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CNOOC 2014 profit rises despite 'blow' from oil price slump HONG KONG: Chinese state-owned energy giant CNOOC on Friday said profit climbed over six percent last year as it started a spate of new projects, despite taking a "serious blow" from falling oil prices.The forecast-beating profit rise came after rivals Sinopec and PetroChina both said their profits dived last year as crude prices more than halved between June and January.China's largest offshore oil and gas producer reported net profit of 60.20 billion yuan ($9.68 billion) in 2014, 6.6 percent more than 56.46 billion yuan in 2013.The results beat the 52.3 billion yuan predicted by 24 analysts polled by Bloomberg News."2014 was an important year for the company's new oil and gas projects, with 13 projects commencing production," chief executive officer Li Fanrong said in a filing to the Hong Kong stock exchange.But chairman Wang Yilin warned the slump in oil prices and slow global economic recovery had hit sales and ...

Oil prices in Asia slip after recent gains SINGAPORE: Oil prices fell in Asia Friday, cutting short a rally as investors weighed the potential for disruptions in Middle East supplies caused by the Yemen crisis and a global crude glut, analysts said.US benchmark West Texas Intermediate for May delivery fell 83 cents to $50.60 and Brent crude for May eased 75 cents to $58.44 in late-morning trade.Prices rose sharply over the past two days after a Saudi Arabia-led coalition bombed Huthi Shiite rebels ...
Asia-Pacific Crude-Premiums for Vietnam grades rise SINGAPORE: Spot premiums for Vietnamese grades rose in the Asia-Pacific crude market on tighter supply as several cargoes had been diverted to meet domestic demand.PV Oil awarded a tender to sell 600,000 barrels of Bach Ho crude to Glencore at $1.30-$1.50 a barrel above dated Brent for May 15-21 loading, traders said, up from a premium of about $1 in a previous trade for this grade.PV Oil has also sold two 300,000-barrel Ruby crude cargoes ...
Middle East Crude-DME Oman firms slightly on Yemen crisis SINGAPORE: DME Oman firmed slightly in the Middle East crude market on Thursday after global prices surged on growing conflict in Yemen.Saudi Arabia and Gulf region allies launched military operations including air strikes in Yemen, officials said, to counter Iran-allied forces besieging the southern city of Aden where the US-backed Yemeni president had taken refuge.There is a concern that the crisis could escalate, exacerbating wider sectarian conflict in the Middle East.Trade sources said there was ...
Oil extends rise in Asia on Yemen crisis SINGAPORE: Oil prices jumped in Asia on Thursday after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in the Middle East.US benchmark West Texas Intermediate (WTI) for May delivery surged $1.90 to $51.11 while Brent crude for May rose $1.95 to $58.43 in afternoon trade.WTI advanced $1.70 while Brent gained $1.37 on Wednesday following news that Yemen President Abedrabbo ...
India's power plant operators surge; govt plans to boost LNG imports MUMBAI: Shares of India companies owning gas-operated power plants rose after the government said it will boost imports of liquefied natural gas (LNG) to improve electricity generation and revive plants in a bid to fuel economic expansion.Torrent Power Ltd jumped 7.1 percent, GVK Power & Infrastructure Ltd rose 3.2 percent, while Lanco Infratech Ltd rose 4.4 percent."Government will provide subsidy directly to the distribution companies for purchasing gas-based power. This will help the gas-based power ...
Oil prices mixed in Asia before US stockpiles data SINGAPORE: Oil prices were mixed in Asia Wednesday ahead of the release of US stockpiles data, a closely watched barometer of demand in the world's biggest consumer of the commodity, analysts said.US benchmark West Texas Intermediate fell 12 cents to $47.39 and Brent was up five cents at $55.16 in afternoon trade.Crude supplies in the United States are expected to have risen in the week ending March 20, according to a survey by Bloomberg News.Inventories ...

 



 
Index Closing Chg%
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Arrow Sensex 27,457.58 2.33





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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln