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Middle East crude Oman stays in discount amid ample supply  SINGAPORE: DME Oman remained at a discount to Dubai swaps in a subdued Middle East crude market on Tuesday.Weak refining margins combined with ample crude supply are expected to weigh on differentials for October-loading cargoes which will trade later this week.The Singapore refining crack based on Dubai skidded below $3 this month, down from an average of $4.40 a barrel in July, the lowest in at least eight months, Reuters data showed.On the supply side, a fall in Brent's premium to Dubai to the lowest since July 2010 will keep the arbitrage window for crude from North Sea, Africa and Latin America to Asia wide open.Brent-Dubai Exchange of Futures for Swaps (EFS) for September was valued at $1.07 a barrel, down 48 cents from Monday's close and the narrowest since July 8, 2010.The October spread has also fallen below the $2 mark to $1.66, down 54 cents from Monday.*TENDERSRosneft has ...

Asia Pacific crude brent/Dubai spread hits lowest in more than 4 years SINGAPORE: The Asia-Pacific crude market was supported on Tuesday as Brent's premium to Dubai crude dropped to its lowest in more than four years.Brent-Dubai Exchange of Futures for Swaps (EFS) for September was valued at $1.07 a barrel, down 48 cents from Monday's close and the narrowest since July 8, 2010.The spread has narrowed from nearly $5 a barrel two months earlier, as a glut of crude in the Atlantic Basin weighed on the European ...
China's natural gas price reform on track after fresh hike BEIJING: China will raise natural gas prices for bulk buyers and non-residential use from Sept. 1, putting price reform back on track to spur domestic exploration of the cleaner fuel and curb excessive use by some industry sectors.Beijing introduced a new pricing scheme in July 2013 to bring its domestic natural gas prices closer to the cost of imports to encourage higher domestic output and greater intake of the cleaner-burning fuel by ship and pipeline.Top ...
Sinopec refinery cuts crude runs 200,000 tonnes for August BEIJING: Chinese state energy giant Sinopec is temporarily cutting production at one of its refineries to reduce emissions in anticipation of the Youth Olympic Games this month in the eastern city of Nanjing, the company said on Tuesday. Subsidiary Jinling Petrochemicals has cut crude throughput by 200,000 tonnes, or around 21 percent, for August, reducing emissions of sulphur dioxide by 30 percent and nitrogen oxide by 57 percent. The Youth Olympic Games will run from ...
Oil prices down on ebbing supply fears SINGAPORE: Oil prices fell in Asia Tuesday on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate for September delivery eased 33 cents to $97.75 while Brent crude for September was down 38 cents to $104.30 in afternoon trade.Singapore's United Overseas Bank said investors are taking "a more optimistic view on Ukraine and Iraq although developments in these troubled regions remain on their radar". ...
Oil prices down on ebbing supply fears SINGAPORE: Oil prices fell in Asia Tuesday on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq, analysts said. US benchmark West Texas Intermediate for September delivery eased 27 cents to $97.81 while Brent crude for September was down 22 cents to $104.46 in mid-morning trade.Singapore's United Overseas Bank said investors are taking "a more optimistic view on Ukraine and Iraq although developments in these troubled regions remain on their radar". ...
Middle East crude Oman slips back into discount SINGAPORE: The Middle East crude market weakened on Monday with DME Oman slipping back to a discount against Dubai, while traders chewed on a series of monthly prices released over the weekend.Qatar deviated from its usual method of setting its Marine crude OSP by cutting the grade's OSP differential to Dubai by 34 cents, in line with September spot trades, instead of following ADNOC's Upper Zakum."It's the first time I've seen it reflecting spot market ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln