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Asia-Pacific Crude-NWS condensate supply to rise in January  SINGAPORE: Condensate came under pressure in the Asia-Pacific crude market on Tuesday as an additional North West Shelf (NWS) cargo was added to the January programme.BHP has a cargo loading on Jan. 28-Feb. 1, traders said, inaddition to four cargoes to be marketed by Woodside, BP, Petro-Diamond and Chevron.A rebound in naphtha cracks would usually support condensate values, but there is "still too much oil," said a trader. A second trader said NWSC condensate differentials were likely to hold steady from the previous month.Russian ESPO also weakened. Surgutneftegas sold an ESPO cargo for Jan. 5-10 loading via a tender at $1.60-$1.65 a barrel above Dubai quotes to an unknown buyer, traders said. The differential was lower than the $1.85-$1.90 premium fetched in Surgut's previous tender.Separately, Sakhalin Energy offered 730,000 barrels of Vityaz for loading on Jan. 29-Feb. 5 in a tender to close on Nov. 20. Bids will remain valid ...


Brent rebounds towards $80 as OPEC rhetoric heats up LONDON: Brent crude oil reversed early losses to rise back towards $80 a barrel on Tuesday, recovering from last week's four-year low as speculation increased that OPEC could cut output at its meeting on Nov. 27.Talk about OPEC's response to a 30 percent drop in global oil prices since late-June intensified this week after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting ...

Saudi crude oil exports edge up to 6.72mn bpd in Sept DUBAI: OPEC heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day (bpd) while volumes used by domestic refineries remained high, official data showed on Tuesday.The world's top oil exporter shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July's 6.989 million, data published by the Joint Organisations Data Initiative (JODI) showed.Production rose to 9.704 million in September from 9.597 million ...

Brent falls near $79 as rhetoric heats up before OPEC meeting LONDON: Brent crude slipped towards $79 a barrel on Tuesday, falling for the sixth session out of seven, as oil prices struggled to find a floor ahead of next week's critical OPEC meeting. Speculation about OPEC's response to a 30 percent drop in global oil prices since late-June intensified after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting is being planned "very ...

Brent rises towards $80 as rhetoric heats up before OPEC meeting LONDON: Brent crude reversed early losses to rise back towards $80 a barrel on Tuesday, recovering from a four-year low hit last week as oil prices tried to find a floor ahead of next week's critical OPEC meeting. Speculation about OPEC's response to a 30 percent drop in global oil prices since late-June intensified after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia. A special ...

Ukraine may make prepayment for Russian gas before Dec 1 KIEV: Ukrainian Energy Minister Yuri Prodan said on Tuesday Ukraine may make a pre-payment to Russia for gas before Dec. 1, reiterating that the country expected to buy up to 1.5 billion cubic metres (bcm) of gas from Russia by the end of the year."Purchases will start once the cold sets in. It's possible we'll start (pre-payments) before Dec. 1 ... the situation is not yet critical," Prodan told journalists.Copyright Reuters, 2014

Oil prices down in Asian trade SINGAPORE: Oil prices extended their losses in Asia Tuesday after Japan's economy slumped into recession, while prospects for an OPEC output cut dimmed, analysts said. US benchmark West Texas Intermediate for December delivery fell 37 cents to $75.27 while Brent crude for January was down 37 cents at $78.94 in afternoon trade.Prices are facing pressure from "weak Japanese economic data and increasing scepticism that OPEC will be able to agree to rein in oil production", ...


 



 
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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