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China oil executive probed for graft: govt BEIJING: China is investigating a top executive at its largest oil refiner, the anti-corruption watchdog said Monday, as a prolonged graft crackdown targets more state-owned companies.Wang Tianpu, general manager of Sinopec, is being probed for "serious law and discipline violations", a common euphemism for corruption, the Communist Party's Central Commission for Discipline Inspection (CCDI) said in a one-line statement on its website.Wang is also a member of the company's board.The investigation comes ahead of the trial of former security chief Zhou Yongkang and his allies in China's oil sector, although it is unclear if the two are related.President Xi Jinping launched a much-publicised drive against corruption after he came to power two years ago, vowing to target both high-level "tigers" and low-ranking "flies".The CCDI said early this year that it plans to investigate all major state-owned enterprises.Analysts say China has failed to implement institutional safeguards against corruption, such as an ...

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia on Thursday as dealers focused on positive signs in a US supply report while tracking the crisis in Yemen, analysts said.US benchmark West Texas Intermediate gained nine cents to $56.25 while Brent crude fell two cents to $62.71 in late-morning trade."We...remain bullish on oil and this hinges on the US crude inventories," said Daniel Ang, investment analyst at Phillip Futures in Singapore.US commercial crude reserves in the period ...
Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asia on Tuesday as dealers weighed China's fresh monetary stimulus against a supply glut in the United States, analysts said. US benchmark West Texas Intermediate for May delivery declined four cents to $56.34 while Brent crude for June fell 11 cents to $63.34 in afternoon trade."The oil market is being pushed in two directions with the stimulus action by China going against the oversupply situation of crude in the United ...
Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia Monday, fuelled by sustained unrest in the crude-rich Middle East, while also gaining support on hopes that declining US production will ease a global supply glut, analysts said. US benchmark West Texas Intermediate for May delivery gained 68 cents to $56.42 while Brent crude for June gained 70 cents to $64.15 in afternoon trade. "Escalating conflicts in Yemen, a drop in the US rig count and weak US inventory ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Thursday, retaining support from a surprisingly upbeat US supply report a day earlier, analysts said. US benchmark West Texas Intermediate (WTI) for May delivery gained six cents to $56.45 while Brent crude for June slipped 14 cents to $63.18 in afternoon trade. On Wednesday WTI jumped $3.10 to $56.39, its highest closing price since December 23, while Brent crude for May shot up $1.89 to $60.32 on its ...
Asia-Pacific Crude-Russian grades supported SINGAPORE: Russian Pacific grades were supported in the Asia-Pacific crude market on Wednesday by strong refinery demand and tighter supply of alternative Middle East grades.Spot differentials for Russia's Sokol crude held steady from last month, after Rosneft sold three June-loading cargoes at around $4 a barrel above Dubai quotes in a tender, traders said.Vitol and Lukoil bought a Sokol cargo each loading June 10-19 and June 21-30 at a premium of slightly above $4 a ...
Middle East Crude-Al-Shaheen discounts narrow by more than $1  SINGAPORE: The Middle East crude market strengthened on Wednesday with Qatari al-Shaheen for June sold at much narrower discounts from the previous month on robust demand in Asia.Asian demand has risen with the end of seasonal refinery maintenance while Middle East crude supply has tightened.Maersk sold three cargoes at 40-50 cents a barrel below Dubai quotes, traders said, versus discounts of $1.50-$1.90 a barrel for May-loading barrels sold last month. Buyers were not immediately known.Unipec ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln