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Oil prices resume downtrend in Asia SINGAPORE: Another surge in US stockpiles pushed oil prices lower again on Thursday, giving up some of the big gains in New York that came after the Federal Reserve cooled the chances of an early summer interest rate hike.US benchmark West Texas Intermediate (WTI) for April delivery was down $1.11 to $43.55 while Brent crude for May tumbled 78 cents to $55.13 in afternoon trade.WTI gained $1.20 in US trade and Brent jumped $2.40 after the US central bank signalled it was in no hurry raise rates, which sent the dollar tumbling.A weaker US currency makes dollar-priced oil cheaper, fuelling demand and boosting prices.But the rally was shortlived as the fundamentals of an oversupplied market and weaker demand took hold of sentiment following the US crude inventory report, analysts said.The US Department of Energy on Wednesday said stocks jumped 9.6 million barrels for the week ending March 13."The report indicates ...

Asia-Pacific Crude-Higher supply, slower Chinese demand may weigh SINGAPORE: The Asia-Pacific crude market remained supported on Wednesday by robust refining margins, although increasing supply and slower Chinese demand could hurt.Malaysia plans to export six or seven cargoes of its new Kimanis grade in May, compared with six in April, while Vietnam's PV Oil may load an extra cargo of Chim Sao in end-May in addition to the three cargoes sold in a tender already, traders said.Petronas began showing May-loading cargoes of Labuan and ...
Middle East Crude-Das premium up on Shell's bid SINGAPORE: DME Oman's discount to Dubai widened in the Middle East crude market on Wednesday as trade for May-loading cargoes slowed, while traders eyed the results of a tender issued by a Taiwanese buyer for price direction.CPC Corp closed on Wednesday its monthly tender to buy sour grades for May arrival. The Taiwanese refiner became a big buyer of spot grades this year after it reduced term liftings ahead of an impending closure of one ...
Indonesia awards oil blocks to Shell, Petronas, Pertamina JAKARTA: Indonesia's state-owned Pertamina, Royal Dutch Shell, and Malaysia's Petronas were among the companies awarded Indonesian oil and gas blocks in its latest offering of exploration concessions, government officials said on Wednesday.In the tender round, Indonesia offered 13 conventional and three unconventional oil and gas blocks. It was not yet clear which blocks were awarded to the three major oil firms.Copyright Reuters, 2015 ...
Oil prices extend losses in Asia SINGAPORE: Oil prices extended their losses in Asia Wednesday to new six-year lows on expectations US crude stockpiles will rise further, in a market already awash with supplies, analysts said.US benchmark West Texas Intermediate for April delivery eased 83 cents to $42.63 in afternoon trade, the lowest level since March 2009.Brent crude for May fell 14 cents to $53.37 a barrel."We expect the US stockpiles to increase further and this will exacerbate the market's supply ...
Oil prices extend losses in Asia SINGAPORE: Oil prices extended their losses in Asia on Wednesday to stay at six-year lows on expectations US crude stockpiles will rise further, in a market already awash with supplies, analysts said.US benchmark West Texas Intermediate for April delivery eased 80 cents to $42.66 in mid-morning trade, the lowest level since March 2009.Brent crude for May fell 20 cents to $53.31 a barrel."We expect the US stockpiles to increase further and this will exacerbate the ...
Asia-Pacific Crude-Steady; PV Oil sells Chim Sao SINGAPORE: The Asia-Pacific crude market held steady on Tuesday although Brent's narrowing gap to Dubai crude may support differentials.PV Oil sold at least one cargo of Chim Sao crude for May-loading to its domestic refinery, traders said. The company had offered three 300,000-barrel cargoes due to load May 1-5, May 11-15 and May 23-27 in a tender.While the details were unclear, they said PV Oil may have sold one or more of the cargoes domestically ...

 



 
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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