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CALGARY: Light synthetic crude from the oil sands hit a nine-month high on Tuesday as traders looked ahead to planned maintenance at the 286,000 barrel per day Syncrude project in northern Alberta.Synthetic crude for May delivery traded as high as $4.25 per barrel above the West Texas Intermediate benchmark, the strongest level since early July, before easing to last trade at $3.95 per barrel above WTI. On Monday synthetic crude for May delivery settled at $3.25 per barrel above the benchmark, according to Shorcan Energy brokers. Two traders in Calgary said synthetic prices were rising in anticipation of maintenance at the Syncrude project that is due to start during the second quarter. Canadian Oil Sands, which owns the largest share in Syncrude, said earlier this year it would start maintenance on a major bitumen upgrader known as Coker 8-2 during the second quarter. A spokesman for Canadian Oil Sands said ...

Venezuela sees 2.3m bbl for open market in April HOUSTON: Venezuela's state-run PDVSA is offering at least 2.3 million barrels of crude, ultra low-sulfur diesel (ULSD) and jet fuel on the open market for delivery in April from its 187,000 bpd Puerto la Cruz refinery and other terminals located in eastern Venezuela, an internal document seen by Reuters says. The company has ramped up tenders in recent weeks amid a bigger need for cash and decreasing domestic fuel demand because of ongoing protests against ...
Oil prices surge on Nigeria supply worries NEW YORK: Oil prices rose solidly on Thursday for a second day running amid worries about curtailed supplies from Nigeria and more signs of strength in the US economy.New York's main contract, West Texas Intermediate (WTI) for delivery in May, rose $1.02 from Wednesday to $101.28 a barrel.Brent North Sea crude for May added 80 cents to stand at $107.83 a barrel in London trade.The gains came after Shell declared force majeure on deliveries of ...
Brent rises on Russia risk, Nigeria, Libya supply concerns NEW YORK: Brent crude oil futures rose on Tuesday on renewed geopolitical risk over Russia and supply disruptions in Nigeria and Libya, while US crude was pressured by a stronger US dollar. Major industrialized nations warned Moscow of tougher economic sanctions Monday if it goes beyond the seizure of Crimea. On Tuesday, US President Barack Obama said in a speech at The Hague that Russia's annexation of the Black Sea region was not a "done ...
US oil prices edge higher as key shipping route shut NEW YORK: US crude prices Monday edged higher after traffic was halted on a key petroleum-industry waterway in Houston due to an oil spill.US benchmark West Texas Intermediate for May delivery rose 14 cents to $99.60 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for May delivery slipped 11 cents to $106.81 a barrel on the Intercontinental Exchange in London.Investors were eyeing the shutdown of the Houston Ship Channel after a weekend ...
Brent crude falls on weak China data in volatile trading NEW YORK: Brent crude oil fell and US crude edged slightly higher in chopping trading on Monday as lackluster manufacturing data from the world's largest oil consumer was balanced by supply concerns over the Ukraine crisis and turmoil in Libya. China's manufacturing activity shrank in March, a preliminary private survey showed, pointing to slowing demand in the world's biggest energy consumer and adding to a string of weak indicators this year that have reinforced concerns ...
Exxon says Baytown refinery output cuts HOUSTON: Exxon Mobil Corp. said on Monday it has cut production at its 560,500-barrel per day (bpd) refinery in Baytown, Texas, as crude oil tankers couldn't supply the plant due to the closure on Saturday of the Houston Ship Channel. Exxon expects further cuts in production by mid-week due to the channel's closure, said company spokesman Nicolas Scinta. The company said it still expects to meet its contractual commitments.Copyright Reuters, 2014 ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln