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Oil prices slip on profit taking, before key data LONDON: Oil prices fell Friday, as many traders cashed in some of their bumper gains from the previous day, and eagerly awaited crucial non-farm payrolls numbers in the United States. Brent North Sea crude for delivery in November retreated 72 cents to $111.86 a barrel in midday trade in London. New York's main contract, West Texas Intermediate (WTI) or light sweet crude for November, dipped 79 cents to $90.92 a barrel. "The main focus for today will remain on the release of the crucial US employment data that could set the tone for the trading session," said Sucden Financial Research analyst Myrto Sokou. The US Labor Department will release figures for September job creation and unemployment at 1230 GMT, with analysts expecting little change from August's unimpressive numbers. The United States is the world's largest oil consumer, and any downside to its economy is likely to weigh on crude prices. Crude futures spiked on Thursday, with ...


South Korea KNOC to import 100,000 bbl gasoline for Oct  SINGAPORE: State-run Korea National Oil Corp (KNOC) is seeking 100,000 barrels of gasoline imports for October delivery as part of its plan to supply the fuel to domestic retail stations at competitive prices, a spokesman said on Friday.   KNOC is likely to finalise purchase details of the cargo prices in late October. It may seek another 100,000 barrels of the motor fuel at a later date, but the exact schedule has not been decided.   With South Korea, ...

Kuwait lowers offers to $28/T  SINGAPORE: Kuwait Petroleum Corp (KPC) may be close to sealing its naphtha December 2012 to November 2013 contracts after it reduced offers by about $2 to $28 a tonne above Middle East quotes on a free-on-board (FOB) basis against bids of around $26.   KPC made the reduction for the full-range naphtha grade on Thursday at its talks with Asian buyers in London, traders said.   The highest premium KPC has ever fetched for a one-year contract was for ...

India SINGAPORE: India's second largest state-run refiner, Bharat Petroleum Corp Ltd (BPCL), bought 1 million barrels of sweet crude in a tender, bringing its total spot volume for November loading to 3 million barrels, traders said on Friday.   The refiner bought 1 million barrels of Nigerian Agbami from Chevron to load on November 21-30, they said. The price was not available.   BPCL previously bought 1 million barrels of Nemba from Chevron and the same volume of Mellitah condensate ...

Eni discovers gas and condensate in Barents Sea  OSLO: Eni has discovered gas and condensate northwest of the Snoehvit field in the Barents Sea, the Norwegian Petroleum Directorate said on Friday.   The preliminary estimate is that the find contains between five and seven million standard cubic metres of recoverable oil equivalents.   Licence holders in production licence 533 are operator Eni with 40 percent, with partners Lundin, RWE Dea and Det Norske holding 20 percent each.   Det Norske said in a separate statement that the gas discovery ...

Shell declares force majeure on fuel in South Africa  JOHANNESBURG: Shell has declared force majeure on fuel deliveries in South Africa's economic hub of Gauteng province, which includes Johannesburg and Pretoria, due to a two-week strike by more than 20,000 truck drivers, the company said on Friday.   "There is fuel available across the country so the issue is not fuel supply but the challenge is delivering it safely to our retail sites," the company said in an emailed response to questions.   Force majeure refers to a ...

Naphtha SINGAPORE: Naphtha's prompt October East-West (EW) spread, the differential between Asian and European prices, fell to a near six-month low on Friday as Asian supplies shrank due to strong gasoline demand in Europe.   The recent strength in gasoline prices in the West prompted the diversion of naphtha towards gasoline blending, leaving fewer cargoes for export towards Asia.   Naphtha can be reformed into gasoline.   Fuel oil's inter-month premiums were largely steady. Physical supply was seen ample on expectations for ...


 



 
Index Closing Chg%
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln