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Middle East crude January Upper Zakum discount widens SINGAPORE: January spot differential for Upper Zakum in the Middle East crude market hit the widest discount in two months on Monday due to lacklustre demand for the grade on the Platts window.Vitol sold a cargo to Trafigura on the window at 80 cents a barrel below its official selling price (OSP), traders said.Last month, the Abu Dhabi crude's premium hit the highest in 11 months, boosted by strong demand from Chinaoil.In contrast, firm Chinese demand for Oman has buoyed the grade's value.A Chinese end user has bought over-the-counter Oman at discounts between 40-50 cents a barrel to Dubai quotes, a trader said, partly causing discounts to narrow late last week.A Thai refiner may have bought a Murban cargo on Dubai basis, equivalent to a single-digit premium to its OSP, he said.Ample supply continued to weigh on the Middle East crude outlook despite improvement in Asian refining margins.Iraq's oil exports ...

Asia-Pacific crude January Chim Sao steady; Sokol weakens SINGAPORE: Vietnamese Chim Sao crude for January loading sold at similar premiums from the previous month on firm demand, traders said on Monday.Vitol bought two of the cargoes from PV Oil while Shell purchased one, they said. Premiums for the cargoes loading on Jan. 7-11,17-21 and 26-30 were between $2.50 and $2.90 a barrel to dated Brent, traders said.Russian Sokol, on the other hand, weakened to a premium at just below $3 a barrel to ...
Brent slips to $79 as Japan enters recession SINGAPORE: Brent crude fell to around $79 a barrel on Monday following news Japan, the world's fourth-biggest crude importer, had slipped into recession and after comments from the West's energy watchdog that a return to high oil prices was unlikely soon. The chances of a pick-up in global oil demand were dealt a blow by the data showing Japan's economy unexpectedly shrank by an annualised 1.6 percent in the third quarter because of weak consumption ...
Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asia Monday but losses were limited by speculation that the OPEC cartel would be forced to cut output to prevent further big losses, analysts said.US benchmark West Texas Intermediate for December delivery fell 38 cents to $75.44 while Brent crude for January was down 47 cents at $78.94 in afternoon trade. Crude was supported by "speculation that OPEC will put a floor on prices by curbing output now that Brent ...
Brent slips to $79 as Japan enters recession SINGAPORE: Brent crude fell to $79 a barrel on Monday following news Japan, the world's fourth-biggest crude importer, had slipped into recession and after comments from the West's energy watchdog that a return to high oil prices was unlikely soon. The chances of a pick-up in global oil demand were dealt a blow by the data showing Japan's economy unexpectedly shrank by an annualised 1.6 percent in the third quarter because of weak consumption and ...
China shuts two Sinopec pipelines on safety concerns BEIJING: Two short crude oil pipelines in China operated by Sinopec Group are shutting temporarily due to worries over safety, Chinese authorities said. Sinopec has been ordered to shut the 179-km Linyi-Cangzhou pipeline and a 40-km pipeline from the Tanggu oil depot to Dagang in Tianjin by Nov. 20, the State Administration of Work Safety said on its website late last week. Authorities said that unannounced inspections had found numerous problems, including "stress corrosion and ...
Oil prices down in Asian trade SINGAPORE: Oil prices slipped in Asia Monday but losses were limited by speculation that the OPEC cartel would be forced to cut output to prevent further big losses, analysts said.US benchmark West Texas Intermediate for December delivery fell 25 cents to $75.57 while Brent crude for January was down 31 cents at $79.10 in mid-morning trade. Crude was supported by "speculation that OPEC will put a floor on prices by curbing output now that Brent ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln