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CNPC gets nod for China-Russia gas pipeline design BEIJING: China National Petroleum Corp (CNPC) has received government approval for the design of the Chinese section of a giant pipeline that is due to ship $400 billion worth of Russian natural gas to China, the company said on Thursday. China and Russia signed in May a gas supply deal, securing the world's top energy user a major source of fuel and opening up a new market for Moscow as it risks losing European customers over the Ukraine crisis. According to initial design, the pipeline will start from Heihe city in the northeastern Heilongjiang province, running through provinces of Jilin, Inner Mongolia, Liaoning, Hebei, Tianjin Municipality, Shandong, Jiangsu to reach Shanghai. Construction of the Chinese section will start in the first half of next year and is slated to complete in 2018, it said. Russia will begin delivering gas to China from 2018, building up gradually to 38 billion cubic ...

US oil to test support at $86.25 SINGAPORE: US oil is expected to test $86.25 per barrel, as it has broken support at $88.29.The support was provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third of a three-wave cycle that developed from the June 20 high of $107.73.The next support will be at $86.25, the 50 percent level, a break below which will led to a further loss towards the 61.8 percent level at $84.21.A break ...

Brent comes off 27 month low, holds above $91 as dollar weakens SINGAPORE: Brent crude futures held steady above $91 a barrel on Thursday, after rebounding from a 27-month low hit in the previous session as the US dollar weakened on the possibility the Federal Reserve could hold off raising interest rates. Expectations that oil demand could increase towards the end of this month - even though US crude stocks increased more than expected last week - also helped to support prices. Minutes of the US Fed's ...

Japan LNG spot prices show first m/m increase in 6 months TOKYO: Liquefied natural gas (LNG) spot prices for Japanese buyers rose in September for the first time in six months, the country's trade ministry said on Thursday, as prices in the region increased ahead of expectations of higher demand as winter approaches. It was the first time that prices have risen since the government started releasing the data in April to add transparency to the market after the shutdown of all nuclear plants following the ...

Oil rebounds in Asia but prices expected to remain soft SINGAPORE: Oil prices bounced from multi-month lows in Asia on Thursday, lifted by an equities rally and a weaker dollar as minutes from the US Federal Reserve's latest policy meeting indicate it may keep interest rates at record lows longer then expected.US benchmark West Texas Intermediate (WTI) for November delivery was up 18 cents at $87.49 a barrel after hitting an 18-month low in New York on Wednesday.Brent crude for November advanced eight cents to ...

Middle East crude Dubai flips into premium on Chinaoil buys SINGAPORE: The Middle East crude market held firm on Wednesday as robust demand from Chinaoil flipped cash Dubai into a slight premium for the first time in two months, even as Brent crude futures hit a new more than two year low.A stronger Dubai has also depressed gasoil margins in Asia to the lowest in more than two months.Dubai crude trade heated up on the Platts window as Chinaoil stepped up purchases, snapping up 90 ...

Asia Pacific crude weak; Indonesia, Thailand seek Dec oil SINGAPORE: Asia-Pacific crude stayed weak on Wednesday as supply overhang and an open arbitrage window weighed on the market.Petral, the trading arm of Pertamina, re-issued a tender seeking sweet crude for December delivery, a trader said. In the tender which closes on Friday with validity until Monday, Petral was likely to purchase Nigerian Qua Iboe, he said. The company may have bought a Kikeh cargo in an earlier tender.Thailand's PTT also issued its monthly tender ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln