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Russian March oil output hits new post-Soviet high MOSCOW: Russian oil production hit the latest in a line of post-Soviet highs in March, feeding higher exports that added to a global glut keeping crude prices low and hurting its economy.The big Gulf producers of OPEC have opted for holding on to market share, saying they will only cut output to raise oil prices if others - like Russia - do so too.Russian officials say it is hard to significantly adjust output up or down due to the problems of mothballing wells in a harsh climate.The twin state energy giants Gazprom and Rosneft brought Russia's oil output to a post-Soviet era record of 10.71 million barrels per day (bpd) in March, Energy Ministry data showed on Thursday.That topped December's high of 10.67 million bpd.The data includes output for crude oil and gas condensate which reached 45.275 million tonnes in March, versus 40.696 million the month before.Total oil exports via ...


Middle East Crude-Chinaoil buys 3 Upper Zakum in 2 days SINGAPORE: Chinaoil continued its purchases in the Middle East crude market for a second day, a sign that it could embark on a buying spree this month, traders said on Thursday.The trading arm of PetroChina took delivery of a third Upper Zakum crude cargo on Thursday from Unipec, the trading arm of Asia's largest refiner Sinopec, in deals revealed during pricing agency Platts' market assessment process, traders said.A day ago, Chinaoil bought one cargo each ...

Oil eases below $57 as Iran, big powers negotiate LONDON: Oil prices slipped on Thursday as officials from the big global powers remained locked in nuclear talks with Iran that, if successful, could allow the Islamic state to release more crude oil onto world markets.Negotiations on Tehran's disputed nuclear programme have stretched well beyond a self-imposed March 31 deadline, with diplomats saying the chances of a preliminary accord in the next few hours are finely balanced.Tehran is hoping for a deal that will end ...

Asia-Pacific Crude-ESPO rebounds but oversupply persists SINGAPORE: Spot premium for Russian ESPO Blend rebounded in the Asia-Pacific crude market on Thursday amid robust demand from refiners.Rosneft sold two ESPO cargoes loading May 25-28 and May 29-June 1 to trading firms at $2.25-$2.50 a barrel above Dubai quotes, with the cross-month cargo fetching the higher premium, traders said.The price level was at the higher end of the range of previous May-loading cargoes. The deals could not be independently verified.Crude differentials continue to ...

Oil retreats from large jump as focus returns to Iran talks SINGAPORE: Oil futures fell on Thursday, retreating from big gains in the previous session, as the prospect that any deal in nuclear talks with Tehran and a possible increase in its crude exports helped to keep pressure on prices.Major powers and Iran have stretched talks on Tehran's nuclear programme into a second day past an end-March deadline, with diplomats saying the chances for a preliminary deal were balanced between success and collapse.Both Brent and U.S ...

Oil prices down in thin Asian trade SINGAPORE: Oil prices fell in thin pre-holiday trade in Asia on Thursday after a mixed US stockpiles report, while talks over crude producer Iran's nuclear programme dragged on, analysts said.US benchmark West Texas Intermediate fell 40 cents to $49.69 while Brent slipped 32 cents to $56.78 in afternoon trade."Prices have come off with thin volumes ahead of the holiday tomorrow," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.Financial markets in major ...

Oil jumps after US output drop as Iran talks drag NEW YORK: Oil jumped as much as 5 percent on Wednesday, snapping a three-session losing streak, as US crude output fell for the first time in two months and the government announced a smaller-than-feared rise in weekly stockpiles.The market's focus on Iran nuclear talks, which had depressed prices since Friday, also shifted as the dollar eased. A weaker dollar makes commodities denominated in the greenback, such as oil, more attractive to holders of other currencies.Crude ...


 



 
Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
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Arrow DAX 11,810.85 0.74
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Arrow Sensex 27,437.94 1.07





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln