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Middle East Crude-Dubai up on Shell's purchases SINGAPORE: Dubai cash prices in the Middle East crude market ended March on a strong note on Tuesday after Shell resumed purchases.Five cargoes - four Oman and one Dubai - will be delivered following a flurry of trades on the window, a trader said, which have strengthened the Dubai price and also narrowed the benchmark's intermonth contango spread.But Abu Dhabi light crude weakened after BP offered Das crude on RIM's window at 30 cents a barrel above its OSP. This was down from an earlier offer of 35 cents, another trader said.India has bought the first oil for its strategic petroleum reserve (SPR), trade sources said on Monday, marking the start of a round of purchases by the world's fourth-biggest oil consumer to build up emergency stockpiles.The VLCC cargo Basrah IOC bought from Unipec, the trading arm of China's state-backed oil producer Sinopec, was purchased at a premium of 50-60 ...

Oil extends losses as deadline for Iran nuclear deal looms SINGAPORE: Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets.With a deadline less than 24 hours away, United States, Britain, France, Germany, Russia and China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for ...
Asia-Pacific Crude-Arbitrage inflows may weigh SINGAPORE: Most May loading cargoes were committed in the Asia-Pacific crude market, although differentials could come under pressure from inflows of cheaper West African grades.Both Indonesia's Pertamina and Taiwan's CPC bought African grades in their import tender for sweet grades.Brent's narrowing premium to Dubai crude makes African oil more competitive relative to Middle East crude. Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, narrowed 29 cents to $1.22 a barrel ...
India lowers April-Sept gas prices by 8pc: govt NEW DELHI: Locally produced gas in India will cost 8 percent less during April-September, the government said in a statement on Tuesday, due to a decline in global prices.India in November introduced a new gas-pricing formula and raised the local prices by a third. The formula links the prices of locally produced gas with those in the United States, Canada, UK and Russia.Prices will be cut to $4.66 per million British thermal units (mmBtu) in ...
Oil prices edge lower as Iran nuclear deadline approaches SINGAPORE: Oil prices fell in Asia on Tuesday as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. US benchmark West Texas Intermediate fell 67 cents to $48.01 while Brent eased 41 cents to $55.88 in afternoon trade.Singapore United Overseas Bank said prices "tumbled as hopes for a nuclear deal with Iran climbed".Foreign ministers of US-led major world powers ...
Middle East Crude-Iraq loading delays support SINGAPORE: The Middle East crude market strengthened after poor weather delayed loadings at Iraq's southern terminal, traders said on Monday.Tankers have waited to load Iraqi Basra Light for several weeks, creating tightness in the market, traders said. Last month, poor weather also caused delays to shipments from Iraq.Spot premiums for Iraqi Basra Light were likely to have improved in a tender by Indian Oil Corp (IOC) seeking 2 million barrels of the grade loading in ...
Asia-Pacific Crude-Refinery demand supports SINGAPORE: The Asia-Pacific crude market continued to draw support from robust refinery demand even as some prepare for peak maintenance season.Complex refining margins in the Singapore hub have averaged more than $9 a barrel this month.Russia's Rosneft sold a cargo of May loading Sokol crude in a tender at about $4.70-$4.90 a barrel above Dubai quotes, a trader said, higher than the previous month. The buyer was not known, and the deal could not be ...

 



 
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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