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Brazil's gasoline, diesel import deficit to rise in 2014: ANP SAO PAULO: Brazil's gasoline and diesel-fuel trade deficit will rise this year compared with 2013, the head of Brazil's petroleum regulator ANP said on Monday, as demand outstrips the capacity of the country's refiners.Brazil's diesel deficit will likely rise to $9 billion and its gasoline deficit to $2.5 billion in 2014, Magda Chambriard, the ANP's director general, said at an event in Sao Paulo.In the January-November period of 2013, the diesel deficit was $7 billion and the gasoline deficit nearly $2 billion, Chambriard said, noting she did not have full 2013 numbers.The predicted rise in the deficit is based on an expected 4 percent increase in fuel demand in Brazil in 2014, Chambriard said. Brazilian fuel demand has been growing at a rate at least two percentage points above the expansion of gross domestic product for several years.That expansion has outstripped the capacity of the 12 domestic refineries of Brazil's ...

Oil prices drop after Ukraine's Crimea opts for Russia NEW YORK: Oil prices fell modestly Monday as markets downplayed fears of disruptions to Western European energy supplies after Crimea voted in a disputed referendum to leave Ukraine and join Russia.New York's main contract, West Texas Intermediate for delivery in April, finished trading at $98.08 a barrel, a loss of 81 cents from Friday's close.Brent North Sea crude for May delivery slid $1.97 to $106.24 a barrel in London trade, its lowest level since early ...
Chesapeake eyes spin-off of oilfield services unit WASHINGTON: Chesapeake Energy, the second-largest US natural-gas producer, said Monday it has notified regulators of a plan to spin off its oilfield-services subsidiary.The wholly owned unit of the struggling energy company, Chesapeake Oilfield Operating (COO), would have an initial public offering on the New York Stock Exchange, according to the preliminary information Chesapeake filed with the US Securities and Exchange Commission.Immediately before the completion of the potential spin-off, Chesapeake said in a statement, the unit ...
Chevron cuts production outlook, raises oil price view NEW YORK: Chevron Corp, the second-largest U.S. oil company, cut its 2017 production forecast on Tuesday by 6 percent, citing project delays and asset sales, while saying high prices have pushed its new baseline for oil to north of $100 a barrel.The company, like many of its peers, has seen mixed results from heavy spending to lift oil and natural gas production, and shareholders in the sector are pushing for more cost discipline.Chevron trimmed its ...
Oil prices drop after weak Chinese trade data WASHINGTON: Global oil prices fell on Monday as weak Chinese trade data stoked concerns over demand in the world's second largest economy.New York's main contract, West Texas Intermediate (WTI) for delivery in April, sank $1.46 cents to $101.12 a barrel.And in London Brent North Sea crude for April fell 92 cents to stand at $108.08 a barrel in London deals."The sharp decline in Chinese exports in February is fueling fears that the global economy could ...
Petrobras on target to print multi-billion dollar bond NEW YORK: Brazilian oil company Petrobras is offering investors a new issue concession of around 30-35bp on its new multi-billion dollar, six-part bond offering expected to price later on Monday. Orders for the transaction have already reached USD12bn in what could be biggest ever from a corporate borrower in the region if it surpasses the company's record-breaking USD11bn six-tranche transaction from last May. Each year Petrobras has broken new ground in terms of size, and ...
US natgas futures end 1 pct lower; little changed for the week NEW YORK: US natural gas futures eased about 1 percent on Friday but were little changed for the week on forecasts for warmer weather and weaker heating demand in the next couple of weeks. Front-month natural gas futures on the New York Mercantile Exchange settled down 4.4 cents at $4.618 per million British thermal units, down 1 percent for the day. For the week, the front-month contract eased just 0.2 percent after last week's dramatic ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyApril 14, 2014
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