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Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Tuesday following weak economic data from top energy consumers the United States and China, and as dealers await a key US Federal Reserve meeting. US benchmark West Texas Intermediate for October delivery fell 15 cents to $92.77, while Brent crude for November rose 14 cents to $98.02 in mid-morning trade. Brent's October contract expired Monday at $96.65, its lowest level since June 2012.Singapore's United Overseas Bank said "investors continued to fret over anaemic oil demand growth" after the release of US data on Monday. US industrial production unexpectedly fell in August by 0.1 percent, after six months of gains. Manufacturing output meanwhile fell 0.4 percent.The data added to worries after China reported over the weekend that industrial production stuttered in August, with growth dropping sharply to 6.9 percent, the slowest pace in more than five years.Analysts said investors were awaiting the highly anticipated ...


Russian crude oil exports seen down 6pc in Q4 MOSCOW: Exports of seaborne Russian Urals and ESPO crude oil blends were seen declining by 6.2 percent to 50.17 million tonnes in the last three months of the year from the previous quarter, traders said on Monday, citing a quarterly loading schedule.Russia has been cutting crude oil exports as it has increased production of oil products from its refineries.Traders also said that the Black Sea port of Novorossiisk is expected to load 7.4 million tonnes ...

Brent oil hits another 2-year low on demand fears LONDON: Global oil prices hit a fresh two-year low on Monday as weak Chinese economic data stoked concerns about the strength of world energy demand, dealers said.In early morning deals, Brent North Sea crude for delivery in October sank to $96.21 per barrel, the lowest level since July 2, 2012. The contract later stood at $96.73, down 38 cents from Friday's close.US benchmark West Texas Intermediate (WTI) for October lost 85 cents to $91.42 a ...

UK gas prices climb on undersupplied system LONDON: British prompt wholesale natural gas prices climbed on Monday morning as low imports and reduced domestic flows created a tight system.Gas prices for Monday delivery were up 7.08 percent to 48.40 pence per therm by 0813 GMT, having hit an intra-day high of 48.50 pence. Day-ahead gas for Tuesday delivery was up 6.22 percent at 47.85 pence.Britain's gas system was undersupplied by around 26 million cubic metres (mcm), with demand forecast at around 166 ...

Middle East crude excess supply, weak China outlook weigh on prices  SINGAPORE: DME Oman's premium to Dubai edged down in the Middle East crude market on Monday as excess supply and weak China economic outlook weighed on prices.Traders are awaiting Qatari al-Shaheen and condensate to commence trading in order to assess Asia's demand for November-loading cargoes.Sellers are pinning their hopes on recovering refining margins and a cold winter to absorb surplus oil although spot differentials for al-Shaheen were likely to remain in discounts amid the supply ...

Asia Pacific crude growing supply weighs SINGAPORE: The Asia-Pacific crude market stayed under supply pressure on Monday as growing regional production faced competition from excess West African barrels.Supply in the region is growing as Australia and Malaysia are marketing new grades, Balnaves and Kimanis, while Vietnam has excess Su Tu Den to sell in the November spot market.A narrow spread between Brent and Dubai, falling freight rates and spot differentials for West African cargoes have also kept the arbitrage window for ...

Russia's Gazprom Neft sticks to development plans after sanctions PRIRAZLOMNAYA OIL PLATFORM: Gazprom Neft, the oil arm of Russian state gas company Gazprom, will stick to its production plans at its Prirazlomnoye oil field in the Arctic despite being put under Western sanctions, First Deputy CEO Vadim Yakovlev said. "At the moment, we don't think that this will affect our long-term plans," he told reporters at the platform, located some 60 km (40 miles) away from the shore in the Pechora Sea.The oil field ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln