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Asia-Pacific Crude-Refining margins slip from multi-year highs SINGAPORE: The Asia-Pacific crude market could come under pressure as refining margins begin to fall from multi-year highs.Asian refining margins have started to slip over the past week after refiners enjoyed their highest profit margins in years in the first quarter.Complex refining margins in the Singapore hub have averaged around $8 a barrel over the past week, down from an average of around $9.30 a barrel in March."I think by the middle of the year Asian refiners will be in a more competitive market," Richard Gorry, analyst at JBC Energy, told Reuters Global Oil Forum, pointing to higher inflows of light distillates from the West and of gasoil from new refineries in the Middle East."Cracks are already starting to come off their highs," he said.Still, refiners have plenty of supply available. Saudi Arabia has revved up crude production to 10.3 million barrels per day (bpd), its highest rate on record, ...

Middle East Crude-Dubai unchanged despite robust Chinaoil demand  SINGAPORE: Cash Dubai remained at a discount of about $1 to Dubai swaps in the Middle East crude oil market on Wednesday, unchanged from the previous session, despite robust demand from Chinaoil.The trading arm of PetroChina bought four Oman cargoes from Unipec in a busy window session which saw 120 deals, traders said. This brings Chinaoil's total tally for the month to 14 cargoes.Cash Oman is now on a par with Dubai, down from a ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia on Wednesday on profit-taking after the previous day's sharp gains, with traders expecting another rise in US inventories, analysts said.US benchmark West Texas Intermediate (WTI) for May delivery declined $1.01 to $52.97 and Brent crude for May dropped 86 cents to $58.24 in afternoon trade.On Tuesday WTI rose $1.84 and Brent was up 98 cents on easing worries that Iranian crude will flood the market soon after last week's ...
Middle East Crude-Dubai weakens despite Chinaoil buys SINGAPORE: Cash Dubai weakened in the Middle East crude market on Tuesday despite Chinaoil's purchases on the window.The trading arm of PetroChina took delivery of another four cargoes on Tuesday, bringing its total haul this month to 10 cargoes, traders said.Unipec will deliver three Oman while Shell has declared the delivery of one Upper Zakum, they said.Cash Dubai's discount to Dubai swaps stayed at around $1 a barrel, weaker versus a discount of about 70 ...
Asia-Pacific Crude-Thailand's PTT buys regional grades SINGAPORE: Thai demand supported the Asia-Pacific crude market after state-owned PTT bought regional grades in its monthly import tender, traders said.Thailand's PTT bought a total of 1 million barrels or more including Brunei's Seria Light and Malaysia's Kimanis in a tender for arrival at its Rayong plant in late-May and early-June, the traders said.In addition, the company purchased two other regional grades, they said, but the details of the tender result were not available.PTT normally ...
Middle East Crude-Saudi raises prices to Asia for 2nd month  SINGAPORE: The Middle East crude market strengthened on Monday after Saudi Arabia raised the prices of all the grades it will sell to Asia in May for a second straight month and as Chinaoil continued its buying spree.Three more cargoes were declared for delivery to Chinaoil on Monday, bringing its total purchase in the first three sessions this month to 3 million barrels, traders said.Unipec will deliver one Upper Zakum and one Oman while Shell ...
Oil prices rebound in Asia SINGAPORE: Oil prices rebounded in Asia on Monday on news that a labour strike at a US refinery would end soon, tempering recent losses fuelled by an agreement to curb Iran's nuclear programme.US benchmark West Texas Intermediate (WTI) gained 90 cents to $50.04 while Brent rose 69 cents to $55.64 in afternoon trade.Prices fell sharply after six world powers and Iran agreed Thursday on a framework to rein in Tehran's nuclear ambitions. Markets were closed ...

 



 
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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