05032016Tue
Last update: Tue, 03 May 2016 04am

Asia

Markets - Energy - Asia

Japan's 2015/16 LNG imports fall 6.2pc from record high TOKYO: Japan's liquefied natural gas (LNG) imports fell 6.2 percent in the fiscal year ended March 31 from a year earlier to 83.571 million tonnes, preliminary trade data showed on Wednesday, marking the first drop in six years as some nuclear reactors restarted.The decline was also the first since the Fukushima nuclear disaster, following a massive quake in 2011, drove purchases to successive records.Thermal coal imports rose 1.7 percent to a record high 112.139 million tonnes, while crude oil imports climbed 2.9 percent to 3.42 million barrels per day (199.211 million kilolitres), customs-cleared data by the Ministry of Finance showed.Japan, the world's fourth-biggest crude buyer, imported 4.17 million barrels per day (20.542 million kilolitres) of crude oil last month, up 15.9 percent, marking the second-straight month of gains, the data showed.Japan's imports of liquefied natural gas totaled 8.149 million tonnes last month, up 0.1 percent from a year earlier. Imports ...

Markets - Energy - Asia

Crude futures fall after Kuwaiti oil workers end strike TOKYO: Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed US stockpiles rose last week. Brent crude futures were down 68 cents at $43.35 a barrel at 0302 GMT. On Tuesday, they settled up $1.12, or 2.6 percent, at $44.03 a barrel. US crude was down 85 cents at $40.23. The contract rose $1.30, or 3.3 percent, to $41.08 ...

Markets - Energy - Asia

Asia-Pacific Crude-June ESPO premium hits six-month low SINGAPORE: Russian crude premiums remained weak in Asia after Surgutneftegaz sold two June-loading cargoes at the lowest premiums in about six months as unsold supplies from the previous month weighed on the market, trade sources said on Tuesday.For loading mostly in June, Surgut has sold two 730,000-barrel cargoes at $2-$2.20 a barrel above June Dubai quotes to Unipec, the sources said. The cargoes will load between May 31 and June 5, and between June 3 ...

Markets - Energy - Asia

Oil prices dip as freeze talks failure trumps Kuwait strike SINGAPORE: Oil prices extended their losses on Tuesday as disappointment over the failure of talks to freeze output outweighed the possible impact of a strike by oil workers in key producer Kuwait.Prices had plunged early Monday soon after news that the long-awaited meeting of major producers in Doha had collapsed, fanning worries about a persistent global oversupply.However, the losses were pared through the day on news that thousands of workers in the Kuwaiti oil sector ...

Markets - Energy - Asia

Asia-Pacific Crude-Light grades hold steady  SINGAPORE: Australian light grades held steady on Monday, supported by demand from refiners in the Pacific.Trafigura bought a cargo of June-loading Mutineer crude about $3 a barrel to dated Brent, a trader said, after earlier purchasing a Kutubu cargo at $2-$2.50 a barrel above dated Brent.Russian ESPO starts trading this week as Surgutneftegaz has offered two ESPO cargoes loading between May 31 and June 5 and June 3-June 8 in a tender to close on ...

Markets - Energy - Asia

Oil prices plunge after Doha output talks fail SINGAPORE: Oil prices plunged on Monday after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut during a meeting in Doha.Hopes the world's main producer cartel, OPEC, and other major exporters like Russia would agree to freeze output has helped scrape oil prices off the 13-year lows they touched in February. But crude tanked after top producer Saudi Arabia walked away from the talks, which ...

Markets - Energy - Asia

Iran's oil production has already surpassed 3.5mn bpd DUBAI: Iran's oil production has already surpassed 3.5 million barrels per day, the deputy oil minister said on Saturday, and the Islamic Republic is seeking to increase oil and gas exports in the coming month. "Iran's crude oil exports will increase to 2 million barrels per day in the coming month ... Gas condensate exports would also increase by 10 percent in the coming month," Rokneddin Javadi was quoted as saying by state news agency ...