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Middle East Crude: Dubai hits record volume; DME Oman slumps SINGAPORE: The number of cargoes traded during a pricing process for Middle East crude exports to Asia hit an all-time high in August, traders said on Monday.Chinaoil, the trading arm of PetroChina Co, snapped up a record 36 million barrels over the month,Chinaoil bought 72 cargoes this month during the Platts Dubai Market on Close (MoC) process, of which nearly 70 percent were sold by Unipec, traders said on Monday, surpassing a prior record purchase of 55 cargoes, also by Chinaoil, in April.Chinaoil's August purchases are equivalent to a month's consumption by Australia, based on BP's data."Because they are so aggressive in the window, Asian refiners are suffering," a trader said.In August, Chinaoil bought 46 Oman, 24 Upper Zakum and 2 Dubai cargoes. Other sellers were Royal Dutch Shell, Vitol, Gunvor, Reliance and Total.Chinaoil also set a daily record on the first day of trade this month after it snapped ...

Middle East Crude: Chinaoil, Mercuria bag 6 more Oman cargoes SINGAPORE: Cash trade in the Middle East crude market accelerated on Friday as sellers sold more cargoes to Chinaoil and Mercuria before the month ends.Six cargoes were sold during the Platts Market on Close (MoC) process, bringing the total for the month to a record 75 cargoes.Chinaoil took five Oman cargoes - three from Unipec and one each from Shell and Vitol, traders said. Shell also sold an Oman cargo to Mercuria, they said.Separately, the ...
Oil prices up in Asian trade SINGAPORE: Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.US benchmark West Texas Intermediate for October delivery gained 86 cents to $39.46 while Brent crude for October rose $1.07 to $44.21 in late-morning trade.The US Department of Energy said Wednesday US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating ...
Oil rebounds after sharp losses, but China worries weigh SINGAPORE: Crude oil markets recovered more than a percent on Tuesday after a sharp drop in the prior session, although prices held near 6-1/2-year lows as continued weakness in Chinese equities triggered fears of an economic tailspin in the region.While global markets showed signs of a respite from the recent blood-letting, Chinese shares lost another 5 percent with investors fearing a hard landing of the world's second-biggest economy and top commodity consumer."The recent turmoil has ...
China's July Iran crude oil imports up 3pc BEIJING: China's July crude oil imports from Iran rose 3.0 percent from a year earlier to 2.44 million tonnes, or 575,700 barrels per day (bpd), customs data showed on Friday.On a daily basis, July imports fell 14.3 percent from 671,800 bpd in June.Copyright Reuters, 2015 ...
China July coal imports from Australia inch up on year BEIJING: China's imports of thermal coal from its biggest supplier Australia hit 8.17 million tonnes in July, up 0.6 percent on a year earlier, customs data showed on Friday, with Australia benefiting from import declines from higher-cost rivals.Total imports from Australia over the first seven months of the year reached 42.27 million tonnes, still down 21.4 percent on the year, the General Administration of Customs said. The number excludes lower-grade lignite.The July volume was up ...
Oil heads for eighth straight week of falls SINGAPORE: Oil headed for its eighth straight weekly decline in Asia Friday, as sharp falls in equities added to worries lacklustre global economic growth will hurt energy demand in an oversupplied market.US benchmark West Texas Intermediate (WTI) for October delivery, a new contract, lost 49 cents to $40.83 a barrel in late-morning trade, while Brent crude for October tumbled 56 cents to $46.06 a barrel.The WTI September contract closed 34 cents higher at $41.14 in ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln