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Asia Pacific crude weaker; less West African cargoes seen SINGAPORE: Differentials in the Asia-Pacific crude market continued to slide on Thursday amid ample supply and weak demand, but may find some support from less attractive economics for bringing West African cargoes to the region, traders said.A large inflow of arbitrage cargoes, particularly from West Africa, has added to a glut of crude in Asia. But with freight rates on the West Africa-to-China route rising, the trade now looks less economical."We're not so sure the October-programme will go as fast as last month," a Singapore-based trader said, referring to Angolan grades."Maybe buyers are looking at some of the regional grades instead," he said.Brent's narrowing premium to Dubai crude also lent support to Brent-linked regional grades. Brent-Dubai Exchange of Futures for Swaps (EFS) narrowed 8 cents to $1.05 a barrel on Thursday, near its lowest in more than four years.Vietnam's PV Oil sold two 300,000-barrel cargoes of Ruby crude in a ...


ADNOC offers condensate ahead of refinery maintenance SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has offered condensate for October-loading in a rare move ahead of a planned shut-down of refining units for scheduled maintenance, trade sources said on Thursday.The two condensate splitters, operated by Abu Dhabi Oil Refining Company (Takreer), are scheduled to shut down between October and January, the sources said. The units at the Ruwais refinery have a capacity of 140,000 barrels per day (bpd) each and they process condensate ...

Oil prices down as supply fears fade` SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down 27 cents at $93.18 while Brent for October eased 26 cents to $102.02 in afternoon trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev ...

Brent drops below $102, near 14-month low, on China concerns SINGAPORE: Brent slipped below $102 a barrel on Thursday, near a 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the sector slowed to a three-month low in August, adding to concerns about softness in the Chinese economy that could depress oil use in the world's second-largest oil consumer."This is a figure which indicates that growth ...

Brent edges down to $102, near 14-month low, on China concerns SINGAPORE: Brent edged down toward $102 a barrel on Thursday, near the 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the sector slowed to a three-month low in August, adding to concerns about softness in the Chinese economy that could depress oil use in the world's second-largest oil consumer. "This is a figure which indicates ...

Oil prices down on fading supply fears SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down six cents at $93.39 while Brent for October eased 24 cents to $102.04 in late-morning trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev ...

Oil prices advance on signs of stronger US demand NEW YORK: Global oil prices rebounded on Wednesday from multi-month lows after a surprisingly big drop in US oil inventories.US benchmark West Texas Intermediate for September delivery jumped $1.59 to $96.07 a barrel on the New York Mercantile Exchange, recovering from a seven-month low hit Tuesday.European benchmark Brent oil for October delivery gained 72 cents to close at $102.28 a barrel in London, rallying from the 14-month low the day before."Crude stocks dropped a lot ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln