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Thailand's oil, gas output seen down 70pc in next decade BANGKOK: Thailand is in urgent need to secure long-term energy supplies as its oil and gas output is expected to drop over 70 percent in the next decade after hitting a peak of over 800,000 barrel of oil equivalent per day in 2014, consultancy Wood Mackenzie said. At the current rate of production, Thailand's remaining reserves will be exhausted within nine years, Craig McMahon, head of Asia Pacific research for Woodmac told reporters after giving a public lecture at the Petroleum Institute of Thailand.Thailand, which uses natural gas for almost 70 percent of its power generation, has been struggling to secure long-term supplies as growth in output and reserve replacement have not kept pace with demand.Rajnish Goswami, senior vice president, Woodmac's head of gas and power for Asia and the Middle East said he expected gas demand in Thailand will grow an average 5-7 percent a year over the next ...

Middle East Crude: Chinaoil ends Oct with record 47 cargoes SINGAPORE: The Middle East crude market held steady on Friday, the last day of the month that saw Chinaoil buying a record volume of oil on the Platts window."The end of a historic month," a trader with a Western firm said.Chinaoil snapped up 47 cargoes of Upper Zakum, Oman and Dubai in the window this month, traders said, a bull run which has strengthened Dubai and put Saudi Arabia in a dilemma.The largest OPEC producer ...
Brent falls toward $86, heads for worst month since 2012 SINGAPORE: Brent crude futures fell toward $86 a barrel on Friday as a firmer dollar and a well supplied oil market combined to put the benchmark on course to end October with its steepest monthly decline since 2012.Unless the Organization of the Petroleum Exporting Countries moves to cut oil output at its meeting next month, traders say oil prices, which have dropped by a quarter since June, are likely to extend their rout."We are still ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Friday, pressured by a stronger dollar as dealers speculated over whether the will Federal Reserve lift interest rates sooner than later, analysts said.US benchmark West Texas Intermediate for December delivery fell 37 cents to $80.75 while Brent crude for December was down 36 cents at $85.88 in afternoon trade. Singapore's United Overseas Bank said crude prices faced downward pressure "as expectations that US interest rates may rise sooner than ...
Crude below $81, set for fourth monthly loss TOKYO: US crude futures edged below $81 a barrel on Friday, extending declines as the dollar rallied on bets of a sooner-than-expected US rate hike, while traders saw little chance of OPEC cutting output at its November meeting.FUNDAMENTALS NYMEX crude for December delivery was down 15 cents at $80.97 a barrel by 0002 GMT, after settling down $1.08 on Thursday.US crude is on course to post a fourth straight monthly decline of around 11 percent.London ...
US oil to revisit low of $79.44 SINGAPORE: US oil is expected to revisit its Oct. 27 low of $79.44 per barrel, as it has completed a rebound from this level.The rebound has been driven by a wave (4), which peaked around $82.63, the 23.6 percent Fibonacci retracement on the fall from the Oct. 1 high of $92.96 to $79.44. A downward wave (5) has travelled below a support at $81.41, the 14.6 percent level, and is progressing towards $79.44.A rise above ...
Brent oil's bearish target at $82.87 resumed SINGAPORE: A bullish target range of $90.51-$92.22 per barrel has been aborted and a bearish target at $82.87 resumed for Brent oil, as it has failed to break a resistance at $86.67 again.The resistance is provided by the 76.4 percent Fibonacci projection level of a downward wave C that developed from the June 19 high of $115.71. The break above this barrier turned out to be false.It is clearer now that the rebound from the ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln