All
 

 

Just in:  

You are here: Home»Markets»Energy

Markets - Energy

Archive

China shuts two Sinopec pipelines on safety concerns BEIJING: Two short crude oil pipelines in China operated by Sinopec Group are shutting temporarily due to worries over safety, Chinese authorities said. Sinopec has been ordered to shut the 179-km Linyi-Cangzhou pipeline and a 40-km pipeline from the Tanggu oil depot to Dagang in Tianjin by Nov. 20, the State Administration of Work Safety said on its website late last week. Authorities said that unannounced inspections had found numerous problems, including "stress corrosion and fatigue damage". Sinopec said on Friday through its official social media account that the two pipelines had earlier been closed for repairs and that the work safety regulator had approved the shutdowns in September. However, it was unclear whether they had been reopened since then and would need to be closed again. Sinopec was not immediately available for comment on Monday. Refinery throughput in northern China had not been affected, the company said on Friday. ...


Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asia Monday but losses were limited by speculation that the OPEC cartel would be forced to cut output to prevent further big losses, analysts said.US benchmark West Texas Intermediate for December delivery fell 25 cents to $75.57 while Brent crude for January was down 31 cents at $79.10 in mid-morning trade. Crude was supported by "speculation that OPEC will put a floor on prices by curbing output now that Brent ...

Gjoea field outage cuts Norway's gas output by 4.3 mcm/d on Sunday OSLO: Norway's gas output was cut by 4.3 million cubic metres (mcm) per day on Sunday due to an outage at GDF Suez's Gjoea field, the country's gas system operator Gassco said.The outage at the field, caused by maintenance on a compressor, started at 2310 GMT on Friday and is now expected to last for 40 hours versus the previously estimated 18-20 hours, Gassco added.Gassco also said an outage on BP's Skarv field, cutting the ...

Iran oil minister slams producers for not cutting output DUBAI: Iran's oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output, a possible reference to Saudi Arabia as a Saudi official insisted the issue should be left to market forces."Certain countries had raised their production after the exit of several countries from the cycle of oil production," Iran's Bijan Zanganeh said, referring to international sanctions that have forced his country to cut its ...

Iraq's southern oil output averaging about 3mn bpd BAGHDAD: Iraq's current southern oil output and export levels, given by the country's oil minister on Saturday, indicate that fighting and unrest has not derailed an expansion of supplies from OPEC's second-largest producer.The country's oil supplies were held back by decades of war and sanctions. It has been expanding oil production in the south since Western companies signed a series of service contracts with Baghdad in 2010, and boosted export capacity.Iraq's oil exports from its ...

Iran oil min says hard to return to old prices, urges market support DUBAI: Iran's oil minister said on Saturday it was hard to return to old crude prices but oil producers should do what they can to support the market, the Iranian Oil Ministry's news agency Shana reported."It is difficult to go back to the old (oil) prices but we should try to fix the prices as much as the current market situation allows," Bijan Zanganeh was quoted as saying after meeting Venezuelan Foreign Minister Rafael Ramirez, ...

Gjoea field outage cuts Norway's gas output by 8.8 mcm/d OSLO: Norway's gas output was cut by 8.8 million cubic metres (mcm) per day on Saturday due to an outage at GDF Suez' Gjoea field, the country's gas system operator Gassco said.The outage, caused by maintenance on a compressor, started at 2310 GMT on Thursday and is expected to last for 18-20 hours, Gassco added.Gassco also said an outage on BP's Skarv field, cutting the country's gas output by 10.9 mcm/day, was extended until Monday. ...


 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln