonnes oil products for July-August SINGAPORE: Kenya's oil importers are seeking more than 670,000 tonnes of oil products for delivery over July-August, continuing its persistently high imports during the summer, industry sources said.Kenya has been importing record volumes of oil products as its economy gathers steam, soaking up some of Asia's excess supply and helping put a floor under refining margins.Industrial expansion and a growing fleet of automobiles in a region that lacks refining capacity have stoked East African appetite ...

Saudi Arabia's April crude oil exports down slightly KHOBAR: Saudi Arabia's April crude exports fell slightly to 7.737 million barrels per day (bpd) from 7.898 million bpd in March, figures supplied by Riyadh to the Joint Organisations Data Initiative (JODI) showed.Output from the world's largest oil exporter inched up to 10.308 million bpd from 10.294 million bpd, according to JODI.Copyright Reuters, 2015

Gazprom inks plan for new gas pipeline to Germany SAINT PETERSBURG: Russian gas giant Gazprom on Thursday agreed a plan with Shell, E.ON and OMV aimed at building a new gas pipeline to Germany, the companies said in a statement. In the memorandum of understanding, Germany's E.ON, Austria's OMV and Anglo-Dutch Shell would join up to construct the new route under the Baltic Sea from Russia with a capacity of 55 billion cubic metres per year, the statement said.The project -- for which no ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln